S’pore land gets record S$1bil bid from Chinese buyers

Singapore closed 1.3 percent lower, battered primarily by financial stocks.

SINGAPORE: A residential plot in Singapore may fetch a record price for a government land sale, with a Chinese consortium putting in the highest bid at S$1bil (RM3.12bil).

Logan Property (Singapore) Co and Nanshan Group Singapore Co put in the highest bid in the Stirling Road land auction that closed yesterday, according to a statement from the Urban Redevelopment Authority (URA).