Strong Demand for GLS site at Tanah Merah Kechil and Yishun Avenue 9

Tanah Merah Kechil Site

 

7 bidders with a top bid of $576 psf ppr from Sing Holdings were drawn to the Yishun Ave 9 position (EC).

The strong numbers in the number of bidders and the top bid lead to standards. Since the circuit breaker, curiosity in ECs has been on the rise and no new EC project has been under way in Yishun since 2015.

Between 2014 and 2016, nearly 7,000 flats were built. This represents a likely pool of upgraders for the EC project when it is fit for launch in 2022.

A whopping 15 bidders and a top bid of $930 psf ppr was taken from the Tanah Merah Kechil platform.

After July 2017, the industry has not seen such strong participation in a GLS tender where 15 bidders were vying for a position at Woodleigh Lane. In the Outer Central Area, this is also the highest land deal ever for a GLS location.

Dwindling unsold empty units on the market has caused developers to create a pressing need to replenish their land banks. There may be a rise in faith among developers that the economy has seen its worst and in 2021/2022 it will return to development. Another trigger may be the palatable offer size for the storyline.

error: Content is protected !!