The Tre Ver is Raintree Garden’s


The Tre Ver site was formerly known as Raintree Garden’s. It was once a privatized housing & Urban Development Co built in the 1980s to look after the welfare and demand of the middle-income Singaporean. The Tre Ver formerly Raintree Gdns was successful for a collective sales at a selling price of $334.2 mil (SGD) and this plot was bid for by no less than 5 developers in the year October 2016. This purchase price translated to about S$797 per square feet per plot ratio (PSF/PPR) including the premium paid to the relevant. Singapore authority for topping up the lease to a fresh 99 years for the redevelopment at  The Tre Ver condo to a gross plot ratio of 2.8.
The modest comeback of collective sales has kept up with the sale of Raintree Gardens in Potong Pasir for $334.2 million, after more than five developers bid for the site.
Many unit owners of the 175-unit privatised HUDC estate will walk away with about $1.9 million per unit, which is a premium of almost 90 per cent over the last transaction price of about $1.1 million this year.
After years of relative stagnation in the market, this is the third collective sale this year, after the blockbuster $638 million sale of Shunfu Ville in May and the 14-unit sale of Harbour View Gardens in August for $33.25 million. The latest sale was brokered by real estate firm JLL. The deal was struck yesterday, after the requisite more than 80 per cent of owners consented. The public tender was launched on Sept 1, with a reserve price of $315 million.
Mr Aaron Wan, a member of the collective sale committee and an associate director at ERA, said it was "phenomenal" there were so many bids. The committee had not expected such a good response. "For each of us to be getting about $1.9 million hits the sweet spot," he said. His parents bought the unit for about $600,000 in the late 90s, he added. https://thetrever.top/
It was a case of beginner's luck for Raintree Gardens, as the collective sale is its first attempt. It was privatised in July 2014.

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