S’pore state land sales deals hit 11-year high

The commercial and residential site in Tampines Avenue 11 was the largest GLS deal in 2023. — The Straits Times

SINGAPORE: State land tender activity hit an 11-year high in 2023, with 14 government land sales (GLS) sites totalling S$7.7bil (US$5.78bil) being awarded.

This was the highest annual value recorded under the GLS programme since 2012, when 51 GLS sites worth S$10.6bil were awarded, according to a report released by real estate firm Knight Frank on Jan 3.