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Singapore to launch 23 sites for sale in 1H2014: MND

Posted by Property Launch Invest on Thursday, 19 December 2013 in Property News

Singapore will be releasing eight confirmed list sites and 15 reserve list sites under its first-half 2014 government land sales (GLS) programme.

The Ministry of National Development (MND) said on Wednesday that these sites can yield up to 11,600 private homes.

These include 2,800 executive condominium (EC) units and 193,000 sqm gross floor area (GFA) of commercial space.

"Supply from the GLS programme, together with the large supply from projects in the pipeline, is expected to be adequate to meet the demand for private housing and commercial space over the next few years," the ministry said.

The confirmed list contains seven private residential sites (including four EC sites) and one commercial and residential site. These sites can yield about 4,600 private homes (including 2,200 EC units) and 5,000 sqm GFA of commercial space.

This is in addition to the existing pipeline supply of about 97,400 private housing units (including ECs).

All the confirmed list sites in the 1H2014 GLS programme are located in the outside central region or rest of central region.

The reserve list contains 13 private residential sites (including one EC site), as well as two sites for commercial developments - a White site at Marina View and a commercial site at Sims Avenue. A White site is a land parcel sold by the State on which a range of uses is allowed.

"These two sites will provide opportunities for the market to initiate the development of more commercial space, over and above the 1.1 million sqm GFA of office space in the pipeline, if there is demand," MND said.

In all, these reserved list sites can yield about 7,000 private homes (including 600 EC units) and 188,000 sqm GFA of commercial space.

MND also added there is a "healthy" pipeline supply of 12,700 hotel rooms.

Meanwhile, the hotel site at Race Course Road, which has been launched for sale through the reserve list from May 2011, will be removed from the list to undergo a land use intention review.

Source: Business Times 18th December 2013

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PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

Singapore to launch 23 sites for sale in 1H2014: MND

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