Developers’ sales for the week of 17 June 2024 – 23 June 2024 were 65 units
The respective top-selling projects in the CCR is Klimt Cairnhill, followed by Tembusu Grand in the RCR and Hillhaven in the OCR
2 GLS tenders at River Valley Green Parcel A and Upper Thomson Road Parcel A closed on 19 Jun
The top bid of $1,325 psf ppr for River Valley Green (Parcel A) was within expectations
The potential supply of more than 1,300 residential units from Zion Road (Parcel A and B) and the possibility of the Government releasing River Valley Green (Parcel B) for sale under 2H 2024 GLS programme are possible factors influencing the bid by the developer
The absence of bidders for Upper Thomson Road (Parcel A) was unsurprising as this area is untested for serviced apartments
From the past two tenders with SA2, it seems that it may be better to tender sites with SA2 near to the city centre or major employment nodes
The next GLS site with SA2 units in Media Circle may possibly close with only 1 bid on 19 Sept 2024
