SINGAPORE - The supply of private homes under the Government Land Sales (GLS) programme for the second half of this year has been raised, in response to land-hungry developers, resilient demand and declining unsold inventory.
The number of homes on the confirmed list has increased by 25.8 per cent to 3,505 units, up from 2,785 units for the first half of the year.
Among the sites announced by the Government on Tuesday (June 7) is the first plum site in Marina Gardens Lane in Marina South precinct, next to Gardens by the Bay. The entire precinct has a potential yield of more than 10,000 units.
Ms Catherine He, Colliers' head of research in Singapore, noted that the supply of 3,505 units is the biggest since the second half of 2014, when 3,915 units were introduced. This will provide "a much-needed boost" for developers to shore up their land bank, she said.
The sites will likely attract healthy bidding as they are located at upcoming residential estates including Hillview and Lentor, and should see strong demand from upgraders, she added.
In all, there are 14 sites under the GLS programme for the second half of this year - six confirmed list sites and eight reserve list sites. These sites can yield about 7,310 private residential units, 94,750 sq m gross floor area (GFA) of commercial space and 530 hotel rooms.
On the confirmed list, there are five private residential sites, including one executive condominium (EC) site, and one commercial and residential site. These can yield 3,505 private residential units (including 495 EC units) and 14,750 sq m GFA of commercial space.
https://www.straitstimes.com/busine...ing-supply-in-government-land-sales-programme
add a zero behind, ulu new estates already going for $2200 psf
