Government to launch six sites under 2H2017 Confirmed List

By Feily Sofian,

Delicia Lim

/ The Edge Property |

June 29, 2017 12:08 PM SGT

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The Government will roll out six sites in 2H2017 for sale by tender that can generate 2,840 housing units. They will be launched under the Confirmed List for the 2H2017 Government Land Sales Programme.

The supply of 2,840 housing units is just slightly higher than the 2,330 units from 1H2017 Confirmed List. Some market watchers had expected a large bump in supply given the aggressive bids by developers of late and the pick up in collective sale activities.

"The absolute number of residential units on the confirmed list has in fact only increased marginally from H1 2017, reflecting the government’s measured approach to releasing land," says Desmond Sim, Head, CBRE Research, Singapore and South East Asia.

There are three notable sites in the 2H2017 Confirmed List. The first is a 2.3 ha site at Holland Village that can generate 570 housing units and around 145,000 sq ft of commercial space. The site, which is currently used as a carpark, has been earmarked for the new Holland Village extension. It is slated to be launched for tender in November 2017.

Ong Teck Hui, JLL's national director for Research & Consultancy believes the Holland Road site could potentially be the most appealing site to developers due to its close proximity to Holland Village and strong demand for homes in the area.

Another notable site is a 0.52 ha site at Handy Road, a stone’s throw away from Plaza Singapura. The site can yield an estimated 130 housing units and it is slated to be launched for tender in November 2017.

The third notable site is a 3.63 ha site next to Buangkok MRT station. The site can yield about 700 housing units and 143,000 sq ft of commercial space which appears to be a smallish suburban mall. It is slated to be launched for tender in December 2017.

There is only one executive condominium site to be launched for tender in 2H2017. The site is located along the Punggol Waterway near Sumang LRT station. It can yield about 825 housing units.

Separately, nine private residential sites and one commercial site will be made available in the Reserve List. These sites can yield 5,285 private residential units and 611,282 sq ft of commercial gross floor area, mostly for office use.

Among them are five new sites located at West Coast Vale, Cuscaden Road, Canberra Drive, Mattar Road and Silat Avenue.

The supply of 5,285 units from the Reserve List is close to the 5,135 units from the 1H2017 Reserve List. The sites under the Reserve List will only be launched for tender if developers successfully trigger them by committing to an acceptable minimum bid.

Of the 10 sites on the 1H2017 Reserve list, the residential site in Stirling Road has been sold. Located next to Queenstown MRT station, the site fetched a top bid of more than $1 billion from Hong Kong's Logan Property and Chinese developer Nanshan Group.

Meanwhile, Sumang Walk and Holland Road previously on the reserve list have been moved to the 2H2017 Confirmed List.