Owners driven by fears of hike in GLS supply

Singapore

OWNERS in some developments are racing to launch collective sale tenders for their sites - driven by fear that the government could increase land sales in the first half of next year, which would mean more competition for en bloc sales.

Colliers International managing director Tang Wei Leng said: "It is a strange thing. En bloc sale owners are so united in their belief that the government is going to step up the release of land from H1 2018 and therefore they have to rush. They have to let their property be made available for tender to the developers before January 2018."