26 Aug '13, 2am

Small developers seek strength in numbers: Smaller developers are teamin... property market

Aug 26, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Smaller developers are teaming up as consortiums to leverage on each other’s resources when bidding for sites amid stiff market competition, said media reports. According to Donald Han, Managing Director at property consultancy Chestern Singapore, smaller players need to raise more funds “unlike bigger listed developers who have access to a myriad of financing facilities and sources of funds”. For instance, the recent tender for an executive condominium (EC) site in Yuan Ching Road recorded a top bid of S$418 psf ppr, submitted by a consortium comprising Evia Real Estate, CNH Investment, BBR Development and OKP Land. In other cases, smaller developers and construction companies only join forces after the tender is awarded. One example is Oxley Holdings’ announcement of its partnership with constru...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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