However, this large site poses higher risk to developers in light of the hefty taxes (non-remittable tax and ABSD) and weakening market sentiment. Nevertheless, by the time the site details are released in December, developers will have a clearer picture of the market and a better idea what the project entails.
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Kampong Bugis poses higher risk to developers in light of the hefty taxes (non-remittable tax and ABSD) and weakening market sentiment, said List Sotheby’s Interntional Realty (List SIR). List SIR, the leading luxury real estate services company, said that in referring to the announcement of the Government’s second half 2019 Government Land Sales programme (2H2019 GLS).
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Kampong Bugis could result in higher risks for developers in light of the hefty taxes (non-remittable tax and ABSD) and weakening market sentiment, said List Sotheby’s International Realty (List SIR).