IOI's lone bet on Marina View is on an endemic future, 7 years on

A KEY source of acquiring land for development in Singapore is via participating in government land tenders. Typically, bidders submit their bids by a stipulated deadline with the highest bidder prevailing. 

Behind the scenes, bidders would be furiously running numbers and getting supporting market data to see what bid price can be justified.

But determining the bid price is also a bit of an art. Bidders may try to get a sense through their networks as to who else may be bidding and refine their bid price, especially when a bidder is very keen to secure a site.