Singapore releases land supply for GLS programme

The sites could yield around 2,840 residential units.

Singapore will be releasing land under the Government Land Sales (GLS) Programme which comprises six Confirmed List sites and 10 Reserve List sites.

According to the Ministry of National Development, these sites can yield up to 8,125 private residential units and 83,590 sqm gross floor area (GFA) of commercial space.

The Confirmed List comprises four private residential sites (including one Executive Condominium site) and two commercial & 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.

The supply of 2,840 units from the Confirmed List is higher than the 2,330 units from the 1H17 Confirmed List, whereas the supply of 5,285 units from the Reserve List is close to the 5,135 units from the 1H17 Reserve List.

Overall, the total supply of 8,125 units from the 2H2017 GLS Programme is higher than the supply of 7,465 units from the 1H2017 GLS Programme.

"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," MND said in a statement.

Meanwhile, the 2H17 Reserve List includes one site at Woodlands Square for a mixed-use development comprising mainly office space. This site will allow developers to initiate the development of more office space if they assess there is demand.