Lower supply of new homes for second half of Govt land sales programme

SINGAPORE - The supply of new homes was pared down under the Government Land Sales (GLS) Programme for the second half of the year.

 A total of six residential sites, two mixed-use plots and one commercial parcel was put on the confirmed list, said the Urban Redevelopment Authority (URA) on Tuesday.

 Together, they can accommodate up to 3,900 private homes, including 1,500 executive condominium units. These will be "located across all regions of Singapore," said URA.

 This was down from the 4,600 new private homes that could be yielded from GLS land on the confirmed list for the first half of 2014.

 However, commercial space from confirmed list sites was bumped up to 159,000 sq m of gross floor area, up from 5,000 sq m of GFA from confirmed list sites from the first six months of the year.

 Confirmed list sites go on sale regardless of interest, while reserve list sites are triggered for a public tender if a developer makes an acceptable opening offer.

The URA said that the sites, together with the "large supply" from projects in the pipeline, is expected to be adequate to meet the demand for private housing and commercial space over the next few years.

The reserve list comprises 12 residential sites, one commercial land parcel in Beach Road and a white site - which allows the bidder more flexibility in developing options - in Marina View. A total of 6,300 units and 193,000 sq m of GFA can be yielded from these plots.

More land will be made available through its other agencies for retail facilities in Housing Board estates, industrial estates, MRT stations, as well as sports and community facilities, URA added.