Foreign Developers are confident in Singapore property market

In May 2017 , Nanshan Group and Logan Property (both Chinese developers) forked out $1 billion (Reference 1) for a plot along Stirling Road. That sets the all time record for government land sales, but we shouldn't have been surprised. Chinese developers and their aggressive bids have come a trend.

For example, Qingjian Realty, a China based developer, now has 10 developments in Singapore. Prior to the Stirling Road incident, they were the company smashing records for top bids. They were the ones who bought Shunfu Ville for $638 million (Reference 2), despite the property slump (and the fact that they would have limited time to sell around 1,000 units). A week later, they bid $301 million for the Bukit Batok West Avenue 6 site - a bid that set them ahead of 11 other bidders, and which topped the next highest bidder by 7.7 per cent (Reference 3).

June this year, a consortium of Fantasia Investment, Sun Renwang, and Yang Xinping bid $75.8 million for a plot at Lorong 1 Realty Park. This was a stunning 22 per cent higher than the next top bidder, which was also Chinese (a joint bid of $62 million by Singhaiyi Investments and Haiyi Wealth).

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