YET another government land parcel has been triggered for sale after a developer committed to bid at least $40.5 million for the site at the corner of Yio Chu Kang and Seletar roads.
The site is the third government plot triggered for sale in as many weeks after developers tendered bids on land in Dakota Crescent and Chestnut Avenue.
‘Developers are looking at the market two years down the road,’ said Jones Lang LaSalle’s head of South-east Asia research Chua Yang Liang.
‘We are still in a contraction mode but the global credit crunch has eased somewhat in Singapore and there is more certainty that we’ve seen the worst.’
The recent run-up in demand also points to a more positive mood, he Continue reading
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