government land sales (GLS)

Why DBS remains cautious on Chip Eng Seng despite Kampong Java site win

SINGAPORE (Jan 17): DBS Group Research is forecasting property transaction volumes to fall 20% y-o-y to 7,500-8,500 units in 2019, and says it is possible for the property price index (PPI) to decline by up to 3% this year, and even further, should macro conditions worsen.

The research house currently has a “hold” call on developer Chip Eng Seng (CES) with a target price of 75 cents, which has yet to factor in the group’s ongoing acquisition of a land parcel at Kampong Java.

Large developers sit out GLS tenders following property cooling measures

SINGAPORE (Sept 6): The majority of large property developers in Singapore have sat out the latest round of government land sales (GLS) tenders, after the introduction of new property cooling measures in July to curb rising home prices.

Tenders of three sites under the GLS programme – Dairy Farm, Jalan Jurong Kechil, and Canberra Link Executive Condominium – closed on Wednesday.

Be informed of the stories that matter


Be informed of the stories that matter