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Tanah Merah site triggered for tender

Successful applicant commits to S$580 psf ppr minimum bid; analysts expect developers to apply for more reserve list sites in next few months due to depleting landbanks

Kalpana Rashiwala

Published Thu, Jan 7, 2016 · 09:50 PM

Singapore property

Singapore

JUST three weeks after the Ministry of National Development announced the Government Land Sales Programme for first-half 2016, a private housing site near Tanah Merah MRT Station has been triggered from MND's reserve list.

Market watchers say this reflects developers' hunger for land, their vital raw material, amid a depletion in their landbanks. "There are so few sites on the confirmed list, but business has to go on for developers," commented JLL national director Ong Teck Hui. "I would not be surprised if more sites are triggered for launch from the reserve list given that there are only four sites on the confirmed list for this half."

While confirmed-list sites are launched according to schedule regardless of demand, sites on the reserve list are launched for tender on…