Singapore, 28 Jun 2021 The white site at Marina View that was said to be triggered by IOI Properties at S$1.508 billion may be well-received by developers given the limited supply of new homes in the Core Central Region (CCR), analysts said. Given the large financial commitment required for the site, developers are expected to set up joint ventures to parcel out the risk.
The tender was launched for sale by public tender on Monday, and will close at noon on Sep 21, 2021, the Urban Redevelopment Authority (URA) on Monday said.
With developers mindful of the increasing labor cost, the expected bidding price could be about S$1,550 psf - S$1,700 per square feet per plot ratio (psf ppr), with an expected selling price of between S$2,500 and S$2,800 psf, said Christine Sun, senior vice president of research and analytics, OrangeTee & Tie.