Release of First Half 2018 Government Land Sales (GLS) Programme
Dec 13, 2017
Release of First Half 2018 Government Land Sales (GLS) Programme
1. The Government today announced the first half 2018 (1H2018) Government Land Sales (GLS) Programme, which comprises six Confirmed List sites and nine Reserve List sites. These sites can yield about 8,045 private residential units and 63,960 sqm gross floor area (GFA) of commercial space (see Appendices 1 & 2).
2. The six Confirmed List sites are private residential sites [including one Executive Condominium (EC) site] which can yield 2,775 private dwelling units (including 450 EC units) and 4,450 sqm GFA of commercial space.
3. The Reserve List comprises eight private residential sites (including two EC sites) and one commercial site. These sites can yield 5,270 private dwelling units (including 1,255 EC units) and 59,510 sqm GFA of commercial space, mostly for office use.
Supply of Private Housing
4. In working out the supply for the 1H2018 GLS Programme, the Government had taken into consideration several factors.
5. On the one hand, there is strong demand for sites by real estate developers, and a pick-up in transaction volumes. On the other hand, there is a large potential supply of around 20,000 units from awarded en-bloc sale and GLS sites that have not yet been granted planning approval, on top of the around 18,000 unsold units that already have planning approval. Moreover, there are more than 30,000 existing private housing units that remain vacant.
6. Therefore, on balance, the Government has decided to keep the total supply of units for 1H2018 at about the same level as the supply of units from the 2H2017 GLS Programme.
7. Taken together, the total supply in the pipeline, including the units from the 1H2018 GLS Programme, will be adequate to meet the purchase demand for new private housing from home buyers over the next 1-2 years. When these are completed, the overall stock of private housing will be more than sufficient to meet Singaporeans’ housing needs.
Supply of Commercial Space
8. The 1H2018 Reserve List will have one site at Woodlands Square for a mixed-use development comprising mainly office space. This site will allow developers to initiate the development of more office space if they assess that there is demand.
Appendix 1
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PROPOSED RESIDENTIAL, COMMERCIAL AND HOTEL SITES FOR 1H2018 GLS PROGRAMME
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(1) The estimated number of dwelling units for some sites carried forward from 2H2017 Reserve List have been updated to take into account the revisions to site areas.
(2) Site is imposed with a retail cap of 450 sqm GFA and DU cap of 1,125 units.
(3) New sites introduced in 1H2018.
(4) Site is imposed with a retail cap of 4,000 sqm GFA.
(5) Refers to estimated date the detailed conditions of sale will be available and applications can be submitted.
(6) Site is imposed with a DU cap of 116 units.
(7) Site is imposed with a DU cap of 640 units.
(8) Site is imposed with a retail cap of 4,500 sqm GFA.
(9) Site is imposed with a retail cap of 3,000 sqm GFA.
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Appendix 2
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Status of the GLS Programme for the Second Half of 2017 (2H2017)
(as at 13 December 2017)
1. The second half of 2017 (2H2017) GLS Programme comprised 16 sites, of which six are on the Confirmed List and 10 are on the Reserve List.
2. To date, tenders for four Confirmed List sites are on-going and the remaining two Confirmed List sites will be launched in later part of December 2017.
3. The Reserve List sites at Jiak Kim Street, Fourth Avenue and West Coast Vale have been successfully triggered. The tenders for the Jiak Kim Street and Fourth Avenue sites have been awarded on 8 December 2017 while the West Coast Vale site will be sold by February 2018.
4. As a result, a total of seven sites [i.e. six residential sites and one commercial site] remain on the 2H2017 Reserve List and will be carried over to the first half 2018 (1H2018) GLS Programme.