Govt scales back land sales to developers
LAND sites for up to 8,770 private homes, including executive condominiums (ECs), have been announced by the Government. But the confirmed supply for the first half of next year is lower than the supply for the current half of this year.
The Ministry of National Development (MND) said yesterday that the Government Land Sales (GLS) Programme for the first half of next year will comprise six confirmed list sites and 13 reserve list sites.
These sites can yield up to 8,770 private residential units, including 1,010 EC units and 265,000 sq m gross floor area (GFA) of commercial space.
The confirmed list contains six private residential sites which can yield about 3,020 private residential units, including 490 EC units.
This confirmed supply of new private homes is lower than the 3,915 units - including 1,520 EC units - on the confirmed list of government land sales for the current second half of this year.
There are no commercial land sites on the confirmed list.
The reserve list, whose sites may not end up being launched, contains nine private residential sites - including one EC site - one commercial and residential site, two commercial sites and one White site which can be developed for commercial, residential or hotel developments, or a mix of such uses. These sites can yield about 5,750 private residential units and 265,000 sq m GFA of commercial space.
MND said supply from the GLS Programme, together with supply from projects in the pipeline, will be adequate to meet the demand for private housing and commercial space over the next few years.
RESIDENTIAL LAND SITES
The residential sites on the confirmed list for the first half of next year are located in the outside central region and rest of central region.
They are located in Sturdee Road, Tampines Avenue 10 (Parcel D), Lorong 6 Toa Payoh/Lorong 4 Toa Payoh, Choa Chu Kang Avenue 5 (an EC site) and West Coast Vale.
A commercial and residential site in Holland Road, originally placed on the second half of this year's confirmed list, has been transferred from the confirmed list to the reserve list to give developers more time to study the site and tender evaluation criteria before triggering it for sale.
A concept and price revenue tender will be adopted for this site. This is to ensure that the site's future development enhances Holland Village's unique charm and distinctive urban village character.
COMMERCIAL LAND SITES
A commercial site in Woodlands Regional Centre, in Woodlands Square, is up for sale in the reserve list.
This is to sustain the development momentum of Woodlands Regional Centre as a major commercial centre outside the city, in line with the Government's objective of decentralising employment centres to bring job opportunities closer to homes.
The reserve list will have two other sites for predominantly office developments: The White site in Marina View and commercial site in Beach Road will be carried over from the reserve list of the second half of this year.
Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand.
THE STRAITS TIMES