30 Nov '12, 2am

Developers take more risks amid a shortage of sites

The signs are clear for all to see: Developers’ appetite for sites has rebounded strongly. In addition to the land parcels made available on the Confirmed List of the Government Land Sales programme, more sites have been triggered from the Reserve List in recent months. Under the Reserve List, the tenders will only be launched when a developer submits an application committing to bid at a minimum price acceptable to the Government. Developers have already triggered five residential sites from the 2H2012 Reserve List. Amid the healthy participation in site tenders, winning bids for similarly located sites have in some cases registered double-digit percentage gains compared to the previous year. Foreign developers are also muscling in, fuelling the increasingly aggressive competition for sites. Since last year, more foreign developers – especially those from China – have bee...

Full article: http://lushhomemedia.com/2012/11/30/developers-take-more-...

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