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Release of second half 2018 Government Land Sales (GLS) Programme

  Published: 27 June 2018

The Government today announced the second half 2018 (2H2018) Government Land Sales (GLS) Programme, which comprises six Confirmed List sites and nine Reserve List sites. These sites can yield up to 8,040 private residential units, 124,200 sqm gross floor area (GFA) of commercial space and 930 hotel rooms (see Appendix 1 & Appendix 2 [PDF, 6kb]). 

The six Confirmed List sites comprise four private residential sites [including one Executive Condominium (EC) site], one White site and one Hotel site which can yield 2,705 private residential units (including 695 EC units), 42,200 sqm GFA of commercial space and 390 hotel rooms. 

The Reserve List comprises seven private residential sites (including one EC site) and two White sites. These sites can yield 5,335 private residential units (including 515 EC units), 82,000 sqm GFA of commercial space and 540 hotel rooms.

Supply of Private Housing   

There is a healthy supply of private housing in the pipeline. We expect around 20,000 units1 from GLS and en-bloc sale sites that are pending planning approval, on top of the 24,000 unsold units from projects with planning approval. In addition, more than 30,000 existing private housing units remain vacant.   

Nevertheless, there continues to be strong demand for land from developers. Transaction volumes are also rising. Hence, the Government has decided to keep the total supply of units for the 2H2018 GLS Programme at about the same level as the supply from the 1H2018 GLS Programme. 

Taken together, the total supply in the pipeline will be able to meet home buyers’ demand over the next 1 to 2 years, and to meet our population’s housing needs. 

The Government will continue to monitor the property market closely and adjust the supply from future GLS Programmes, when necessary. 

Supply of Commercial Space 

The Government is releasing a White site at Woodlands Square / Woodlands Avenue 2 on the Reserve List of the 2H2018 GLS Programme. This site will help to sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of decentralising employment centres to bring job opportunities closer to homes.
 
Supply of Hotel Rooms

In 2017, Singapore registered a growth of 6.2% in International Visitor Arrivals to welcome 17.4 million visitors. With the favourable global economic outlook, the Singapore Tourism Board is optimistic about tourism prospects for Singapore in the next few years. The Government is releasing two new sites that can supply new hotel rooms at Club Street and Marina View via the 2H2018 GLS Programme. These sites will allow developers to provide additional hotel rooms to meet the expected growth in demand.


1 These are from awarded GLS and en-bloc sale sites, as well as Confirmed List GLS sites that have not been awarded yet.

 


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