The Government today announced the first half 2020 (1H2020) Government Land Sales (GLS) Programme, which comprises three Confirmed List sites and eight Reserve List sites. These sites can yield about 6,490 private residential units, 114,000 sqm gross floor area (GFA) of commercial space and 1,070 hotel rooms (see Appendix 1 [PDF, 66kb] & Appendix 2 [PDF, 11kb]).
The Confirmed List comprises two private residential sites [including one Executive Condominium (EC) site] and one commercial & residential site which can yield about 1,775 private residential units (including 600 EC units) and 22,000 sqm GFA of commercial space.
The Reserve List comprises four private residential sites (including one EC site), three White sites and one hotel site. These sites can yield about 4,715 private residential units (including 595 EC units), 92,000 sqm GFA of commercial space and 1,070 hotel rooms.
Supply of Private Housing
The supply of private housing units in the pipeline remains high, at around 39,000 units currently, even though it has declined progressively over the past few quarters1. This pipeline supply comprises around 34,000 unsold units from GLS and en-bloc sale sites with planning approval, and an additional 5,000 units from sites that are pending planning approval2.
While the demand for private housing units has increased in the past two quarters, the overall transaction volume has remained modest relative to the period leading up to the introduction of the property market cooling measures in July 2018. Meanwhile, developers’ demand for residential land remains moderate and there continues to be bidding interest for GLS tenders.
To continue to cater to the housing needs of the population, the Government has decided to keep the supply of private residential units on the Confirmed List for the 1H2020 GLS Programme broadly similar to that for the 2H2019 GLS Programme3. The Government will continue to monitor the property market closely and adjust the supply for future GLS Programmes, as necessary.
Supply of Commercial Space
The 22,000 sqm GFA of commercial space on the Confirmed List is mainly from the predominantly residential site at Jalan Anak Bukit with an integrated bus interchange, and will provide amenities for commuters and residents in the area.
The 1H2020 Reserve List includes a White site at Woodlands Avenue 2 for a mixed-use development, which is carried over from the 2H2019 Reserve List. This 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
The 1H2020 Reserve List includes two sites at Marina View and River Valley Road, which are carried over from the 2H2019 Reserve List. These sites will provide ample opportunities for developers to initiate additional supply of hotel rooms over and above the current pipeline supply.
1There was a supply of around 45,000 private housing units in the pipeline as at end-2018. 2These are from awarded GLS and en-bloc sale sites, as well as Confirmed List GLS sites that have not been awarded yet, as at 3Q2019. 31,715 private residential units were made available via the Confirmed List of the 2H2019 GLS Programme.