THREE Singapore developers are stepping up land banking via the collective sale market, with their latest tie-up being the acquisition of Park View Mansions in Yuan Ching Road for US$260mil (RM1.16bil).
Citing higher costs, construction delays due to labour shortage and supply disruptions, as well as macroeconomic uncertainties arising from the spike in inflation and interest rates, Chip Eng Seng told the Singapore Exchange on Thursday that, for the Park View acquisition, it is “prudent to manage these risks by collaborating with suitable partners whenever possible.”
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