EGM To Be Conducted For Possible $1.6 Billion En Bloc Sale Of Orchard Towers

[The_King]

Functioning as a retail and office building during the day, Orchard Towers is famously known for its bustling nightlife. The iconic building has even been referred to as the ‘Four Floors of Whores’.

Source

Now, Orchard Towers could potentially be sold for $1.6 billion in an en bloc sale.

An extraordinary general meeting (EGM) will be conducted on 18 Feb for its unit owners to discuss the details.

Discussions ongoing for en bloc sale of Orchard Towers

In order to commence the en bloc tender, at least 80% of the owners would have to agree to the details of the transaction, reports Business Times.

During the upcoming EGM, they will be voting on the proposed price and how proceeds will be distributed among them.

However, ERA head of research and consultancy, Nicholas Mak, had earlier said that it is not guaranteed that the deal would go through — it’s possible that owners may disagree on the apportionment methods.

However, if the sale is successful, it would be the most expensive collectives sale in Singapore.

Opened its doors in 1975

When it opened in 1975, Orchard Towers was designed as a family-friendly retail hub.

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This changed over time as it became known for its thrilling nightclubs and was the site of several infamous murder cases.

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Nevertheless, roots of the early Orchard Towers still remain and it is still a great place to find delicious Singapore cuisine.

 

Anticipating the outcome of en bloc discussions

Given that it could potentially be Singapore’s most expensive collective sale, we look forward to the outcome of the EGM.

 

In any case, given its rich history, this definitely wouldn’t be the first time Orchard Towers becomes the talk of the town.

[XianGe]

Need rich man to pull this off.. maybe tiongland

[socrates469bc]

jin kumgong.

 

if 1997, Towkay me dont mind investing sgd1.6bln to redevelop but now, Towkay me rather use 20% of the money to buy over this bolehsian ems company.

 

is this good investment, @chamfer zz????

 

[chamfer]

4 hours ago, socrates469bc said:

jin kumgong.

 

if 1997, Towkay me dont mind investing sgd1.6bln to redevelop but now, Towkay me rather use 20% of the money to buy over this bolehsian ems company.

 

is this good investment, @chamfer zz????

 

You really got good foresight. This one will not lose $. Better than ah loong's investment in casino.

[socrates469bc]

1 hour ago, chamfer said:

You really got good foresight. This one will not lose $. Better than ah loong's investment in casino.

 

Towkay me came across it while reviewing regional osat and ems opportunities.

 

unsurprisingly, bolehsia and siamland offers better osat/ems plays compare to sgx.

 

siamland's stars micro is another interesting one as well.

 

Edited February 6, 2022 by socrates469bc

[Bigbird]

Orchard Towers gone then how the AMDK go for their nightly reporting????

 

I'm sure all the AMDK sure very happy if kanna quarantine in OT!