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GOVERNMENT
LAND SALES PROGRAMME FOR PRIVATE RESIDENTIAL, COMMERCIAL AND
HOTEL DEVELOPMENT FOR THE SECOND HALF OF 2005
1 The Ministry of National Development (MND) today announced:
a The Government Land Sales (GLS) Programme for private residential,
commercial and hotel development for the second half of 2005;
b
The supply of private residential, commercial and hotel space
from projects that would be initiated by various Government
agencies in the second half of 2005, apart from the GLS programme;
and
c The extension of the deadline for the re-assignment of GLS
sites by successful tenderers and private land owned by foreign
housing developers.
Background
2
Since October 2001, the GLS Programme has comprised mainly
sites on the Reserve List. Under the Reserve List, the Government
will only release a site for sale if an interested party submits
an application for the site to be put up for tender with an
offer of a minimum purchase price acceptable to the Government.
The successful applicant must undertake to submit a bid for
the site in the ensuing tender at or above the minimum price
offered in the application.
3 From time to time, the Government may release sites through
the Confirmed List. Sites under the Confirmed List are released
for tender at a pre-determined date, without the need for
the sale to be triggered by any application. The number of
sites in the Confirmed List in each GLS programme will depend
on market conditions, the strategic need for certain sites
to be developed and other factors.
No
Confirmed List for the Second Half of 2005
4 Since its introduction in June 2001, the Reserve List has
worked well in providing the market with the flexibility to
adjust supply in response to demand changes. Having reviewed
the market conditions and the list of sites to be released
through the GLS programme, the Government has decided not
to release any sites via the Confirmed List in the second
half of 2005. Sites will only be made available for sale via
the Reserve List in the second half of 2005.
Reserve List for the Second Half of 2005
5 At present, there are 7 residential sites, 2 "white"
sites, 3 commercial sites and 3 commercial & residential
sites remaining on the Reserve List of the GLS Programme for
the first half of 20051. These sites will
be carried over to the Reserve List for the second half of
2005.
6 In addition, the following 5 new sites will be added to
the Reserve List:
a Three residential sites at Sinaran Drive, Woodlands Avenue
2/Rosewood Drive and Elias Road/Pasir Ris Drive 3; and
b
Two commercial sites at Collyer Quay and Toa Payoh Lorong
6.
7 The three new residential sites at Sinaran Drive, Woodlands
Avenue 2/Rosewood Drive and Elias Road/Pasir Ris Drive 3 will
provide more choices for private housing development in different
parts of the island.
8
The commercial site at Collyer Quay comprises the existing
Clifford Pier and the former Custom Harbour Front buildings.
These buildings are intended for adaptive use as a retail
and lifestyle development to form part of a continuous loop
of activity-generating uses along the waterfront of Marina
Bay. Given the planning intention for the site, no office
use will be allowed for the site.
9
The other commercial site at Toa Payoh Lorong 6 is to meet
localised demand for commercial amenities.
10 The Reserve List for the second half of 2005 will therefore
consist of 10 residential sites, 2 “white” sites,
5 commercial sites and 3 commercial & residential sites
(see Annex 1). These sites can potentially
yield about 3,700 private residential units, 200,000 sqm of
commercial space and 345 hotel rooms.
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Other Government Supply to be made available in Second
Half of 2005
11 Apart from the GLS programme, the Government also makes
available other supply of land and properties which will provide
additional residential, commercial and hotel space. The Ministry
of National Development works closely with other agencies
to coordinate the supply from GLS and other sources of supply
made available by the Government.
Supply
from the Integrated Resorts
12 On 18 April 2005, the Government announced its decision
to proceed with two Integrated Resorts (IRs) in Singapore,
one at Marina Bay and another in Sentosa. The IRs are expected
to boost Singapore's tourism sector, enhance our appeal in
hosting conventions and exhibitions, and strengthen our status
as an aviation, entertainment and retail hub.
13
Based on the submissions from prospective investors in the
Request-For-Concepts exercise conducted in December 2004,
it is estimated that the two IRs could generate about 100,000
sqm of retail space and 3,400 hotel rooms in total. It is
expected that the growth in tourist arrivals and spending
generated by the IRs will create more than sufficient demand
for the additional supply of retail space and hotel rooms
from the 2 IRs. The IRs are also expected to generate spill-over
benefits for the tourism industry and the overall economy,
including the retail and hotel sectors.
14 The actual supply of retail space and hotel rooms from
the IRs would depend on the final concepts and designs proposed
by the selected developers.
Supply
from other Government projects
15 In addition to the supply of retail space and hotel rooms
from the IRs, the supply of private residential, commercial
and hotel space that is planned to be made available by the
Government outside the GLS programme in the second half of
2005 and completed over the next few years, is as follows:
a 195,000 sqm of commercial space2, mostly
for retail use, including:
| i
Ancillary retail facilities within the Sports Hub (e.g.
F&B outlets, bowling alley, health and fitness centre)
and Tuas Recreation Hub (about 50,000 sqm in total); |
| |
| ii
Retail facilities under the Economic Development Board’s
(EDB) Warehouse Retail Scheme (about 70,000 sqm); |
| |
| iii
Leasing of vacant State buildings to allow for the expansion
of commercial schools supported by EDB (20,000 sqm); |
| |
| iv
Spa development in Sentosa (12,000 sqm); |
| |
| v
Localised retail facilities in parks and recreation areas,
business parks, MRT stations and HDB estates; |
| |
| vi
Interim use of vacant state buildings and small land parcels;
and |
| |
| vii
Sale of conservation shophouses. |
b
1,200 hotel rooms3 from projects in Sentosa
and other locations; and
c
1,000 private residential units at Sentosa and other locations.
16
Most of the commercial space comes from a few major projects,
such as the Sports Hub, the Tuas Recreation Hub, the Warehouse
Retail Scheme and the leasing of vacant State buildings to
commercial schools. As in the case of the Integrated Resorts,
the major projects listed above are also expected to bring
economic and other benefits to Singapore. For example, the
Sports Hub, which will replace the National Stadium at Kallang,
is envisaged to be a venue for international sporting events
as well as a lifestyle and recreation hub. The Tuas Recreation
Hub can potentially be a new tourist attraction in Singapore.
The Warehouse Retail Scheme aims to attract new investments
to Singapore, by allowing businesses to co-locate various
operations such as regional headquarters, logistics and retail
functions in one location. The leasing of State buildings
to commercial schools which are targeting mainly international
students will help Singapore establish itself as a regional
education hub. Many of these major projects are expected to
cater to niche demand or create new demand for commercial
space.
17 The remaining projects, such as those in parks and recreation
areas, MRT stations and HDB estates, will be small-scale and
intended mainly to meet localized demand.
18 The announcement of the planned supply to be made available
by the Government outside the GLS programme will provide a
more complete picture of the overall Government supply of
space for the second half of 2005. The quantum is indicative
and may change as the plans are still under study. The actual
supply that will be realized would depend on market demand
and interest from investors.
Re-assignment
of GLS Sites by Successful Tenderers and Private Land by Foreign
Housing Developers
19
MND had announced in October 2001 that successful tenderers
of GLS sites and foreign housing developers of private land
can dispose of the land which is vacant or under development,
or dispose of their interest in the projects on such land,
if the transaction is not of a speculative nature. This measure
was extended to all developers of GLS sites awarded on or
before 23 June 2003 and foreign housing developers of projects
on private land for which the application for the Qualifying
Certificate (QC) was made on or before 23 June 2003. In June
2004, MND announced that the deadline for those who wish to
re-assign their land was extended to 30 June 2005.
20
The deadline to apply for such re-assignment has now been
further extended by one year to 30 June 2006. This will continue
to apply to all developers who were awarded GLS sites on or
before 23 June 2003, and foreign housing developers of projects
on private land for which the application for the QC was made
on or before 23 June 2003 (see Annex 2).
21 All applications for re-assignment of GLS sites are to
be made to the appropriate GLS agent. Applications by QC holders
for the re-assignment of private land are to be made to the
Controller of Housing.
For
media queries, please contact:
| 1 |
Three
sites on the Reserve List for the first half of 2005 have
been triggered for sale. These comprise a “white”
site at Marina Boulevard/Central Boulevard (the Business
& Financial Centre), a commercial (Entertainment)
site at Victoria Street and a commercial & residential
site at Jurong West Central 3/Jurong West Street 64. |
| |
|
| 2 |
Of the 70,000 sqm to 90,000 sqm of commercial space planned
to be made available by the Government outside the GLS
programme in the first half of 2005, only about 45,000
sqm was initiated. The remaining quantum of around 45,000
sqm is included in the 195,000 sqm of commercial space
to be made available in the second half of 2005. |
| |
|
| 3 |
This
includes 1,000 rooms, out of the total of 1,400 rooms
announced earlier for the first half of 2005, that have
been delayed. |
Issued
by: Ministry of National Development
Date: 23 June 2005
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ANNEX
1
SITES IN THE RESERVE LIST FOR SECOND HALF OF 2005
S/N
|
Location
|
Site
area (ha) |
Gross
Plot Ratio |
Likely
no. of units(1) |
Estimated
Available Date(2) |
Sales
Agent |
Residential
Sites |
| 1
|
Tampines
Road (PDF, 102 Kb) |
0.27
|
1.4
|
35
|
Already
available |
HDB
|
2
|
Lorong
9/11 Geylang
(PDF, 120 Kb) |
0.17
|
2.88
|
45
|
URA
|
3
|
Enggor
Street
(PDF, 97 Kb) |
0.58
|
8.4
|
465
|
URA
|
4
|
Choa
Chu Kang Road/Woodlands Road (above Bukit Panjang LRT
Depot)
(PDF, 80 Kb) |
1.50
|
3.0
|
200
|
URA
|
5
|
Handy
Rd (B)
(PDF, 197 Kb) |
0.36
|
2.8
|
75
|
URA
|
6
|
Tanah
Merah Kechil Ave
(PDF, 110 Kb) |
2.19
|
2.8
|
535
|
URA
|
7
|
Alexandra
Rd/Tiong Bahru Rd
(PDF, 84 Kb) |
0.97
|
4.9
|
415
|
URA
|
8
|
Sinaran
Drive(3)
(PDF, 99 Kb)
|
1.12
|
3.5
|
340
|
Oct
05 |
URA |
9
|
Woodlands
Ave 2/Rosewood Dr(3)
(PDF, 1038 Kb)
|
1.60
|
1.4
|
195
|
Nov
05 |
SLA |
10
|
Elias
Road/Pasir Ris Drive 3(3)
(PDF, 84 Kb)
|
1.40
|
3.0
|
365
|
Nov
05 |
HDB |
“White”
Sites |
1
|
Belilios
Road/Klang Lane
(PDF, 115 Kb) |
0.30
|
3.5
|
-
|
Already
available |
URA
|
2
|
Serangoon
Central
(PDF, 116 Kb)
|
2.50
|
3.5
|
265
|
LTA
|
Commercial
Sites |
1
|
Fairy
Point Hill
(PDF, 73 Kb) |
4.20
|
0.4
|
-
|
Already
available |
URA
|
2
|
Orchard
Rd/Paterson Rd
(PDF, 203 Kb) |
1.86
|
6.72
|
185
|
URA
|
3
|
Orchard
Rd/Killiney Rd
(PDF, 175 Kb) |
0.66
|
5.39
|
150
|
URA
|
4
|
Toa
Payoh Lorong 6(3)
(PDF, 73 Kb)
|
0.14
|
3.0
|
-
|
Dec
05 |
HDB |
5
|
Collyer
Quay(3)
(PDF, 94 Kb)
|
2.62
|
#
|
-
|
Dec
05 |
URA |
Commercial
& Residential Sites |
1
|
Punggol
Drive
(PDF, 110 Kb) |
1.39
|
3.0
|
220
|
Already
available |
HDB
|
2
|
Choa
Chu Kang North 6/Yew Tee Close
(PDF, 129 Kb) |
0.85
|
3.2
|
140
|
HDB
|
3
|
Seletar
Road
(PDF, 115 Kb) |
0.50
|
2.1
|
55
|
URA
|
| # |
The
Collyer Quay site comprises the existing Clifford Pier
and the former Custom Harbour Branch buildings. The site
is intended for the adaptive use of these buildings for
retail and lifestyle uses. The estimated gross floor area
of commercial space is 10,000 sqm. No office use is allowed. |
| |
|
| (1) |
The
estimated dwelling units for some sites carried forward
from the 1H2005 Reserve List have been updated to take
into account the average unit sizes of recent developments
in comparable areas. |
| |
|
| (2) |
Refers to the estimated date the detailed conditions
of sale will be available and applications can be submitted. |
| |
|
| (3) |
New
sites introduced in the 2H2005 GLS Programme. |
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ANNEX
2
RE-ASSIGNMENT
OF GLS SITES BY SUCCESSFUL TENDERERS AND PRIVATE LAND BY FOREIGN
HOUSING DEVELOPERS
1.
The successful tenderer of a GLS site is normally not allowed
to dispose of the land to a single purchaser before completion
of the development, i.e. before obtaining Temporary Occupation
Permit. He is also required to retain a controlling interest
of more than 50% in the development.
2. Foreign housing developers who wish to purchase private
residential land or properties for development are required
to apply to the Controller of Housing for a Qualifying Certificate
(QC) under the Residential Property Act. They are not allowed
to dispose of the land or change the shareholding of the company
without the prior written approval of the Controller.
3.
These restrictions are to ensure that such developers purchase
the land for development and not for speculative trading.
However the Government has decided that, where the transaction
is not of a speculative nature:
a.
For all GLS sites, the developer of the sale site (as at 23
June 2003) will be allowed to:
| i.
Dispose of the entire land, whether vacant or in the course
of development to a single party before TOP is obtained;
or |
| |
| ii.
Dispose of all his shares in the company undertaking the
development, provided that there is at least one party
who holds more than 50% of the shares in the company. |
The
purchaser will have to take over all the obligations under
the tender conditions/building agreement.
b. For QC holders who applied for their QC on or before 23
June 2003:
| i.
The QC holder may dispose of the land; or |
| |
| ii.
Dispose of all his shares in the company. |
4.
In seeking approval for re-assignment, an applicant must satisfy
the Government that the transaction is not of a speculative
nature.
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Last updated on 18 May 2006
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