Sim, Head, CBRE Research, Singapore and South East Asia:
Market watchers have
been keenly anticipating the trigger of this site as there remain very limited
opportunities should developers rely on the sites on the GLS’ confirmed list.
Interest for the site is expected to be healthy, with between eight and 10 bids
mostly from the major players who may team up with other parties in view of the
quantum and the large site. Developers will be keen to leverage the good
accessibility of the site and the higher ground on which the site sits. This is
a bid for the future. Developers will price into the bid the need to shore up
residential land banks in the light of current tight supply and in anticipation
of a possible recovery of the residential market.
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.