Sim, Head, CBRE Research, Singapore and South East Asia:
turnout for this GLS tender – the last to close this year - reiterates the
insatiable hunger of developers for land. This is especially so for those which
have not won any sites over the past 12 months. The
developers which participated in the tender were from a wide variety of
nationalities; showing their continued confidence in the residential market
even as it is challenged by cooling measures.In
addition, the palatable quantum for this site allowed for a higher winning
margin. It is also presented a possible opportunity for smaller developers. Overall,
continued high bidding interest for GLS sites would encourage the authorities
to make available more sites in its land sales programme for the next half
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