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ST Tenders for Tanah Merah Kechil Link Site closed with bids expectations

15 bids for Tanah Merah site; highest number of bids since the Holland commercial and residential site tender in May 2018. Strong market confidence and need for developers to replenish their land bank. Top bid at $930psf ppr.

"The top bid for the Tanah Merah site would require the developer to sell the new apartments for $1,700 to $1,800 psf, which is bullish as new units in that area are trading between $1,500 and $1,600 psf.”

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