Release of Second Half of 2021 Government Land Sales (GLS) Programme and Tender Launch for the Reserve List site at Marina View
Jun 10, 2021
1. The Government today announced the Government Land Sales (GLS) Programme for the second half of 2021 (2H2021), and the acceptance of an application from a developer to put up the White site at Marina View for sale by public tender.
2H2021 GLS Programme
2. The GLS Programme for 2H2021 comprises four Confirmed List sites and nine Reserve List sites. These sites can yield about 6,860 private residential units, 90,000 sqm gross floor area (GFA) of commercial space and 530 hotel rooms (see Appendix 1).
3. The Confirmed List comprises four private residential sites [including one Executive Condominium (EC) site] which can yield about 2,000 private residential units (including 375 EC units). In addition, the Reserve List comprises six private residential sites (including one EC site), two White sites and one hotel site. These sites can yield about 4,860 private residential units (including 700 EC units), 90,000 sqm GFA of commercial space and 530 hotel rooms.
4. The Government will continue to monitor economic and property market conditions closely and adjust the supply of future GLS Programmes, as necessary.
Supply of Private Housing
5. The Government has carefully calibrated the supply of private housing in the 2H2021 GLS Programme, taking into account several factors.
6. The unsold inventory of private housing units has declined over the past year amidst strong demand. Nonetheless, even as the economy is recovering from the recession in 2020, there are continued uncertainties in the economic and labour market conditions due to the ongoing COVID-19 situation globally and locally. On balance, the Government has decided to moderately increase the supply of private housing on the Confirmed List to 2,000 units for the 2H2021 GLS Programme, up from 1,605 units for the 1H2021 GLS Programme. The supply on the Reserve List also gives developers a good selection of sites to initiate for development.
Supply of Commercial Space
7. The White site at Woodlands Avenue 2 for a mixed-use development will be carried over from the 1H2021 Reserve List to the 2H2021 Reserve List. This site will provide opportunity for developers to initiate the development of more office and retail space if there is demand.
Supply of Hotel Rooms
8. The 2H2021 Reserve List includes the site at River Valley Road, which is carried over from the 1H2021 Reserve List. This site will provide opportunity for developers to initiate additional supply of hotel rooms if there is demand.
White site at Marina View
9. The Marina View site (see Appendix 2) was on the Reserve List of the 1H2021 GLS Programme (see Appendix 3). This site can yield about 905 private residential units, 2,000 sqm GFA of commercial space and 540 hotel rooms. The Urban Redevelopment Authority (URA) received an application from a developer who has committed to submit a bid at a minimum price of $1,508,000,000 in the tender for the land parcel. As the minimum price committed by the developer is assessed to be acceptable to the Government, URA will release the site for sale by public tender on 28 June 2021.
Appendix 1
------------
PROPOSED RESIDENTIAL, COMMERCIAL AND HOTEL SITES FOR 2H2021 GLS PROGRAMME
|
(1) The estimated number of dwelling units (DU) for Executive Condominium sites and sites in Central Area take into account the average unit sizes of recent comparable developments. The Development Control guidelines issued on 17 Oct 2018 for the maximum allowable number of residential units are used to estimate the yield of residential units for sites in Outside Central Area. The estimated number of residential units have been adjusted based on revised site areas.
(2) New sites introduced in 2H2021.
(3) Site is imposed with a childcare centre of 500 sqm GFA.
(4) Site is imposed with a DU cap of 520 residential units.
(5) Site is imposed with a DU cap of 565 residential units.
(6) This is a Master Developer site with a total GFA of 390,000 sqm to be completed in phases over an estimated 11 to 13 years. The residential units for the site will be capped at 4,000 units and the non-residential GFA is capped at 50,000 sqm (including a retail cap of 10,000 sqm GFA). The estimation of 1,000 residential units and 10,000 sqm GFA of commercial space is based on the respective quanta expected to kick-start Phase 1 of the development and build up critical mass for this car-lite precinct.
(7) Site is imposed with a retail cap of 33,000 sqm GFA and a minimum office quantum of 45,000 sqm GFA.
(8) Site is imposed with a retail cap of 2,000 sqm GFA.
(9) Refers to estimated date the detailed conditions of sale will be available and applications can be submitted.
|
Appendix 2
------------
Details of Land Parcel at Marina View
| Location |
Marina View |
| Site Area / Horizontal Cross-Sectional Area |
Plot 1: 7,817.6 m2 (Land Parcel)
Plot 2: 18.0 m2 (Subterranean Stratum) (1) |
| Land Use Zoning |
White site |
| Maximum Gross Floor Area (GFA) |
101,629 m2 |
| Maximum Building Height |
Not exceeding 200 m SHD (2) and 245 m SHD (2) for roof articulation |
| Estimated Number of Housing Units (3) |
905 units |
| Estimated Number of Hotel Rooms (4) |
540 |
| Lease Period |
99 years |
|
(1) Estimated cross-sectional area and subject to cadastral survey
(2) Building height is based on Singapore Height Datum
(3) Actual number of dwelling units provided by the developer may vary
(4) Actual number of hotel rooms provided by the developer may vary
|
More details of the land parcel are available on the URA website at https://www.ura.gov.sg/Corporate/Land-Sales/Sites-For-Application.
Location Plan for Land Parcel at Marina View
Appendix 3
------------
Status of the GLS Programme for the First Half of 2021 (1H2021)
(as at 10 June 2021)
1. The first half of 2021 (1H2021) GLS Programme comprises thirteen sites, of which four are on the Confirmed List and nine are on the Reserve List.
2. To date, two of the Confirmed List sites have been launched for tender and the remaining two Confirmed List sites will be launched in the later part of June 2021.
3. The Reserve List site at Marina View has been successfully triggered. The public tender for the site will be launched on 28 June 2021. The tender period for the land parcel will be about 12 weeks.
4. As a result, a total of five residential sites, two White sites and one hotel site remain on the 1H2021 Reserve List and will be carried over to the second half of 2021 (2H2021) GLS Programme.