Hi all Newgate Purchasers,
I have set his new blog as to highlight on the latest on Newgate Project.
In the past 2 years, we have been trying to get new developers to come in to assist the reconstruction of the apartments. We met many developers, PWC and RHB Bank.
However, due to one reason or the other, all these negotiation did not materialised.
Then the bank decided to forclose the said property. We objected and finally the bank decided to auction the property.
There were 3 parties and finally one party emerged the best suitor for the project.
Currently, final negotiations on contract and Sale & Purchase agreement are in process with PWC. We are hoping that all the agreement can be sorted our within this month of March.
There after, we will call for the purchasers meeting to table the proposal.