realestatepro wrote:

Saw this in the news recently: https://www.straitstimes.com/business/property/dunman-road-mega-site-draws-128-billion-bid-pine-grove-gls-site-draws-6715-million-bid With the global slow down and increase in rates, its interesting that Singapore’s property market is still pretty strong and stable.

The tenders for two state-owned plots closed on June 2 in Singapore, resulting in mixed outcomes. Developers displayed eagerness to bid for the Pine Grove site, while the mega-site in Dunman Road (Grand Dunman) did not receive as much attention. This is consistent with the developers’ mindset of bidding for sites with high demand, but only up to a certain point due to the high prices of some mega-plots. The Dunman Road site, the largest Government Land Sales plot since May 2018, only received two bids, possibly due to the considerable price and risks associated with construction costs, cooling measures, and economic uncertainty. SingHaiyi Group submitted the top bid of $1.28 billion or $1,350 per sq ft per plot ratio, although the developer has not commented on its intentions for the site. In contrast, the Pine Grove (Parcel A) plot – (Pinetree Hill) received five bids, resulting in one of the tightest races in recent memory. The UOL Group and Singapore Land Group joint venture emerged victorious with a bid of $671.5 million or $1,318 psf ppr, beating Allgreen Properties’ bid by just $800.

How was the performance of the 2 condominiums?

Thanks. Do you have any information about Hill At One North?