Industrial: A 60 yr leasehold industrial site at Woodlands drew a top bid of $84.24m or $152/psf ppr. Site has a max gfa of 554,231.1 sqft. Top bid was higher than analysts expectations of within $60-100/psf and also 2x higher than the $75/psf ppr winning bid for a nearby site sold in Apr10. Analysts note that this is a sign that funds are being diverted to the industrial ppty sector from the residential property mkt, which has been the target of numerous measures implemented by the govt….
Industrial players include Mapletree Industrial Trust, Cambridge Industrial Trust and Ascendas REIT.
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