MCC makes defensive bid for Tampines Ave 10 site
That the site drew 12 bids is a reflection of the continuing drive by developers to replenish their land bank, albeit at moderated prices, say property market observers
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IN a reflection of developers' hunger for land, a 99-year private residential site in what would be regarded as a mediocre location along Tampines Avenue 10 attracted a dozen bids on Tuesday, when the state tender closed.
The relatively affordable absolute land price quantum for the site, Parcel D, was also a factor for the high participation rate, said Desmond Sim, head of Singapore and SE Asia at CBRE Research.
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