The Lilium SingHaiYi Gold Clementi
The Lilium is a new development which is the former Park West Condo at Jalan Lempeng by SingHaiYi Gold. A statement from SingHaiyi said that it had purchased the building en bloc settling the problem of selling the building. This is after the block owners had accepted SingHaiyi bid on the 01/11/2018. SighHaiyi Gold group is a joint 50-50 partnership owned by Haiyi Wealth and SingHaiyi Land. Haiyi Wealth owns the majority of shares of around 56.17 percent in the group. Please see project details and site plan for more information with regards to the development.
SingHaiyi gold is managed, Mr. and Mrs. Tang. Through Haiyi holding group, they control their directors and shareholders.The group (SingHaiyi) is purchasing the whole building at a price of $840.9 million. there have been initial two attempts to sell the building but they failed.an attempt in 2007 didn’t meet the requirement of 80% agreement among the owners while a tender of $803 million for the whole building didn’t get any bids.
The Lilium Former Park West Enbloc Project Details and Specifications
The success in acquiring the building could be due to SingHaiyi’s move to raise its$143 million through its rights issue. It planned to use the money for property investments.it suggested reconsidering non-underwritten rights issue which was about 1.44 billion shares. If someone had two existing shares then he/she would get one rights share. The rights share would cost 10 cents. The majority shareholder (Haiyi) has an entitlement of 806 million shares of the rights share but it wants to take those rights shares that will not have been taken up.
The Lilium Haiyi Wealth and SingHaiyi Land
The real estate developer portfolio of Park West keeps on expanding. This makes them a trusted and well-established firm in Singapore. Those that are looking to invest in real estate should consider Park West as a top option .The estimated value of the property to be $1.33 million upon the completion of the project. Because the land is strategically situated in the Central Business District and North R&D Park, more business opportunities are expected to arise within the next couple of years.Another reason why the acquisition is great news for investors is that the Clementi land is a few minutes away from prime condominium real estate properties such as The Clement Canopy and The Triling. Even now that the development project is still ongoing, there is already a strong demand from investors to buy a unit.
A wonderful and unique lifestyle awaits you. Please see The Lilium site plan and floor plans for more information.