Date: 13 March 2019, Author: Grace Leong, Source: ST

Brief: Mandarin Gardens, a 1,017-unit leasehold development, has raised its asking price to a new record of $2.927 bil in a bid to obtain a 80% mandate to launch a tender. In November, the asking price was $2.788 bil after owners discovered the land was undervalued. This comes a month before the expiry of its collective sale agreement. Should the mandate be achieved,  owners will have a 12-month period to find a buyer.