In a March 9 report, lead analyst Derek Tan says, “Both sites were close fights in our view, with a thin margin between the highest bids and the second-highest bids as developers remain hungry to landbank.”
The tenders of two government land sales (GLS) sites closed on the evening of March 8 and DBS Group Research noticed that it continues to see active participation among property developers as expected.
The site at Dairy Farm Walk drew seven bids with Sim Lian as the top bidder, while an executive condominium (EC) residential site in Bukit Batok West Avenue 8 attracted nine bids, with Qingjian-Santarli joint venture (QS JV) taking the top spot.
