18-05-2017, 09:59 PM
Singapore Land Gets Record S$1 Billion Bid From Chinese Buyers
by Pooja Thakur Mahrotri
May 18, 2017, 6:59 PM GMT+8
A residential plot in Singapore may fetch a record price for a government land sale, with a Chinese consortium putting in the highest bid at S$1 billion ($718 million).
Logan Property (Singapore) Co. and Nanshan Group Singapore Co. put in the highest bid in the Stirling Road land auction that closed Thursday, according to a statement from the Urban Redevelopment Authority. The final award of the site will be decided once the bids have been evaluated.
The price for the land would be equivalent to S$1,050 per square foot of gross floor area, translating into the highest absolute price paid for a residential plot, according to Cushman & Wakefield Inc. The Urban Redevelopment Authority announced on April 10 that it had received an application from a developer for the site to be put up for public tender. The plot can house about 1,110 units, according to URA estimates.
More details in https://www.bloomberg.com/news/articles/...ese-buyers
by Pooja Thakur Mahrotri
May 18, 2017, 6:59 PM GMT+8
A residential plot in Singapore may fetch a record price for a government land sale, with a Chinese consortium putting in the highest bid at S$1 billion ($718 million).
Logan Property (Singapore) Co. and Nanshan Group Singapore Co. put in the highest bid in the Stirling Road land auction that closed Thursday, according to a statement from the Urban Redevelopment Authority. The final award of the site will be decided once the bids have been evaluated.
The price for the land would be equivalent to S$1,050 per square foot of gross floor area, translating into the highest absolute price paid for a residential plot, according to Cushman & Wakefield Inc. The Urban Redevelopment Authority announced on April 10 that it had received an application from a developer for the site to be put up for public tender. The plot can house about 1,110 units, according to URA estimates.
More details in https://www.bloomberg.com/news/articles/...ese-buyers
Specuvestor: Asset - Business - Structure.