The Ministry of National Development (MND) announced on Thursday the first half 2015 (1H2015) Government Land Sales (GLS) Programme, which will comprise 6 confirmed list sites and 13 reserve list sites. These sites can yield up to 8,770 private residential units, including 1,010 executive condominium (EC) units and 265,000 sq metre gross floor area (GFA) of commercial space.
The confirmed list contains 6 private residential sites (including 1 EC site) which can yield about 3,020 private residential units, including 490 EC units. Sites on the confirmed list will be launched for tender as scheduled regardless of demand.
This confirmed supply of new private homes is lower than the 3,915 units (including 1,520 EC units) on the confirmed list of government land sales for the current second half of this year.
There are no commercial land sites on the confirmed list.
The reserve list, whose sites may not end up being launched, contains 9 private residential sites (including 1 EC site), 1 commercial & residential site, 2 commercial sites and 1 White site. These sites can yield about 5,750 private residential units and 265,000 sqm GFA of commercial space.
MND said supply from the GLS Programme, together with supply from projects in the pipeline, will be adequate to meet the demand for private housing and commercial space over the next few years.
More on residential land sites:
1. They are located in Outside Central Region and Rest of Central Region.
2. The commercial & residential site at Holland Road, originally placed on the 2H2014 confirmed list, has been transferred from the confirmed list to the reserve list to give developers more time to study the site and tender evaluation criteria before triggering it for sale.
A concept and price revenue tender will be adopted for this site. This is to ensure that the site's future development enhances Holland Village's unique charm and distinctive urban village character.
More on commercial land sites:
1. A second commercial site in Woodlands Regional Centre at Woodlands Square is up for sale in the reserve.
This is to sustain the development momentum of Woodlands Regional Centre as a major commercial cetre outside the city, in line with the Government's objective of decentralising employment centres to bring job opportunities closer to homes.
2. The reserve list will have 2 other sites for predominantly office developments: The White site at Marina View and commercial site at Beach Road will be carried over from the reserve list of the second half of 2014.
Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand.
Apart from the GLS Programme, the Government will also make available other supply of land and properties through its various agencies to meet economic or development objectives. These include localised retail facilities at parks, selected HDB estates, industrial estates, MRT stations, sport facilities, community centres and the leasing of vacant state properties for commercial uses.