Singapore, 8 December 2020 – The Urban Redevelopment Authority (URA) has announced the Government Land Sales (GLS) Programme for the first half of 2021 (1H2021), which comprises four confirmed list sites and nine reserve list sites. These sites can yield about 7,045 private residential units, 101,200-square-metre gross floor area (GFA) of commercial space and 1,070 hotel rooms.
The land supply from the 1H2021 GLS Programme has been carefully calibrated to take into account the COVID-19 and macroeconomic situation. Given the continued uncertainties in economic and labour market conditions, the government has decided to maintain a moderate supply of private residential units on the confirmed list and will not introduce any new sites for predominantly commercial or hotel use in the 1H2021 GLS Programme. Nonetheless, there is 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.
The confirmed list comprises four private residential sites with one Executive Condominium (EC) site, which can yield about 1,605 private residential units, including 590 EC units, and 9,200-square-metre GFA of commercial space.
The reserve list comprises five private residential sites with one EC site; three ‘white’ sites (a plot where a range of uses are allowed) and one hotel site. These sites can yield about 5,440 private residential units, including 700 EC units; 92,000-square-metre GFA of commercial space; and 1,070 hotel rooms.
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
The private housing supply in the 1H2021 GLS Programme, together with the supply of units already in the pipeline, will sufficiently cater to the housing needs of the population when completed in about four to five years’ time. The supply on the reserve list also gives developers a good selection of sites to initiate for development.
Supply of Commercial Space
The ‘white’ site at Woodlands Avenue 2 for a mixed-use development will be carried over from the 2H2020 reserve list to the 1H2021 reserve list. This site will provide opportunities for developers to initiate the development of more office and retail space if there is demand.
Supply of Hotel Rooms
The 1H2021 reserve list includes two sites at Marina View and River Valley Road, which are carried over from the 2H2020 reserve list, providing opportunities for developers to offer additional supply of hotel rooms if there is demand.
– Construction+ Online