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.”