Aspial

Aspial: emerged as the top tender among 18 bids, with a bid of $156.7m ($687 psf ppr) for a land parcel at Faber Walk under the Government Land Sales programme. The 99 year site sits on an area of 15,125 sm with max gfa of 21,176 sm, and is zoned for residential use. It is located near IMM, JCube and Jem. The top bid was a mere 1.1% and 1.9% above the second and third highest bidders respectively, reflecting the keen competition for the site because of its proximity to amenities. Colliers estimates a break-even of $1,050 to $1,150 psf and a selling price starting at $1,300 psf. Aspial trades at 2.6x P/B.