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Keen competition seen for sites near Redhill MRT, Sembawang Park

Analysts expect up to 12 bids for Redhill plot and up to 10 for Sembawang site; with winning bids pegged at S$800-1,050 psf ppr and S$400-550 psf ppr respectively

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Desmond Sim, head, CBRE Research, Singapore and South East Asia, expects keen competition for both plots. "The size of the two plots presents developers a relatively affordable lump-sum quantum; we expect each plot to attract no less than 10 bidders . . ."

Singapore

THE launch of a 99-year leasehold site next to Redhill MRT Station on Wednesday is expected to draw strong interest, given the pullback in the Government Land Sales Programme and developers' desire to replenish their land bank.

The site is designated for private housing

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