URA launches for sale waterfront West Coast Vale site

URA released a residential site at West Coast Vale for sale under the Confirmed List of 1st Half 2015 GLS Programme.
URA released a residential site at West Coast Vale for sale under the Confirmed List of 1st Half 2015 GLS Programme.PHOTO: URA

SINGAPORE - The Urban Redevelopment Authority (URA) released on Thursday a residential site at West Coast Vale for sale under the Confirmed List of 1st Half 2015 Government Land Sales (GLS) Programme.

Located along the waterfront of Sungei Pandan, the 18,908 square meter parcel can potentially yield about 595 residential unitsfrom its maximum gross floor area of 52,945 sq m.

The tender for the 99-year leasehold site will close at 12 noon on Aug 4, 2015.

The Government last week announced a cut in the supply of land for residential development under its biannual GLS programme to the lowest since the global financial crisis in the face of a rising supply glut in the pipeline.

For the second half of 2015, four sites that can yield 2,130 homes, including one executive condominium (EC) land parcel that can be developed into 520 units, will be made available under the Confirmed List.

This is about 30 per cent less than the 3,020 units that were on the Confirmed List for the first half of this year.