{"id":5916,"date":"2016-05-16T02:12:42","date_gmt":"2016-05-15T18:12:42","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=5916"},"modified":"2022-07-01T04:02:19","modified_gmt":"2022-06-30T20:02:19","slug":"singapore-land-price-rise","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/singapore-land-price-rise\/","title":{"rendered":"Singapore developer braces for land price rise"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><figure id=\"attachment_5917\" aria-describedby=\"caption-attachment-5917\" style=\"width: 800px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-5917\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/05\/LRT.jpg\" alt=\"Land prices will rise in the city-state in the years to come, City Developments Limited predicted\" width=\"800\" height=\"533\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/05\/LRT.jpg 780w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/05\/LRT-600x400.jpg 600w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/05\/LRT-440x294.jpg 440w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-5917\" class=\"wp-caption-text\">Land prices will rise in the city-state in the years to come, City Developments Limited predicted<\/figcaption><\/figure>\n<p>Taking a tone familiar among home buyers, Singapore&#8217;s second-largest developer said that land\u00a0prices in the city-state are exorbitant and will continue to rise in the years to come.<\/p>\n<p>The price rise will be led by prime land, City Developments Limited said in an earnings statement,\u00a0making a reference to the 170,000 square foot site of its Gramercy Park project, located close to\u00a0Orchard Road.<\/p>\n<p>\u201cIn land-scarce Singapore, it is increasingly difficult to secure prime land of this scale and even if\u00a0available, the asking price for land alone is exorbitantly high,\u201d the company said.<\/p>\n<p>\u201cFuture stock in this area is expected to be priced higher,\u201d it added.<\/p>\n<p>The developer said that profit dropped by 14 percent to $105.3 million in the quarter ending March\u00a031, while revenue saw a 11 percent decline to $723.3 million.<\/p>\n<p>Read <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-05-11\/singapore-s-prime-land-is-exorbitant-says-leading-developer\">Bloomberg<\/a> for more.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taking a tone familiar among home buyers, Singapore&#8217;s second-largest developer said that land\u00a0prices in the city-state are exorbitant and will continue to rise in the years to come. The price rise will be led by prime land, City Developments Limited said in an earnings statement,\u00a0making a reference to the 170,000 square foot site of its&hellip;<\/p>\n","protected":false},"author":17,"featured_media":54274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53593,57131],"tags":[],"persona":[],"class_list":{"2":"type-post","9":"entry","10":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- 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