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Developers' war chest of cash keeps collective sale party going

Estimates from Cushman & Wakefield suggest that developers still have another S$18.9 billion for land acquisitions in the near term

Singapore

ARE developers still on a prowl for land? That question naturally cropped up when the public tenders of 10 or more collective sale sites closed without concluding a sale in recent months.

But four of such sites have since found buyers under private treaty, which market watchers were quick to attribute to developers' sustained interest for land though they are proceeding more cautiously than before.

Keeping this en bloc train going is their war chest of cash reserves built up by massive project completions in recent years. Estimates from Cushman & Wakefield suggest that developers still have another S$18.9 billion for land acquisitions in the near term. This is a conservative estimate since...

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