The commercial property at 100 Jalan Sultan has been reopened for collective sale

Sultan Plaza will end the public tender on the 26th of October at 3 pm, according to the agent for marketing Teakhwa Real Estate. The commercial site located at 100 Jalan Sultan, off Beach Road, was relaunched to be sold collectively for the third time on Sept . 9 with a reserve price of $325 million, which is less than the reserve of $360 million in the previous bid.

The Reserve Residences ebrochure of the upcoming development The Reserve Residences is a mixed-use, residential and commercial development, and an integrated transport hub.

In a press announcement, Teakhwa Real Estate stated that the date of closing for the tender would be decided “only when there is confirmation of interest from potential buyers” or when the owners with an the 80% mandating has been received to sell at a less reserve value.

At the time of the launch the owners who held around eighty% of the strata as well as 72% by value of shares had signed the supplemental agreement that would lower the reserve of $360 million down to $325 millions.

The marketing agency now claims that it’s “close to” reaching the goal. “We only require one or two units more to get to the mark of 80% that will be achieved within the next few days,” the firm adds in a statement on Sept. 28.