The Ministry of National Development (MND) has announced the sites of the Land Sales Program in the upcoming first half of 2017 (1H2017) Confirmed List via a press release on Friday (16 Dec).
For 1H2017, the units supplied by the confirmed sites increased 7.3 percent than the second half of 2016.
Supply of Private Housing
The sites 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 7.3 percent higher than the 2,170 units from the 2H2016 Confirmed List, but closer to the 2,445 units from the 2H2016 GLS Program.
This increase is caused by the trigger and sale of a Reserve List in December 2016.
The supply of 5,135 units from the 2H2017 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 press release stated.
The Reserve List comprises:
- Seven private residential sites [including one Executive Condominium (EC) site],
- One commercial & residential site,
- Two commercial sites.
The sites comprise 5,135 reserve private residential units (including 775 EC units) and 158,080 sqm GFA of commercial space, mostly for office use.
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.
MND stated, the demand for new housing from prospective home-buyers has remained healthy in 2016.