Mega sites eyeing collective sale could face uphill task: Analysts

At Pine Grove, which has garnered 76 per cent of signatures so far, Huttons Asia's Mr Terence Lian said: "Once we have the mandate to launch the tender, we will go ahead with the reserve price of $1.72 billion."
At Pine Grove, which has garnered 76 per cent of signatures so far, Huttons Asia's Mr Terence Lian said: "Once we have the mandate to launch the tender, we will go ahead with the reserve price of $1.72 billion."PHOTO: DTZ

The new cooling measures announced on Thursday night may well have doused the current bout of collective sale fever, with analysts expecting mega sites such as Braddell View, Mandarin Gardens and Laguna Park to face an uphill task in luring developers who have just been hit with heftier land acquisition costs.

Even before the measures were announced, Colliers International data showed that 21 collective sale tenders, valued at $5.6 billion, closed in May and last month without being sold, as developers took a breather to assess the large number of redevelopment sites available, evaluate potential risks and take stock of their development pipeline.

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A version of this article appeared in the print edition of The Straits Times on July 07, 2018, with the headline 'Mega sites eyeing collective sale could face uphill task: Analysts'. Print Edition | Subscribe