Amid tough competition in the buoyant property market, smaller firms are combining forces and funds to secure a number of prime development sites in the country.
Out of the 11 residential sites sold under the Government Land Sales (GLS) Programme this year, three were awarded to consortiums of smaller investors.
At the same time, smaller firms also performed well in the private land sale market. Some of the sites being developed by these investors include Seletar Garden (pictured) and McDonald’s Place at King Albert Park.
Recently, a consortium comprising SingXpress, Creative Investments and Kay Lim Realty secured an EC site in Tampines. The developers put up a joint bid of S$234 million, higher than bids from Sim Lian Group and MCL Land.
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