According to Deutsche Bank, the Singapore property market continues to show strength.

The research house has picked City Developments (CDL) and UOL Group as its top buys.

On Apr 12, Yanlord announced that the group and Hong Kong Land Holdings’ MCL Land have jointly won the tender for the en bloc sale of Tulip Garden with a bid of $906.9 million.

The winning bid is approximately 20% above Tulip Garden’s reserve price of $753 million when it was put up for sale by tender in late February, translating to $1,790 psf per plot ratio, 5-17% higher than nearby transactions. This is so far the second-largest collective sale, bringing YTD collective sales done to about $6.5 billion.

Read more on The Edge Singapore