Supply of private homes under GLS for 2017 surges 7.3%

Around 2,330 units is on the Confirmed List for 1H17.

The Ministry of National Development has released the first half of 2017 Government Land Sales Programme, which comprises five Confirmed List sites and ten Reserve List sites.

The sites yield up to 7,465 private residential units and 158,080 sqm gross floor area of commercial space.
The ministry said the Confirmed List comprises five private residential sites which can yield 2,330 private units, 7.3% higher than the supply of 2,170 units from the second half of 2016 Confirmed List.

Meanwhile, the Reserve List comprises seven private residential units including one Executive Condominium site, one commercial & private residential units, and two commercial sites. The supply of 5,135 residential units from the Reserve List is slightly lower than last half-year's 5,375 units.

More so, the Reserve List includes two commercial sites Beach Road and Woodlands Square for mixed-use developments comprising mainly office space. These sites will allow developers to initiate the development of more office space if they assess there is demand.