Record Bid Of $2.56 Billion For White Site
The tender for the white site at Central Boulevard has closed on the 8th November 2016. The site was initially put up for public tender on the 30th August 2016 by URA under the government land sales(GLS) program. The trigger for the sale was due to a developer offering a bid price of no less than $1.536 billion.
The highest bid came in at $2.56 billion, exceeding the trigger price by more than $1 billion. It was submitted by Wealthy Link Pte Ltd, a Malaysian-led group owned by IOI Properties group. IOI Properties group is one of the leading developers in Malaysia with numerous projects throughout the country. Other notable residential projects in Singapore include current launches such as Cityscape, The Trilinq, and South Beach Residences.
While the bid results is not an announcement of the tender award. Five developers have offered a bid price of over $2 billion. With such bullish sentiments from developers, it might be a good time for investors to relook at residential units for sale near this white site. These include V on Shenton, Robinson Suites, and Marina One Residences.
