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Latest state tenders yield mixed bag of results

05 Jul 2019 09:00

By Kalpana Rashiwala

AN EXECUTIVE condominium (EC) housing plot along Canberra Link in Sembawang pulled in eight bids at a state tender on Wednesday, with the top bid coming in 1.4 per cent higher than that for an adjacent EC site sold last September.

On the other hand, a private housing site along Clementi Avenue 1 drew more moderate interest, with only five bids. The top bid there was also below the expectations of at least one property consultant, Tricia Song of Colliers International.

Wednesday's provisional state tender results for the two 99-year leasehold sites reflect developers' greater confidence in the EC segment, given their relatively limited supply.

ECs are a public-private hybrid housing type.


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Source: Business Times
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