SG Property: Tender for the West Coast Link site attracted 12 bidders with
Far East emerging the top bidder at $176m ($461 psf GFA) narrowing beating Centurion RE by 1.1%...
Deutsche note that not surprised that the top bid came in below market expectations of $560‐580psf, given the rising supply backdrop and developers' cautiousness from potential measures. Add that less ebullient competition for land and a more stable pricing environment should be positive for margins. Top picks amongst the developers are Keppel Land and CapitaLand.
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