More private residential units to be built in 2011

The National Development Ministry (MND) announced it would place 17 sites on the Confirmed List of the Government Land Sales (GLS) programme for the first half of next year.

It said this would ensure a strong supply of private housing to meet demand.

These sites can yield about 8,100 residential units.

In addition, the Reserve List will have 13 sites, which can together yield about 6,200 residential units.

In total the GLS programme for the first half of next year will have total of 30 sites for residential development, which can generate about 14,300 private residential units.

MND said this is higher than the 13,900 private residential units made available in GLS programme for the second half of this year.

The increase is due mainly to an increase in the Reserve List supply, that is, from about 5,800 units in second half 2010 to 6,200 units in first half 2011.

Of the 30 sites in the 1H2011 GLS Programme, 17 are new sites.

The remaining 13 sites are carried over.

Source : Channel NewsAsia – 25 Nov 2010

COMMENTS