Marina Gardens Lane GLS – Did Kingsford overpay for it?

Video description from @alanweeproperty

GLS – Record prices ahead?

Marina Gardens Lane GLS – Did Kingsford overpay for it?

The latest government land sales results for the Marina Gardens Lane site have a winning bid that was 42% higher than the second-highest bid. Did the developer in this case - Kingsford overpaid for it? Let me share some light on it.

*Correction*: Under 3.17 to 3.33 in the video.
Intrepid Investment Pte Ltd is not CDL. Intrepid is a wholly-owned subsidiary of Hong Leong Holdings Limited which is in turn a subsidiary of Hong Leong Investment Holdings Pte. Ltd.


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Alan Wee l #AlanWeeProperty
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References:
https://www.hdb.gov.sg/cs/infoweb/about-us/news-and-publications/press-releases/27062023-Provisional-Tender-Results-for-Mixed-Use-Development-Site-at-Tampines-Avenue-11-and
https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr23-20
https://www.mingtiandi.com/real-estate/projects/li-ka-shings-ck-asset-buys-city-towers-in-singapore/
https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr22-46
https://www.kingsford.com.sg/
https://www.scmp.com/week-asia/economics/article/3006964/why-hong-kong-linked-kingsford-development-cant-sell-flats
https://www.businesstimes.com.sg/property/140-kingsford-waterbay-units-go-one-weekend-amended
https://www.edgeprop.sg/property-news/ioi-properties-sole-bidder-marina-view-gls-site-15-billion-bid
https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr21-36