The collective sale of Orchard Towers has failed to reach the minimum 80% approval from the collective sale committee JCube Residence required for it to proceed. Hiap Hoe, the registered proprietor of 59 strata units – 21 shops, 38 offices – at the iconic development, acquired them in November 2017 at a collective price of $162 million.

On February 4, 2022, Hiap Hoe announced that the reserve price for the sale was set at $1.6 billion.

Built in 1975, Orchard Towers is a freehold, mixed-use development with two 25-storey towers, connected by an overhead bridge across Claymore Drive. Office and apartment units intermix with the strata shops to bring an eclectic atmosphere to the precinct.

Although the collective sale did not eventuate, Hiap Hoe’s stock remained unchanged on February 20, at 75 cents.