SINGAPORE (July 17): The property market continues to improve, with a consortium led by Chip Eng Seng Corp putting in a record bid of $1,110 psf per plot ratio at the new Bidadari Estate. A joint venture (JV) involving Keppel Land and Wing Tai had the second-highest bid, just $9 psf ppr lower. In a July 12 report, DBS Group Research says that the tight-winning margin of 0.8% and the large number of bidders — 15 — indicates that competition for land sites is strong. “Interestingly, local developers’ bids are more aggressive now at above $1,000 psf,” the bank adds.

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