1 / 1Is this the most expensive property transaction in Singapore ever?Stephen Riady, the executive chairman and controlling shareholder of OUE Limited, is purchasing a good class bungalow at Nassim Road from an OUE unit for $95 million, revealed OUE in an SGX filing on Wednesday .
The property developer noted that the sale is made “in the ordinary course of business of the group”. Using the comparable sale method, Cushman & Wakefield VHS valued the property – on the basis of market value – at $87 million, while Knight Frank valued it at $85.5 million using the direct comparison method.
The company’s audit committee is “of the view that the terms and conditions of the transaction are fair and reasonable, on normal commercial terms, and are not prejudicial to the interests of the company and its minority shareholders”.
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