The Singapore government has rolled out a total of 6 sites for sale under the 2H 2017 Government Land Sales (GLS) programme, which will be expected yield an estimated 2,840 homes.
The projected supply of homes is just slightly higher than the 2,330 homes expected from the 1H 2017 GLS programme.
Some market watchers had been expecting a larger increase in terms of land supply, given the aggressiveness of bids being submitted by property developers lately and also the surge in the en bloc sales activity.
One of the noticeable sites is the 2.3-hectare mixed-use parcel at Holland Village, which the future new launch project could possibly yield 570 private homes in future and also a commercial space spanning across and built-up area of 145,000 square feet (sq ft).
Believed to be the most appealing site to property developers, the Holland Village site has been earmarked to become an extension of the existing Holland Village, and will be launched for public tender in Nov 2017.
Another notable plot would be at Handy Road, with a land area of around 0.52-hectare – which is within close proximity to Plaza Singapura and Dhoby Ghaut MRT Interchange Station.
It can yield around 130 private homes and will be launched for sale in Nov 2017 as well.
According to property analysts, it could possibly help to spur sales for the current launches in District 9, such as Sophia Hills and Martin Modern.
The third most prominent site under the 2H 2017 GLS Programme would be another mixed-use site next to Buangkok MRT Station, with a land area of 3.63 hectares.
The site can be used to yield around 700 private homes and a commercial space of 143,000 sq ft, and will be launched for sale via public tender in Dec 2017.
In addition, a total of 9 private home sites and 1 commercial site has been made available for sale in the Reserve List, with a projection to accommodate 5,285 private residential homes and around 611,282 square feet of commercial space (mainly for offices).
Among the sites under the Reserve List, 5 of the sites are situated namely in areas such as West Coast Vale, Canberra Drive, Cuscaden Road, Silat Avenue and also Matter Road.
It was noted that out of the 10 sites listed under on the 1H 2017 GLS Reserve list, the private residential site at Stirling Road has been already sold, via a top bid of more than S$1 billion received from Hong Kong’s Logan Property and Chinese property developer Nanshan Group.