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China, HK developers temper their bids in Singapore land tenders

But they remain active players despite less aggressive bids amid cooling measures and significant landbanks built up from en bloc deals

Nisha Ramchandani

Nisha Ramchandani

Published Thu, Jul 25, 2019 · 09:50 PM
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Singapore

CHINA and Hong Kong developers - once fingered for pushing up property prices with aggressive bids in land tenders here - are no longer the top bidders these days.

Though still active in tenders, they have not had much success in both state and private housing site tenders since the first half of last year.

Industry players see several reasons for the less gung-ho bids. One major one is the build-up of landbank from successive en bloc deals prior to la…

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