Exec condos in the limelight as CityDev JV outguns rivals with $509 mil bid for Punggol EC site

SINGAPORE (Feb 28): DBS Group Research believes property developers are bullish on land-banking in executive condominium (EC) sites in Singapore due to limited supply in the near term.

This comes after a joint venture between City Developments (CDL) and TID Residential came up tops in the latest government land tender with a $590.4 million bid for the 820-unit EC site at Sumang Walk in Punggol.

The only EC plot available in the Government Land Sales (GLS) programme in 2H17, the Sumang Walk site saw a whopping 17 bids at the close on Tuesday night.

‘Tis the season to ride the M&A wave

SINGAPORE (Nov 9): Following the recent spate of privatisation, UOB Kay Hian is casting the spotlight on the merger and acquisition (M&A) investment theme.

Given the recent privatisation of ARA Asset Management; Jacobs Douwe Egbert’s conditional general offer for Super Group; and Northstar Advisors’ acquisition of Innovalues via a scheme of arrangement, the research house believes the theme could continue to play out as the yearend approaches.

Over 70% of Treasure Crest EC units sold over first booking weekend

SINGAPORE (July 18): Sim Lian Group says it enjoyed “strong demand” for its Treasure Crest executive condominium (EC) units over the first two days of booking over the past weekend, with 362 of the EC’s 504 units already sold.

Last week, the group announced that the EC at Anchorvale Cresent was already 2.1 times subscribed after it received 1,077 e-applications for its 503 units.

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