Release of First Half 2019 Government Land Sales (GLS) Programme

Dec 6, 2018 08:30


Release of First Half 2019 Government Land Sales (GLS) Programme


1. The Government today announced the first half 2019 (1H2019) Government Land Sales (GLS) Programme, which comprises five Confirmed List sites and nine Reserve List sites. These sites can yield about 6,475 private residential units, 86,000 sqm gross floor area (GFA) of commercial space and 1,115 hotel rooms (see Appendices 1 & 2).


2. The five Confirmed List sites are private residential sites [including one Executive Condominium (EC) site] which can yield about 2,025 private residential units (including 385 EC units) and 4,000 sqm GFA of complementary commercial space.


3. The Reserve List comprises six private residential sites (including one EC site), two White sites and one hotel site. These sites can yield about 4,450 private residential units (including 525 EC units), 82,000 sqm GFA of commercial space and 1,115 hotel rooms.


Supply of Private Housing


4. The supply of private housing units in the pipeline has grown significantly and is currently at 45,000 units. This comprises around 31,000 unsold units from GLS and en-bloc sale sites with planning approval, and an additional 14,000 units1 from sites that are pending planning approval. In addition, there are around 28,000 existing private housing units that remain vacant.


5. In contrast, demand has started to moderate. Following the introduction of the property market cooling measures in July, overall transaction volumes have declined, while developers’ demand for land has also moderated.


6. Given these factors, the Government has decided to moderate the total supply of private residential units for the 1H2019 GLS Programme2. Together with the supply in the pipeline, this will sufficiently cater to the housing needs of our population.


7. The Government will continue to monitor the property market closely and adjust the supply from future GLS Programmes, as necessary.


Supply of Commercial Space


8. The 1H2019 Reserve List will have one White site at Woodlands Avenue 2 for a mixed-use development. 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 bringing job opportunities closer to homes.


Supply of Hotel Rooms


9. A new hotel site at Sims Avenue will be added to the 1H2019 Reserve List. Together with the existing White site at Marina View carried over on the Reserve List from the 2H2018 GLS Programme, there will be ample opportunities for developers to initiate additional supply of hotel rooms over and above the current pipeline supply.




 

1 These are from awarded GLS and en-bloc sale sites, as well as Confirmed List GLS sites that have not been awarded yet, as at 3Q2018.

2 A total of 8,040 private residential units were made available via the 2H2018 GLS programme, comprising 2,705 units from the Confirmed List and 5,335 units from the Reserve List.



Appendix 1

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PROPOSED RESIDENTIAL, COMMERCIAL AND HOTEL SITES FOR 1H2019 GLS PROGRAMME

 

S/N Location Site Area (ha) Proposed GPR Estimated No. of DUs (1) Estimated No. of Hotel Rooms Estimated Commercial Space (m2) Estimated Launch Date Sales Agent
Confirmed List
Residential Sites
1 Clementi Avenue 1 (2) 1.65 3.5 640 0 0 Feb-19 URA
2 Tan Quee Lan Street (3) 1.15 4.2 580 0 2,000 Mar-19 URA
3 one-north Gateway (4) 0.58 2.5 170 0 0 Mar-19 URA
4 Bernam Street (3)(4) 0.39 5.6 250 0 2,000 May-19 URA
5 Canberra Link (EC) (4) 1.67 2.3 385 0 0 May-19 HDB
  Total (Confirmed List) 2,025 0 4,000  

 

S/N Location Site Area (ha) Proposed GPR Estimated No. of DUs (1) Estimated No. of Hotel Rooms Estimated Commercial Space (m2) Estimated Available Date (7) Sales Agent
Reserve List
Residential Sites
1 Bartley Road / Jalan Bunga Rampai (5) 0.47 2.1 115 0 0 Available URA
2 Canberra Drive 4.09 1.4 675 0 0 Available URA
3 Dairy Farm Walk 1.57 2.1 390 0 0 Available URA
4 Fernvale Lane (EC) (4) 1.87 2.8 525 0 0 Jun-19 HDB
5 Dunman Road (4) 2.60 3.5 1,070 0 0 Jun-19 URA
6 Hillview Rise (4) 1.00 2.8 330 0 0 Jun-19 URA
White Sites
7 Marina View (3) 0.78 13.0 905 540 2,000 Available URA
8 Woodlands Avenue 2 (6) 2.75 4.2 440 0 78,000 Dec-18 URA
Hotel Sites
9 Sims Avenue (3)(4) 0.46 4.2 0 575 2,000 May-19 URA
  Total (Reserve List) 4,450 1,115 82,000  
  Total (Confirmed List and Reserve List) 6,475 1,115 86,000  

(1) The estimated number of dwelling units 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 dwelling units are used to estimate the yield of non-landed residential units for sites in Outside Central Area. The estimated number of dwelling units for some sites are also adjusted based on revised site areas.  

(2) Site is imposed with a DU cap of 640 units

(3) Sites are each imposed with a retail cap of 2,000 sqm GFA  

(4) New sites introduced in 1H2019 

(5) Site is imposed with a DU cap of 116 units

(6) Site is imposed with a retail cap of 33,000 sqm GFA and a minimum office quantum of 45,000 sqm GFA

(7) Refers to estimated date the detailed conditions of sale will be available and applications can be submitted.


Appendix 2

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Status of the GLS Programme for the Second Half of 2018 (2H2018) 
(as at 6 December 2018)


1. The second half of 2018 (2H2018) GLS Programme comprised 15 sites, of which six are on the Confirmed List and nine are on the Reserve List.  


2. To date, all the six Confirmed List sites have been launched for tender and the tenders will close by end March 2019.  


3. The Reserve List site at Anchorvale Crescent (Executive Condominium) had been triggered for sale and was sold on 27 September 2018. The Reserve List site at Yishun Avenue 9 will be removed from 2H2018 Reserve List to facilitate a review of development plans in the area.


4. As a result, a total of five residential sites and two White sites remain on the 2H2018 Reserve List and will be carried over to the first half 2019 (1H2019) GLS Programme.