Some 7,960 private residential units to be built in second half of 2008

The government will release enough land to build about 7,960 private residential units in the second half of this year.

The sites will also produce 400,000 square metres of gross floor area of commercial space and 5,750 hotel rooms.

The details were released by the Ministry of National Development (MND) on Thursday when it announced the Government Land Sales (GLS) programme for the second half of 2008.

Under the latest programme, two new sites will transform the Jurong Lake District and Kallang Riverside into a destination for work, life and play.

And as part of the government’s drive to open new growth areas, a new white site at Jurong East St 13 has been set aside to kickstart the development of a commercial hub at Jurong Gateway.

In total, 13 new sites have been added to the land sales programme. These comprise six residential, three commercial, three hotels and one white.

26 unsold sites from the first half of 2008 and one unsold site from the second half of 2007 will be carried over to the second half land sales programme.

This means there are 40 sites in total for sale in the second half. These comprise 21 residential sites that can yield about 7,960 private residential units, six commercial sites which make up 400,000 square metres gross floor area, 11 hotel sites that can produce 5,750 hotel rooms and two white sites.

Eight sites will be sold under the confirmed list – of which six are new and two are carried over. The six new ones include three commercial sites which are the existing Capitol Theatre, Capitol Building, Stamford House and Capitol Centre.

Both Capitol Building and Stamford House have been gazetted for conservation. The other commercial sites are at Mohamad Sultan Road and Mountbatten Road.

Meanwhile, two new residential sites have been released at Yio Chu Kang Road and Sembawang Greenvale. There is also a confirmed hotel site at Bukit Chermin Road.

A total of 32 sites will be placed on the reserve list for the second half of this year. Seven are new while 24 were carried over. The reserve list includes two hotel sites at Kallang River and Short Street.

MND said this will provide flexibility for the market to adjust the supply to meet the demand. – CNA/vm

Source : Channel NewsAsia – 19 Jun 2008

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