Dec 20, 2013

    Rolled-over sites to steal limelight in H1 2014 GLS

    THE Ministry of National Development may have introduced seven new sites across the confirmed and reserve lists for the H1 2014 Government Land Sales (GLS) Programme, but it is the older sites on the current H2 2013 slate being rolled over that will steal the limelight.

    Among private-condo sites, the 2.5ha land parcel at Prince Charles Crescent (Parcel B) is expected to garner the most interest, as this is the only site on the confirmed list that is located in the city fringe, said DTZ's head of Singapore research, Ms Lee Lay Keng.

    The site, which can generate about 655 homes, is next to Wing Tai's The Crest condo project.

    Among executive-condominium (EC) sites, Ms Lee said the land parcel in Choa Chu Kang Drive is likely to attract a higher number of bids.

    "Developers may be more confident about this site, given that the adjacent EC development, The Rainforest, is already fully sold," she added.

    The site, which can generate about 535 units, is a short distance from Choa Chu Kang MRT station.

    Next to Potong Pasir MRT station, a commercial and residential site along Upper Serangoon/

    Meyappa Chettiar roads is also expected to be popular.

    The above three sites will be moved from the reserve list of the current H2 2013 GLS Programme to the confirmed list for the first half of next year.

    Reserve-list sites are launched for tender only upon successful application by a developer, unlike sites on the confirmed list, which are released according to a prestated schedule, regardless of demand.

    Among the new sites on the confirmed list are two pairs of adjacent sites with simultaneous tender closings for each set under the "batched tender" system. The first pair of sites, in Yishun Street 51, are for EC development and will be launched in March.

    In June, the second pair of adjacent sites, along Fernvale Road in Sengkang West, will be launched. These are for private-housing development.

    Existing reserve-list sites carried over to the H1 2014 reserve list also include some private-housing sites in choice locations, noted Ms Chia.

    These include Alexandra View (Parcel A), next to Redhill MRT station; a land parcel in Siglap Road near East Coast Park and its amenities; and a plot at Boon Lay Way near Lakeside MRT station.

    Others include a site in Lorong Lew Lian near Serangoon MRT station and nex shopping mall; as well as a land parcel in Toa Payoh Lorong 6/Lorong 4, a stone's throw from Braddell MRT station, Ms Chia added.