Singapore Property Weekly Recap (8th Sep to 14th Sep) – Billion Dollar Enbloc; Office Transactions

Singapore Property – Fewer Bids at GLS Provide Opportunity for Some Developers to Replenish Landbank

OUE C-REIT (OUECT SP): Dilutive Acquisition and Equity Fund Raising Deal

OUE C-REIT – OUE Downtown Office a Yield Dilutive Acquisition

Singapore and emerging market real estate

Royston Foo

Thematic (Sector/Industry)

Singapore Real estate / Thematic (Sector/Industry)

<p>Housing &amp; Development Board closed the tender for an Executive Condominium site at Anchorvale Crescent in SengKang (District 19). A total of 7 bids were received and the highest tender price was from Evia Real Estate and Gamuda Land. The tender price that they submitted was S$318,888,899 or S$576 psf ppr. Developers are generally more positive towards the EC segment instead of the private condominium market. Recent EC tenders have validated the upward price trends in future EC launches. For this EC site at Anchorvale Crescent, I expect the launch price to be higher at around S$1,050 psf to S$1,100 psf. Higher EC launch prices will set a floor for mass market condominium new launches. Buyers may find the lower priced new private condominium launches good bargain and better options compare to executive condominiums.</p>

Housing &amp; Development Board closed the tender for an Executive Condominium site at Anchorvale Crescent in SengKang (District 19). A total of 7 bids were received and the highest tender price was from Evia Real Estate and Gamuda Land. The tender price that they submitted was S$318,888,899 or S$576 psf ppr. Developers are generally more positive towards the EC segment instead of the private condominium market. Recent EC tenders have validated the upward price trends in future EC launches. For this EC site at Anchorvale Crescent, I expect the launch price to be higher at around S$1,050 psf to S$1,100 psf. Higher EC launch prices will set a floor for mass market condominium new launches. Buyers may find the lower priced new private condominium launches good bargain and better options compare to executive condominiums.

Singapore Property – Latest EC Tender Validates Upward Trend in Pricing and Developers’ Optimism