·                Lukewarm response for Upper Serangoon site. A 99-year leasehold housing plot at Upper Serangoon drew just three bids and a lower than expected top bid. Allgreen Properties put in the top bid of S$270.3m, or S$291 psf ppr. Analysts predicted a top bid of S$300-450 psf ppr when the Upper Serangoon site was launched for sale in July. The top bid of S$291 psf ppr is the lowest land price in psf terms recorded since Aug-09 - when the private residential property market was just in the nascent phase of recovery after hitting the trough. The site for Boathouse Residences in Upper Serangoon was sold for S$320 psf ppr in Nov-10 while another site at the corner of Buangkok Drive and Sengkang East Drive went for S$391 psf ppr in Jun-11.

 

·                GLP finds strong demand in western China. Global Logistic Properties (GLP) yesterday reported strong demand from customers in western China. GLP said that it has signed new and expansion lease agreements totaling 152,000 sq m in Chongqing and Chengdu, with full occupancy at both its 86,000 sq m GLP Park Chengdu Hi-tech facility and 18,000 sq m at Phase I of GLP Park Chongqing. The Phase II expansion of GLP Park Chongqing, which was completed in late August, has also experienced strong customer demand with approximately 50,000 sq m of 68,674 sq m leased since its completion.

  Source: Singapore Business Times