GuocoLand-Hong Leong JV submits top bid of $1,154 psf ppr for Margaret Drive GLS site
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 01 2024
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Source: Yahoo Finance
Top Bid for Margaret Drive Site: A consortium led by GuocoLand and Hong Leong Holdings submitted the highest bid of $497 million for a residential plot on Margaret Drive, which can accommodate 460 condo units. This bid was about 5% higher than the second bid received.
Future Development Potential: The site is expected to benefit from new amenities in the upcoming Tanglin Halt HDB estate, with anticipated launch prices for the new development ranging between $2,500 psf and $2,600 psf.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
