At the close of the tender for the Marina View government land sales (GLS) site on Sept 21, there was only one bid, and that was made by developer IOI Properties.

IOI Properties was also the developer that triggered the site for tender on June 28, where it committed to a minimum bid of at least $1.508 billion.

The lone bid came as a surprise to DBS Group Research analysts Derek Tan, Rachel Tan, Dale Lai and Geraldine Wong, as the site is located within the central business district (CBD) and is supposedly a highly anticipated site.

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