Govt releases H1 2014 land sites for sale

The government will be releasing eight confirmed list sites and 15 reserve list sites under the Government Land Sales (GLS) programme for the first half of next year.

The sites can yield up to 11,600 private residential units, including 2,800 executive condominium (EC) units, and 193,000 square metres (sqm) gross floor area (GFA) of commercial space.

The number of units for the first half of next year is lower than the 14,200 units released for the second half of this year, and 14,000 units in the first half of this year.

In a statement on Wednesday, the Ministry of National Development (MND) said the new sites, together with the large supply of projects in the pipeline, are expected to be sufficient to meet the demand for private housing and commercial space over the next few years.

The confirmed list contains three private residential sites, four EC sites, and one commercial and residential site.

The land parcels in the suburban or city fringe areas can yield about 4,600 private homes (including 2,200 EC units) and 5,000 sqm GFA of commercial space.

The residential units will be added to the existing pipeline supply of about 97,400 private housing units, including ECs.

MND said tenders for two pairs of sites — which are located close to each other — on the confirmed list will be batched to encourage more prudent bidding by developers

Meanwhile, the reserve list contains 13 private residential sites — including one EC site — which can yield about 7,000 private residential units, including 600 EC units.

The reserve list also included a white site at Marina View and a commercial site at Sims Avenue, which will offer 88,000 sqm GFA of commercial space.

MND said these two plots will provide opportunities for interested developers if there is demand above the 1.1 million sqm GFA of office space in the pipeline.

Source : Channel NewsAsia – 18 Dec 2013

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