SINGAPORE (Sept 9): On Aug 12, a “white site” at Central Boulevard was triggered by a developer, and market watchers say the bid prices could reinforce a turnaround in sentiment towards office property trusts like CapitaLand Commercial Trust and Keppel REIT.

The site, which is in the Marina Bay area, allows for maximum gross floor area of 141,000 sq m with at least 100,000 sq m for office use. The minimum tender price is $1.54 billion or $1,010 psf per plot ratio.

“We believe the upcoming land tender for a prime site at Central Boulevard in Marina Bay could act as another signal to mark the bottom of capital values in the office market especially if the implied gross development values is close to recent office market transactions of $2,700 psf,” DBS Research says.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook