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Is record bid for Central Boulevard white site a sign of things to come?

Gwyneth Yeo
Gwyneth Yeo11/10/2016 04:51 PM GMT+08  • 2 min read
Is record bid for Central Boulevard white site a sign of things to come?
SINGAPORE (Nov 10): The tender for the white site at Central Boulevard saw a top bid of $2.6 million, or $1,689 per sq ft per plot ratio (psf ppr) from IOI Properties, which CIMB said was the “highest price paid for a white site” and exceeded the brok
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SINGAPORE (Nov 10): The tender for the white site at Central Boulevard saw a top bid of $2.6 million, or $1,689 per sq ft per plot ratio (psf ppr) from IOI Properties, which CIMB said was the “highest price paid for a white site” and exceeded the brokerage’s expectations of a winning bid of between $1.5 billion and $1.8 billion.

CIMB analysts Lock Mun Yee and Yeo Zhi Bin noted that the Central Boulevard bid had broken the record set by Asia Square Tower 1, which sold for $1,409 psf ppr in Sep 2007.

The recent Central Boulevard tender drew 7 bids, with the second highest bid of $2.2 billion ($1,451 psf ppr) coming from Mapletree Investments. Nanshan Group and Cheung Kong’s bid prices were between $1,398 and $1,438 psf ppr, while Capitaland, Yanlord and OUE’s bids were from $1,318 to $1,256 psf ppr.

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