Tan Boon Liat Building sold en bloc to Kingsford Group at lower reserve price of S$950 million
The Tan Boon Liat Building in Singapore has been sold en bloc to the Kingsford Group for S$950 million. The sale follows a rezoning study by the Urban Redevelopment Authority to encourage more residential development in the area.
Why it matters
This transaction is the largest collective sale in Singapore this year and highlights the ongoing urban transformation and land-use policy shifts in the city-state.
This likely represents the largest collective sale transaction in Singapore so far this year, says Cushman & Wakefield
[SINGAPORE] Freehold Tan Boon Liat Building has been sold en bloc to a unit of Kingsford Group for S$950 million, subject to the fulfilment of certain conditions and owners’ approval.
This likely represents the largest collective sale transaction in Singapore so far this year, said exclusive adviser and marketing agent for the property Cushman & Wakefield on Tuesday (Jul 21).
The 15-storey building was first launched for collective sale in February 2025 with a reserve price of S$1.15 billion . While the tender attracted expressions of interest, it closed without securing a buyer . The property was subsequently relaunched in February 2026 at a lower reserve price of S$1 billion – about 13 per cent below the initial asking price.
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