By Mr Desmond Sim, Head of Research, Southeast Asia
The site released at one-north Gateway sits well in the midst of a mature precinct comprising businesses and educational institutions. It could provide residential options to the working population in this precinct, both local and foreign. Yielding only 170 units, it is also a palatable site that will appeal to a variety of developers – both big and small. It is likely to receive competitive bids from developers who need to replenish their land bank. Upon completion, this development is expected to meet the demands of the existing working population in the vicinity, without placing too much stress on existing infrastructure. As the last site launched in the one-north precinct was way back in 2005, CBRE expects keen competition of between 6 to 10 bidders for this site.
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CBRE Group, Inc. (NYSE:CBRE), 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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.