First half 2017 GLS Programme to yield more Singapore property

December 19, 2016 Singapore

Confirmed List sites and Reserved List sites open up Singapore property market to more foreigners interested in Singapore real estate

First half 2017 GLS Programme to yield more Singapore property | Singapore Property | Yazhou Property
The Government today announced the first half 2017 (1H2017) Government Land Sales (GLS) Programme, which comprises five Confirmed List sites and ten Reserve List sites. These sites can yield up to 7,465 private residential units and 158,080 sqm gross floor area (GFA) of commercial space (see Appendix 1 & Appendix 2).

The Confirmed List comprises five private residential sites which can yield 2,330 private residential units. This is higher than the supply of 2,170 units from the 2H2016 Confirmed List.

The Reserve List comprises seven private residential sites [including one Executive Condominium (EC) site], one commercial & residential site and two commercial sites. These sites can yield 5,135 private residential units (including 775 EC units) and 158,080 sqm GFA of commercial space, mostly for office use.

Supply of Private Housing

The sites in the 1H2017 Confirmed List are distributed across Rest of Central Region and Outside Central Region, and in various planning areas.

The supply of 2,330 units from the Confirmed List is higher than the 2,170 units from the 2H2016 Confirmed List, but closer to the 2,445 units from the 2H2016 GLS Programme which resulted from the trigger and sale of a Reserve List site in December 2016.

The supply of 5,135 units from the Reserve List is similar to the 5,375 units from the 2H2016 Reserve List.

Overall, the total supply of 7,465 units from the 1H2017 GLS Programme is comparable to the supply of 7,545 units from the 2H2016 GLS Programme.

The demand for new housing from prospective home-buyers has remained healthy in 2016. The continued supply of residential sites through the GLS Programme will ensure that there is a steady pipeline of new private housing units to meet the needs of our resident population.

Supply of Commercial Space

The 1H2017 Reserve List includes two sites at Beach Road and Woodlands Square for mixed-use developments comprising mainly office space. These sites will allow developers to initiate the development of more office space if they assess there is demand.

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