About Logan Property Developers

The Florence Residences previously called Florence Regency situated at Hougang Avenue 2, has been acquired by a Chinese developer, Logan Property Developers. This comes after the developer submitted a winning bid of S$692 million for the property in an en bloc sale.

The sale comes after an earlier attempt failed. Each owner of the units at The Florence Residences is expected to receive between $S1.84 million and S$1.89 million from the proceeds. The initial collective sale stalled after the bidder accepted the reserve price but could not meet the valuation price of S$629. The bids from the other two developers could not match the reserve price.

According to the terms of the en bloc sale agreement, the sale price could not fall below the valuation, and the tender had to close without a matching valuation. The Marketing agent, JLL managed to get Longan Property Developers who were willing to match the valuation price. The collective sale was closed through a private treaty with the developer in a direct price negotiation.

How the URA Master Plan Planning Will Benefit Hougang
and the Future Residents of The Florence Residences

Hougang is a residential town and a planning area that has lots to offer to its residents. The neighbourhood is parked with schools, shopping centres, restaurants, parks and more which makes it a great destination. With the implementation of the URA Master Plan residents can look forward to a better and more self-sufficient Hougang. In a few years, residents will be able to access more recreational centres, parks and enjoy enhanced connectivity. The upcoming projects will also help to project Hougang’s rich history through heritage sites.

The URA Master Plan features amazing developments that will transform Hougang making it one of the best areas in Singapore. The future residents of The Florence Residences will be able to access services that better their living condition more comfortably. Transformation of the town into a commercial hub will create various employment opportunities in the industrial estate and the business park for the benefit of the residents.

Register Your Interest For
The Florence Residences Condo Today!

Latest Information The Florence Residences Price List As At  Thursday, October 1st 2020 updated, Register to receive the price list and book showflat appointment!