The First Half of the 2017 Government Land Sales (GLS) Programme has been released recently. The list that has the Confirmed and Reserve List includes a commercial space that has a gross floor area of 158,080 square meters. It can also yield private residential units which can range up to 7,465 units. With the high number of prospective property-seekers that are looking for an excellent residence for the current year 2016, the demand is expected to be good for the upcoming year 2017.
The Confirmed List of the GLS Programme for the first half of 2017 is comprised of five sites. The sites will have private residential units that can range up to 2,330 units. This is much higher that the 2016 Second Half Confirmed List which has a supply of 2,170 units. Though a bit higher than the 2016 Second Half Confirmed List, the trigger and sale that comes from the Reserved List site resulted to 2,445 total units for the 2016 Second Half GLS Programme.
Singapore City Developments
The Reserve List is comprised of 10 sites which include 2 commercial sites, 1 mixed residential & commercial site and 7 private residential sites. These sites are said to yield a total of 5,135 private residential units which also include EC units ranging to 775 units. The commercial space has a gross floor are of 158,080 square meters which can be primarily used for office spaces.
Comparing the 2H2016 and 1H2017 GLS Promgramme, there is not much difference in terms if numbers. With an overall supply of 7,545 and 7,465 units respectively, the demand of supply is sure to be high for the upcoming year. To meet the new populations’ needs, The GLS Programme ensure that there will be steady supply of housing sites on the pipeline.
The 1H2017 GLS Programme includes sites that are situated on Woodlands Square and Beach Road that will house a mixed-use and private residential sites. The developers will assess the need of supply for commercial space.
