GLS : release of 8 confirmed sites , 15 reserve list

[princess_morbucks]

The Business Times ‏@BTBreakingnews (https://twitter.com/BTBreakingnews) 4m (https://twitter.com/BTBreakingnews/status/413119165667360768) #Singapore (https://twitter.com/search?q=%23Singapore&src=hash) to release 8 confirmed list, 15 reserve list sites under its 1H2014 GLS prgm, can yield 11,600 private homes #MND (https://twitter.com/search?q=%23MND&src=hash) #propoerty (https://twitter.com/search?q=%23propoerty&src=hash)

[princess_morbucks]

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.

http://www.businesstimes.com.sg/breaking-news/singapore/singapore-launch-23-sites-sale-1h2014-mnd-20131218

[princess_morbucks]

http://www.todayonline.com/singapore/23-land-sites-released-sale-government

SINGAPORE — The Government today (Dec 18) announced the launch of eight confirmed list and 15 reserve list sites under the first half 2014 (1H2014) Government Land Sales (GLS) Programme.
In a release, the Ministry of National Development said that these sites can collectively yield up to 11,600 private residential units — including 2,800 Executive Condominium (EC) units — and 193,000 sq m gross floor area of commercial space.



The confirmed list comprises seven private residential sites (including 4 EC sites) and a commercial-and-residential site. These sites can yield about 4,600 private residential units (including 2,200 EC units) and 5,000 sqm gross floor area of commercial space.


The reserve list is comprised of 13 private residential sites (including an EC site), a commercial site and a White site. These sites can yield about 7,000 private residential units (including 600 EC units) and 188,000 sqm gross floor area of commercial space.


Confirmed list sites go on sale regardless of interest from developers, while reserve list sites are triggered for a public tender only if a developer makes an acceptable opening offer.

The MND said that 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.


RESIDENTIAL SITES


The residential sites to be placed on the 1H2014 confirmed list are located in Outside Central Region or Rest of Central Region.

Two pairs of confirmed List sites at Yishun Street 51 and Fernvale Road, which are for EC and private residential developments respectively, are located close to each other and are of similar size.


The tenders for these two pairs of sites will be batched to encourage more prudent bidding by developers in the 1H2014 GLS Programme.



COMMERCIAL SITES


Two sites earmarked for commercial development are listed in the 1H2014 reserve list, including a white site at Marina View and a commercial site at Sims Avenue. These two sites will provide opportunities for the market to initiate the development of more commercial space, over and above the 1.1 mil sq m gross floor area of office space in the pipeline, if there is demand, the MND said.

Meanwhile, a hotel site on Race Course Road that was made available for sale through the reserve list from May 2011 will be removed from the list to facilitate a review of the land use intention for the site.

A riot broke out at the junction of Race Course Road and Hampshire Lane in Little India on Dec 8. The Government looks set to extend a ban on alcohol in public areas in Little India, among other measures expected to be announced today in the aftermath of the riot, the first seen in Singapore in over four decades.


OTHER SITES


Apart from the GLS Programme, the Government will also make available other supply of land and properties through its various agencies to meet economic or development objectives.

This includes localised retail facilities at parks, selected HDB estates, industrial estates, MRT stations, sport facilities, community centres, and the leasing of vacant state properties for commercial uses, the MND said.

[princess_morbucks]

http://www.ura.gov.sg/pr/text/pr95-15.html

"White" sites

The concept of "white" sites is introduced to give developers more flexibility in development options on certain land parcels sold by the State.
"White" sites are sites in which a range of uses are allowed. Developers will also have the flexibility to decide on the mix of uses and respective quantum of floor space for each use, as long as the total permissable Gross Floor Area (GFA) for the whole development is not exceeded.
Successful tenderers of "white" sites may, during the lease period, change the mix of use or quantum of each use as stipulated in the conditions of tender without the need to pay differential premium.
For example, a successful tenderer may decide to have less retail space in a "white" site development. He could, however, in future decide to convert some other uses to retail space should the demand arises, without the need to pay differential premium.
Hence, "white" sites allow developers to respond to changing market conditions without incurring additional land premium. Developers will also enjoy greater transparency and certainty as the range of allowable uses or mix of use for each sale site is made known at the onset.

[princess_morbucks]

http://www.straitstimes.com/breaking-news/money/story/fewer-government-land-sites-sale-the-first-half-2014-20131218

While no one knows when the US Federal Reserve will start dialing down its bond-buying programme, the tapering off has begun for Singapore's residential land supply.
The Ministry of National Development (MND) said on Wednesday it will sell land in the first half of next year that can yield 11,600 homes.
This is 18 per cent lower than the 14,155 units that had been earmarked for the second half of this year.
The upcoming supply is also significantly lower than the 14,035 units planned for the first half of this year.

[CCR]

So basically there will only be 2400 units of private Condo in the confirmed list.... that is some serious tapering which will support the property market

[princess_morbucks]

So basically there will only be 2400 units of private Condo in the confirmed list.... that is some serious tapering which will support the property market

Yup, confirmed have 2400 pte homes.

But if some gungho developer decides to put a trigger price to the reserve sites, then there will be more.

[star]

Only one mixed development site.

[CCR]

If the Developer trigger then it's a different case, they will be confident of selling that's why trigger..... so it's ok....

So from 15k a year to now appx 5 per year.... that's a lot of tapering

[Ringo33]

Its actually a good that URA is slowing down the release of PC site, and this should help soak up the excess supply in 2016/7.

On the commercial site, the outlook forward seems too rosy, not sure its government is anticipating a slowdown.

[Lovelle]

a lot of sites at redhill and queenstown

[bargain hunter]

they are also determined to sell the prince charles site beside the yet to be launched "The Crest", putting it on the confirmed list.


a lot of sites at redhill and queenstown

[Lovelle]

they are also determined to sell the prince charles site beside the yet to be launched "The Crest", putting it on the confirmed list.

cramping that area, soon i foresee all the car dealers may be asked to move out of that area.

[princess_morbucks]

http://www.businesstimes.com.sg/premium/top-stories/govt-cuts-land-sales-under-weight-supply-20131219

[SINGAPORE] The 4,630 private homes that can be generated from the confirmed list sites slated for launch by the government in H1 next year is not only down 22.3 per cent from the current H2 2013 slate but is also the lowest half-yearly quantum since H1 2010, when the figure was 2,925 units.
Across the board, the Ministry of National Development (MND) is scaling back the Government Land Sales (GLS) Programme for private housing, commercial and hotel sites for the first six months of 2014 to factor in the large supply pipeline. The move is seen as an attempt to engineer a soft landing.


For H1 2014, MND will be launching through the confirmed list eight sites that can generate a total of 4,630 private homes (including 2,165 executive condominiums) against 5,960 units (including 2,785 ECs) in the current slate. In all, there will be seven pure residential sites on the confirmed list in the first half next year, down from 10 currently.


MND noted the confirmed list supply will be "added to the existing large pipeline supply of about 97,400 private housing units (including ECs)".
Supply on the reserve list will also be trimmed 15.1 per cent to 6,955 units (including 605 ECs) in H1 next year from 8,195 units (inclusive of 535 ECs).


"The government is indirectly acquiescing to the fact that if they continue the previous torrid pace of supply for housing, the market will swing from deficit to glut for completed housing stock come 2017," observed Savills Singapore research head Alan Cheong.


DTZ's head of Singapore research, Lee Lay Keng, noted that transaction volume in the private residential market has fallen significantly since the total debt servicing ratio framework took effect in late-June.


SLP International executive director Nicholas Mak said the four EC sites in the confirmed list outnumber the three private condo sites, which is unprecedented. Tan Tiong Cheng, chairman of Knight Frank, said the "government probably thinks that bids for EC sites have been too aggressive lately". This, along with an expected drop in EC demand arising from the recently introduced 30 per cent mortgage servicing ratio cap for EC buyers, should help to moderate prices, he added.


For commercial space, the combined confirmed and reserve list supply of 193,340 sq metres (2.08 million sq ft) gross floor area (GFA) for H1 2014 reflects a big drop from 268,050 sq m under the current slate. It is also the lowest since H1 2006, when the total supply was at 125,505 sq m.


Savills' Mr Cheong said: "They are holding back supply of new office sites because come 2016-2017, a massive spike in supply from Marina Bay and Tanjong Pagar/Cecil Street is expected."


MND said two reserve-list sites - a white site in Marina View and a commercial land parcel in Sims Avenue - will "provide opportunities for the market to initiate the development of more commercial space, over and above the 1.1 million sq m GFA of office space in the pipeline, if there is demand".


No hotel site will be available via the GLS Programme in the next half-year for the first time since the reserve list system was minted in H2 2001. MND pointed to "a healthy pipeline supply of 12,700 hotel rooms".


Nonetheless, a spokesperson for the Urban Redevelopment Authority (URA) highlighted that developers may choose to develop some hotel rooms for the Sims Avenue commercial site and Marina View white site, after setting aside the minimum quantum of space that has to be developed for other uses (for example, offices). The current slate has three hotel sites, all on the reserve list. Two have been triggered for launch - at Havelock Road and East Coast Road. The third plot, at Race Course Road, will be removed from the reserve list to "facilitate a review of the land use intention" for the site.


Summing up its strategy, the Ministry said: "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."


In all, seven new sites have been introduced for the next half, five of them through the confirmed list. These comprise two adjacent EC sites in Yishun St 51 near the Orchid Country Club Golf Course with tender closings at the same time under the "batched tender" system, and another pair of adjoining sites for private housing development along Fernvale Road near Jalan Kayu, also with simultaneous tender closing, plus an EC site in Sembawang Avenue.
The two new sites on the reserve list are a private housing site in Margaret Drive and an EC site in Sembawang Road/Canberra Link.
Most of the new sites are not "super hot", as SLP's Mr Mak put it. Industry players have been urging the authorities to head in this direction to put a lid on rising land prices. "If you put up prime sites when developers are hungry for land, you'll see bullish bids," said Chia Siew Chuin, director of research and advisory at Colliers International. She noted that the sites that have been carried over from the H2 2013 GLS Programme are more attractive than the new sites.


While market watchers agreed with the government's strategy of clipping land sales to avoid a glut building up, the soft-launching plan could go awry.

"One scenario is that with fewer sites on offer, if new entrants continue to bid, they may pit themselves against local players who will also need to replenish landbanks to continue their business. This heightened competition could start driving up land bids again, which could portend further hikes in private home prices," suggested Colliers' Ms Chia.

[4wheels]

http://www.todayonline.com/singapore/23-land-sites-released-sale-government


The residential sites to be placed on the 1H2014 confirmed list are located in Outside Central Region or Rest of Central Region.

Two pairs of confirmed List sites at Yishun Street 51 and Fernvale Road, which are for EC and private residential developments respectively, are located close to each other and are of similar size.




Anyone know the where are sites at Fernvale Road? I could not locate the information from HDB or URA website. Thanks.

[NorthernStar]

Anyone know the where are sites at Fernvale Road? I could not locate the information from HDB or URA website. Thanks.

http://www.ura.gov.sg/uol/media-room/news/2013/dec/pr13-87a.aspx

[smellyfish]

the reserve list has a number of delicious sites

[4wheels]

http://www.ura.gov.sg/uol/media-room/news/2013/dec/pr13-87a.aspx

thanks you!