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Two tender closings signal developers' unabating land appetite

FCL leads Jiak Kim Street tender with S$955.4m bid; Allgreen emerges tops for Fourth Avenue site with S$552.96m bid

Published Tue, Dec 5, 2017 · 09:50 PM
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Singapore

DEVELOPERS' appetite for choice sites has shown no signs of letting up despite warnings from the government on over-exuberance in the property market.

Two residential land parcels at Jiak Kim Street and Fourth Avenue under the government land sales (GLS) programme saw keen contest on Tuesday, with Frasers Centrepoint Limited (FCL) setting a new price benchmark for the Jiak Kim Street site.

The Singapore-listed developer topped 10 bidders with its S$955.41 million tender or S$1,733 per square foot per plot ratio (psf ppr) - the highest land rate achieved for a pure residential GLS site and residential with commercial on the first storey site.

This marks a stark 39.9 per cent jump from the last high of S$1,239 psf ppr that GuocoLand paid for the site at Martin Place last…

KEYWORDS IN THIS ARTICLE

Residential

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