The Singapore government announced the second half 2017 Government Land Sales (GLS) programme today, which comprises six Confirmed List sites and 10 Reserve List sites.
Making this announcement through a press release, Urban Redevelopment Authority, said, “These sites can yield up to 8,125 private residential units and 83,590 sqm gross floor area (GFA) of commercial space.”
Overall, the total supply of 8,125 units from the second half of the GLS programme is higher than the supply of 7,465 units from the first half of the year.
The release further stated, “As the demand for new private housing from home buyers continued to rise in the first half of 2017, the number of unsold private housing units in the pipeline has declined. Hence, there is a need to inject a larger supply of residential sites through the GLS Programme to ensure that there is an adequate pipeline supply of new private housing units to meet the needs of our population.”
The confirmed list comprises four private residential sites (including one Executive Condominium site) and two commercial and residential sites which can yield 2,840 private residential units and 26,800 sqm GFA of commercial space.
The reserve list comprises nine private residential sites and one commercial site. These sites can yield 5,285 private residential units and 56,790 sqm GFA of commercial space, mostly for office use.
Further, a total of seven sites – five residential sites, one mixed use site and one commercial site – remain on the first half reserve list, and will be carried over to the second half.
The second half reserve list comprises nine private residential sites and one commercial site. These sites can yield 5,285 private residential units and 56,790 sqm GFA of commercial space, mostly for office use.
The supply of 2,840 units from the confirmed list is higher than the 2,330 units from the first half of the year, whereas the supply of 5,285 units from the reserve list is close to the 5,135 units from the first half.