ASEAN KEY DESTINATIONS
Government releases 23 land sites for sale
SINGAPORE: The Government on Tuesday (June 10) announced the launch of nine confirmed list and 14 reserve list sites under the second half of the Government Land Sales (GLS) Programme.
These 23 sites can collectively yield up to 10,200 private residential units - including 1,500 Executive Condominium (EC) units - and 352,000 square metres (sq m) of gross floor area of commercial space, the Ministry of National Development (MND) said in a release.
Confirmed list sites go on sale regardless of interest from developers, while reserve list sites are triggered for a public tender only if a developer makes an acceptable opening offer.
The confirmed list comprises six private residential sites, including three EC sites, two commercial and residential sites, and one commercial site. The sites on the confirmed list can yield about 3,900 private residential units, including 1,500 EC units, and 159,000 sq m gross floor area of commercial space.
The reserve list comprises 12 private residential sites, one commercial site and a White site. These sites can yield about 6,300 private residential units and 193,000 sq m gross floor area of commercial space.
The MND said that the GLS Programme, together with the “large supply” from projects in the pipeline, is expected to be adequate to meet the demand for private housing and commercial space over the next few years.
The residential sites to be placed on the confirmed list are located across all regions in Singapore.
MND added a commercial and residential site at Holland Road will be placed on the confirmed list as part of the Holland Village Extension plan unveiled in the Master Plan 2014. It said the site will provide “new housing options within a mixed use development that is well connected via pedestrian linkages to surrounding transport nodes and public spaces”.
MND also said it will be releasing a commercial site at Paya Lebar Road for sale on the confirmed list. The 3.98-hectare (ha) site comprises a commercial site that was on the reserve list for the first half of 2014, and another plot of land immediately south of Paya Lebar MRT station. The two plots of land will be connected via a subterranean space under Sims Avenue. “The sale of the site will facilitate the development of Paya Lebar Central into a commercial node, which is in line with the Government’s objective of decentralising employment centres and bringing jobs closer to homes,” the ministry said.
Two sites for office developments will also be placed on the reserve list - a white site at Marina View and a commercial site at Beach Road. These sites will provide opportunities for the market to initiate the development of more office space if there is demand, MND said.
Apart from the GLS Programme, the Government will also make available other supply of land and properties through its various agencies. These include localised retail facilities at HDB estates, industrial estates, MRT stations, sport facilities and community, MND said.
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