We think the tender will attract no more than five bidders made up of consortiums because of the large quantum and higher risks involved.
Other than Marina One Residences and V on Shenton, there is no new supply of homes in District 1. With vaccinations taking place around the world and international travel resuming soon, this site offers a first mover advantage to developers who want to introduce new hospitality concept to travellers.
The eventual sale price may be between $1,700 and $2,000 with an eventual selling price above $3,000 psf. The Downtown Core is shaping up well as an attractive place to live in. Furthermore the site will be right above the future Shenton Way MRT station.