SINGAPORE - The one-north Gateway site attracted nine bids by the time the tender process for it and two other plots closed on Thursday (Sept 5).. Read more at straitstimes.com.
SINGAPORE - The one-north Gateway site attracted nine bids by the time the tender process for it and two other plots closed on Thursday .
There were four bidders for the site in Bernam Street, with an offer of $440.9 million or $1,463 psf from Chinese firm HY Realty leading the way.Ms Christine Li, head of research for Singapore and South-east Asia at Cushman & Wakefield, said developers were focused across the three sites, which may have diluted the bids and resulted in lower bids than expected.
Ms Li also noted that the top bids were more measured, a reflection of the uncertainties in the global economy. Mr Desmond Sim, CBRE's head of research for South-east Asia, noted that the demand for the one-north Gateway site was unsurprising given its"palatable size and strategic location".
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