H2 government land sales programme to have more private housing supply, first sale site in Marina South
Jun 07, 2022
THE government land sales (GLS) programme for the second half of 2022 will continue to have a larger supply of private housing, amid a resilient demand and declining inventory.
The programme comprises 6 confirmed list sites and 8 reserve list sites, which are expected to yield around 7,310 private residential units, 94,750 square metres (sq m) gross floor area (GFA) of commercial space, and 530 hotel rooms, the Ministry of National Development (MND) said on Tuesday (Jun 7).
Amid a consistently strong demand for private housing, MND is increasing the supply of private housing on the confirmed list to 3,505 units in H2, from 2,785 units in H1, to ensure sufficient supply and to maintain market stability.
MND also expects the supply on the reserve list will give developers a good selection of sites to initiate for development if they assess that there is demand. Sites on the reserve list are launched only upon successful application by a developer or when there is sufficient market interest.
On the confirmed list, there are 5 private residential sites, including 1 executive condominium (EC) site, and 1 commercial and residential site. This would yield around 3,505 private residential units (including 495 EC units) and 14,750 sq m GFA of commercial space.
The reserve list comprises 6 private residential sites, including 2 EC sites, 1 white site and 1 hotel site on River Valley Road, which can yield an additional 3,805 private residential units (including 1,000 EC units), 80,000 sq m GFA of commercial space and 530 hotel rooms.
Among the sites announced, a residential site on Marina Gardens Lane is a new site introduced in the half-year period, located in the Marina South precinct that is situated next to Gardens by the Bay.
The Marina South precinct, which was unveiled by the Urban Redevelopment Authority in the Draft Master Plan 2013, will be a self-sufficient neighbourhood comprising a mix of retail, office, hotel and residential uses, and is envisioned to be a sustainable and car-lite precinct.
MND expects the launch of the first sale site at Marina Gardens Lane will kick-start the development of the Marina South neighbourhood.
Meanwhile, the white site – on Woodlands Avenue 2 for a mixed-use development – as well as the hotel site on the H2 reserve list are carried over from the H1 reserve list.
https://www.businesstimes.com.sg/rea...irst-sale-site
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