shunfuThe Shunfu Ville has been sold to the renowned developer Qingjan Realty. This 358-unit development has been sold for S$638 million and been considered as one of the largest collective sale deals after the Farrer Court sale in 2007.

The reserve price of Shunfu Ville is at least S$688 million but the deal was finally sealed when majority of the owners that reached 80 percent agreed to accept the offer despite the fact that it is much lower than its reserve price.

The owners will then receive more or less S$1.78 million for their respective homes. This will work out to S$747 per square foot per plot ratio respectively.

This has been the second time that Shunfu Ville was put up for collective sale. Initially, the tender was closed on September last year but were not able to find a buyer. It will be rebuild to Jadescape condominium with full condo facilities.