Singapore Government made an announcement on the2nd half 2014 (2H2014) Government Land sale (GLS) Programme. Under the GLS list are 9 Confirmed List sites and 14 Reserve List sites which can boast up to 10,200 private home including 1,500 Executive Condominium (EC) and 352,000 sqm gross floor area (GFA) of commercial space.
The private residential and commercial space demand will be met for the next few years from the second half 2014 GLS Programme and the huge supply from projects in the pipeline.
The nine confirmed GLS List consisted of three private residential sites, three Executive Condominium sites, one commercial site and two mixed commercial & residential sites. These sites are spread across all area such as the OCR, RCR and CCR. We are expecting about 3,900 private home including 1,500 EC units and commercial space of 159,000 sqm GFA to be added to the existing supply of 90,000 private residential units including the ECs.
For the Reserve List, there’s a total of twelve private residential sites, one white site and one commercial site which will boast an estimation of 6,300 private residential units and 193,000 sqm Gross Floor Area (GFA) of commercial space.
Under the Holland Village Extension plan in the URA Master Plan 2014, a commercial and residential mix site at Holland road site will be come under the confirmed list.
On top of that, the 2H2014 Reserve List will have two sites for office developments. They are marina View white Site and Beach road Commercial site. Opportunities for more office space can be built if there is demand.