03-06-2022, 07:12 AM
Grace Leong
Senior Business Correspondent
PUBLISHED 8 HOURS AGO
SINGAPORE - The tenders for two state-owned plots that closed on Thursday (June 2) were a mixed bag, with developers keen to open their chequebooks for a site in Pine Grove while a mega-site in Dunman Road got a bit of a cold shoulder.
The results reflect the mood among developers, which are keen to bid for sites in areas with pent-up demand but only up to a point, given the high price tags some mega-plots command.
That seems to have been the issue with the Dunman Road site – the largest Government Land Sales (GLS) plot sold since the Silat Avenue site (now Avenue South Residence) in May 2018.
It drew just two bids due to the sizeable price quantum, and risks from the latest cooling measures, rising construction costs and economic uncertainty, analysts say.
Much more at: https://www.straitstimes.com/business/pr...illion-bid
Senior Business Correspondent
PUBLISHED 8 HOURS AGO
SINGAPORE - The tenders for two state-owned plots that closed on Thursday (June 2) were a mixed bag, with developers keen to open their chequebooks for a site in Pine Grove while a mega-site in Dunman Road got a bit of a cold shoulder.
The results reflect the mood among developers, which are keen to bid for sites in areas with pent-up demand but only up to a point, given the high price tags some mega-plots command.
That seems to have been the issue with the Dunman Road site – the largest Government Land Sales (GLS) plot sold since the Silat Avenue site (now Avenue South Residence) in May 2018.
It drew just two bids due to the sizeable price quantum, and risks from the latest cooling measures, rising construction costs and economic uncertainty, analysts say.
Much more at: https://www.straitstimes.com/business/pr...illion-bid