Government Land Sales

Singapore to extend suspension of confirmed list in GLS programme

Singapore will continue to suspend the confirmed list of Government Land Sales (GLS) for another six months, given the poor property market conditions. The government had suspended the list for the first half of this year in October last year, placing all sale sites on the reserve list. The National Development Ministry said this will provide flexibility for the market to adjust supply according to the...

Govt slams brakes on industrial land supply

THE Government has moved to apply the brakes on the industrial land sales programme. Following the move to curb supply of land for private homes and commercial space, the Ministry of Trade and Industry (MTI) said it would move the remaining site - at Tampines Industrial Ave 4 - on the confirmed list for this year to the reserve list, and suspend its confirmed list of sites for sale in the first half of...

MTI suspends Confirmed List for Industrial GLS Programme

Singapore's Trade and Industry Ministry (MTI) announced on Wednesday that it is suspending the Confirmed List for the Industrial Government Land Sales (GLS) Programme. This is due to what it calls "significant and dynamic changes in global economic conditions". MTI said in view of the current uncertainties, the site at Tampines Industrial Avenue 4 will be moved from the Confirmed List to the Reserve List...

A prudent breather to ward off glut

IT IS a “prudent” move to let the market catch its breath and adjust, say analysts. And in any case, the sites that will remain available for sale after the Government moved yesterday to further curb the supply of land for private homes and commercial space would probably get few takes. The Ministry of National Development (MND) announced it will not release any private residential sites outside...

No new sites added to land sales programme for first half of 2009

The Singapore government will not be adding any new sites to its land sale programme for the first half of next year. The National Development Ministry (MND) says this is because the global economic outlook remains weak in 2009. This is expected to have an impact on Singapore's economy and property market. MND released its list of land parcels available for sale in the first half of next year on...

Steps to buoy the market

Did land-sale changes come too late? IN A market where sentiment rules, the Urban Redevelopment Authority's (URA) recent changes to the land sales programme have quite naturally cheered up developers. But has the intervention, which included cancelling the ongoing tenders for two sites, come a little late, and does the nature of the changes hint at the authorities being caught off-guard by the sharp fall...

MND’s move to cut land sales will not derail rejuvenation plans

The Singapore government’s move to cut the number of land sites it is putting up for sale will affect plans to redevelop certain parts of the country. But analysts say it will not slow efforts to rejuvenate the overall landscape as there are many other projects underway. In fact, the move was praised as a prudent one, given the difficult economic environment. Last Friday, the Ministry of National...

Govt applies brakes

Prompt move aimed at helping sentiment in sagging market THE Government has put the brakes on its land sales programme, as the outlook for the local economy and the property market takes a turn for the worse. The Ministry of National Development on Friday said it would move most of the land sites on its confirmed list this year to the reserve list, and suspend its confirmed list of sites for sale in the...

Analysts, developers applaud MND’s move to reduce land sales

The Singapore government has slashed the number of sites it is offering for sale in anticipation of falling demand due to the poor global economy. The Ministry of National Development (MND) has said no sites will be released under the confirmed list in the first half of 2009. And it has cut down the remaining sites for sale for the rest of 2008 from seven to just one. Five sites were moved to a reserve...

MND changes Government Land Sales programme for greater flexibility

The National Development Ministry has announced changes to the Government Land Sales (GLS) programme for the rest of 2008. It said that while Singapore's fundamentals remain sound, the global economic uncertainties have affected the outlook for the country's economy and property market. There were three main changes. Firstly, most of the sites under the confirmed list are being transferred to the...

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