The Confirmed List includes one executive condominium (EC) site at Tengah Garden Walk that can yield 615 units.
The supply of private housing units from the Confirmed List sites under the Government Land Sales (GLS) Programme for the second half of 2020 has been reduced to take into account the uncertain business outlook and economic contraction brought about by the COVID-19 pandemic.
This time, there will be three Confirmed List Sites and nine Reserve List Sites. In total, the sites can yield about 6,670 private residential units, 101,500 sqm gross floor area (GFA) of commercial space and 1,070 hotel rooms.
Moreover, no new sites for predominantly hotel or commercial use will be introduced in the 2H 2020 GLS Programme, the Ministry of National Development (MND) announced on Wednesday (24 June).
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“However, we have to calibrate the reduction carefully to avoid potential supply shortfalls over the medium to longer-term,” said the ministry.
“Hence, we have maintained a good selection of sites with additional supply in the Reserve List that developers can initiate for development if they assess that there is demand.”
MND revealed that the three private residential sites under the Confirmed List can yield around 1,370 private homes, including one executive condominium (EC) site at Tengah Garden Walk that can yield 615 units.
Meanwhile, of the eight sites on the Reserve List, five are private residential sites, which includes one EC site. Including the 590 EC units, the total homes the sites can yield is around 5,300 private homes.
Desmond Sim, Head of Research for Southeast Asia at CBRE, said the two confirmed sites at Ang Mo Kio Avenue 1 and Northumberland Road offer developers options within mature housing estates.
“Overall, the measured supply in the 2H 2020 GLS Programme is not surprising against the backdrop of the COVID-19 pandemic,” said Sim.
“This is a degustation menu as the Confirmed List presents palatable sites with smaller units but with greater variety in terms of location. Should any developers’ appetite for land be unsatiated, they can still order from the Reserve List,” he added.
MND noted that the Confirmed List sites will be launched in Q4 2020. Each site will have a longer tender period of six months to provide developers “more time to make their assessment in view of the ongoing COVID-19 situation”.
Here are the Confirmed List and Reserve List sites according to MND:
|S/N||Location||Site Area (ha)||Proposed GPR||Estimated No. of Residential Units||Estimated No. of Hotel Rooms||Estimated Commercial Space (m2)||Estimated Launch Date||Sales Agent|
|1||Northumberland Road||0.83||4.2||385||0||1,500||Oct 2020||URA|
|2||Ang Mo Kio Avenue 1||1.26||2.5||370||0||0||Nov 2020||URA|
|3||Tengah Garden Walk (EC)||2.20||2.8||615||0||0||Nov 2020||HDB|
|Total (Confirmed List)||1,370||0||1,500|
|S/N||Location||Site Area (ha)||Proposed GPR||Estimated No. of Residential Units||Estimated No. of Hotel Rooms||Estimated Commercial Space (m2)||Estimated Available Date||Sales Agent|
|1||Dairy Farm Walk||1.56||2.1||385||0||0||Available||URA|
|4||Tampines Street 62 (EC)||2.37||2.5||590||0||0||Available||HDB|
|5||Lentor Central||1.72||3.5||610||0||8,000||Dec 2020||URA|
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org