As the second half of the year approaches, the Government Land Sales (GLS) Programme has launched its list of reserve and confirmed sites list. The announcement came from the Ministry of National Development which include 9 reserved sites and 3 confirmed sites.

It was estimated to yield a gross floor area (GFA) of 101,500 square meters of commercial space, 6,670 units of private residences and 1,070 rooms for hotel use.

For the confirmed site list, it is composed of 3 private residential sites which include an executive condominium site. Estimated to yield around 1,370 units of private residence, not to mention commercial space with 1,500 square meters in Gross Floor Area and as well as 615 units of executive condominium flats. This is lower than the first half of the GLS programme which offered 1,560 units.

The reserve list has nine confirmed sites. These encompassed of 5 private residential sites, which include an executive condominium site, 1 hotel site and 3 white sites. It is estimated to yield around 5,300 private residential units, not to mention commercial space of about 100,000 square meters in Gross Floor Area, 1,070 units of hotel rooms, and 590 executive condominium units in total.

Desmond Sim, CBRE’s Southeast Asia head of research said that despite the pandemic, GLS 2020 H2 measured supply is not surprising. He added that the list of Confirmed List cites larger location options but with lower units. He also mentioned that if developers are not satisfied with the available confirmed list sites, they can opt to order from the Reserve sites list.

All confirmed list sites are new, including the executive condominium site located on Tengah Garden Walk. Other residential sites located on Ang Mo Kio Ave 1 and Northumberland Road may have developer options for mature housing developments.

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Meanwhile, 4 of the residential sites on the reserve list were carried over from the first half of GLS 2020. Also, on the list are new sites at Lentor Central with a few commercial spaces.

The sites located at Kampong Bugis and Woodlands Ave 2 are white sites carried over from the first half of the Reserve List 2020 including the sites at River Valley Road and Marina View, which will then provide developers with additional opportunities for demand on room supply if they opt to.

The second half of the Government Land Sales Programme offers not only great sites but also undeniably in demand locations for developers. Despite the effects of the pandemic, the real estate industry is still kicking in.