THE government will release land for 7,545 private homes (including 780 executive condo (EC) units) as well as 277,080 sq metres gross floor area (GFA) of commercial space on both confirmed and reserve lists in the second half of this year. This is just slightly more than the 7,415 private housing units (inclusive of 1,455 EC units) and 272,580 sq m of commercial space for the current first half Government Land Sales (GLS) Programme.
Ministry of National Development (MND) said on Wednesday that through the confirmed list, where sites are launched according to schedule regardless of demand, it will release land for 2,170 private residential units (there will be no EC supply) and 15,500 sq m GFA of commercial space in the H2 2016 GLS Programme. Upcoming executive condo include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Visionaire EC, Parc Life EC , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, Bellewaters EC, Bellewoods EC.
While this is higher than the 1,560 private housing units (including 635 EC units) on the confirmed list of the H1 2016 GLS Programme, MND said that the H2 confirmed list supply is close to the total supply of 2,130 units from the first half programme which resulted from the trigger and sale of a reserve list site in February 2016.
Reserve-list sites are launched only upon successful application by a developer or when there is sufficient market interest in a site.
The 15,500 sq m GFA of commercial space on the second half confirmed list is mainly from a predominantly residential site at Upper Serangoon Road, and will provide retail amenities for the future live-in population at the Bidadari HDB estate.
On the reserve list, MND will offer land for 5,375 private homes (including 780 EC units) as well as 261,580 sq m commercial GFA for H2 2016. This is compared with 5,855 private homes (inclusive of 820 EC units) and 261,580 sq m of commercial space on the H1 reserve list. “The H2 2016 reserve list includes three sites at Beach Road, Woodlands Square and Central Boulevard for mixed-use developments comprising mainly office space. These sites will allow developers to initiate the development of more office space if they assess that there is demand,” MND said.