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GuocoLand Wins S$627.8M Bid Amid Housing Surge

2/10/2025

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Summary

Story summary

GuocoLand, under billionaire Quek Leng Chan, secured a S$627.8 million bid for a residential site in River Valley, enabling 475 units.
The location, close to Great World MRT, highlights growing housing demand, with private home prices up 2.3% in Q4 2024.
The competitive bidding process involved five participants, showcasing robust developer interest amid possible government market restrictions.

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Story summary

GuocoLand, under billionaire Quek Leng Chan, secured a S$627.8 million bid for a residential site in River Valley, enabling 475 units.
The location, close to Great World MRT, highlights growing housing demand, with private home prices up 2.3% in Q4 2024.
The competitive bidding process involved five participants, showcasing robust developer interest amid possible government market restrictions.