SINGAPORE (Oct 7): A rise in the number of en-bloc sales is signalling property developers are hungry for land amid a dearth in land bank supply, according to DBS Research.
The UOL/UIC acquisition of Raintree Gardens in Potong Pasir for $334 million is the second en-bloc sale this year, says lead analyst Rachel Tan in a Friday report.
The sale follows Shunfu Ville’s en-bloc sale for $639 million earlier this year, which was the first en-bloc sale in nine years.
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