The source of private housing components in the Confirmed List websites under the Government Land Sales (GLS) Programme for the next half of 2020 has been decreased to take into consideration the uncertain business perspective and financial downturn caused by this COVID-19 pandemic.
This time, there’ll be three Confirmed List websites as well as nine Reserve List websites. In total, the websites could yield approximately 6,670 private residential components, 101,500 sqm gross floor area (GFA) of commercial area and 1,070 resort rooms.
“But we must calibrate the decrease carefully to prevent potential supply shortfalls within the moderate to longer-term,” said the ministry.
“Hence, we’ve maintained a fantastic choice of websites with additional supply from the Reserve List which developers can start for growth if they assess that there’s demand.”
MND revealed the 3 private residential websites below the Confirmed List may yield approximately 1,370 personal homes, such as one executive condo (EC) website at Tengah Garden Walk which may yield 615 units.
Meanwhile, of those eight sites on the Reserve List, five are personal residential sites, which comprises one EC website. Adding the 590 EC components, the overall houses the websites can yield is about 5,300 personal homes.
“Overall, the measured distribution from the 2H 2020 GLS Programme isn’t surprising against the background of this COVID-19 pandemic,” said Sim.
“This really is a degustation menu since the Confirmed List gifts bookmarking websites with smaller components but with increased variety concerning location. If any developers’ desire for property become unsatiated, they could still purchase from the Reserve List,” he added.
MND noted the Confirmed List websites will soon be found in Q4 2020. Every website will have a more tender span of six weeks to supply developers”longer to earn their evaluation in light of the continuing COVID-19 situation”.