The CCR accounted for 15.7% while the RCR and OCR made up 22.9% and 61.4%
The respective top-selling projects in the CCR is Cuscaden Reserve followed by Pinetree Hill in the RCR and The Botany at Dairy Farm in the OCR
The first GLS tender for long stay serviced apartments (SA2) closed on 4 Apr with only one bidder
The sole bid is expected, given the large quantum of more than $1 billion and the risks of operating a new asset class
As with all things new and unknown, the risks are bigger and repricing in the land bid is needed but the returns can be huge
The lower land price for the plum site in the RCR is likely due to the inclusion of SA2 in the tender
The bid for the Upper Thomson Road (Parcel B) site is slightly lower than the latest land price in Lentor Central due to the bigger land size and number of units.
