Urban Redevelopment Authority (URA) has announced the first half 2017 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.
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 second hald of 2016 Confirmed List, which comprised 15 sites, of which 4 are on the Confirmed List and 11 are on the Reserve List.
The Reserve List comprises seven private residential sites, including one Executive Condominium (EC) site, one commercial and residential site, and two commercial sites.
URA noted that 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.
According to URA, the sites in the first half of 2017 Confirmed List are distributed across Rest of Central Region and Outside Central Region, and in various planning areas.
URA stated that the supply of 2,330 units from the Confirmed List is higher than the 2,170 units from the second half of 2016 Confirmed List, but closer to the 2,445 units from the second half of 2016 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 second half of 2016 Reserve List.
Overall, it said that the total supply of 7,465 units from the first half of 2017 GLS Programme is comparable to the supply of 7,545 units from the second half of 2016 GLS Programme.
“The demand for new housing from prospective home-buyers has remained healthy in 2016,” URA said.
“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,” it added.