Libabali Garden, near the Great World Metro Station, has been sold for 56 million yuan through collective sales, becoming the first successful collective sales project in 2025.

Knight Frank Singapore issued a statement on Friday (February 21) to announce the news. It noted that River Valley Apartments, a private residence in the 10th district, was sold in the tender event ended Tuesday (18th). The buyer is a Singaporean family office and plans to rebuild the project into a serviced apartment.

The transaction price of RMB 56 million is equivalent to the floor area ratio of RMB 1,622 per square foot, which includes land better charge.

Libabali Garden is a permanent land deed with a total floor area of ​​2.8 and covers an area of ​​about 12,408 square feet. It is currently a 24-unit four-story building.

The successful collective sale of this project means that each unit owner can obtain at least about RMB 2 million to RMB 2.6 million.

Further reading

The public bidding guide price for Libabali private housing project is 56 million yuan

The public bidding guide price for Libabali private housing project is 56 million yuan

Xie Minmin, head of real estate and collective sales at Knight Frank Capital Markets Department, said that the bidding for Libabali Garden has attracted great interest from developers and investors because the project is located in a superior geographical location, providing them with development opportunities and can be found here. The area creates distinctive residential or serviced apartments.