Exec condo land bids slump to lowest since 2011
Bids for Sengkang parcel come in below expectations; Sim Lian's top bid 24% below price of nearby plot last Feb
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE generally weak sales at most executive condo launches in recent months are eroding developers' confidence in this market segment.
Sim Lian's top bid of S$280.04 per square foot per plot ratio (psf ppr) on Tuesday, for a 99-year leasehold EC site along Anchorvale Crescent in Sengkang, was 24 per cent lower than the S$367 psf ppr that SingHaiyi paid for a neighbouring plot in February last year (which it will develop into The Vales project). That tender drew 12 bids - against just three at the latest tender.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
