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Thread: Release of first half 2015 Government Land Sales (GLS) Programme

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    Default Release of first half 2015 Government Land Sales (GLS) Programme

    The Government today announced the first half 2015 (1H2015) GLS Programme, which will comprise 6 Confirmed List sites and 13 Reserve List sites. These sites can yield up to 8,770 private residential units, including 1,010 Executive Condominium (EC) units and 265,000 sqm gross floor area (GFA) of commercial space (see Appendices 1 & 2 [PDF, 12kb])

    The Confirmed List contains 6 private residential sites (including 1 EC site) which can yield about 3,020 private residential units (including 490 EC units).

    The Reserve List contains 9 private residential sites (including 1 EC site), 1 commercial & residential site, 2 commercial sites and 1 White site. These sites can yield about 5,750 private residential units and 265,000 sqm GFA of commercial space.

    Supply from the GLS Programme, together with supply from projects in the pipeline, will be adequate to meet the demand for private housing and commercial space over the next few years.

    Supply of Private Housing
    The residential sites on the 1H2015 Confirmed List are located in Outside Central Region and Rest of Central Region.

    The commercial & residential site at Holland Road, originally placed on the 2H2014 Confirmed List, is the first sale site to be launched as part of the Holland Village Extension plan unveiled in the Master Plan 2014. A Concept and Price Revenue Tender will be adopted for this site. This is to ensure that the site’s future development enhances the unique charm and distinctive urban village character of the Holland Village Identity Node. The site is transferred from the Confirmed List to the Reserve List to give developers more time to study the site and tender evaluation criteria before triggering it for sale.

    Supply of Commercial Space
    The Government is releasing a second commercial site in Woodlands Regional Centre at Woodlands Square for sale via the Reserve List of the 1H2015 GLS Programme. This will sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of decentralising employment centres to bring job opportunities closer to homes.

    The 1H2015 Reserve List will have 2 other sites for predominantly office developments. The White site at Marina View and commercial site at Beach Road will be carried over from the 2H2014 Reserve List. Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand.

    Other Government Supply to be Made Available in 1H2015
    Apart from the GLS Programme, the Government will also make available other supply of land and properties through its various agencies to meet economic or development objectives. These include localised retail facilities at parks, selected HDB estates, industrial estates, MRT stations, sport facilities, community centres and the leasing of vacant state properties for commercial uses.

    [url]http://www.ura.gov.sg/uol/media-room/news/2014/dec/pr14-74a.aspx[/url]
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    Cutting down on supply is good news.

    THE government will offer land for about 3,020 private residential units (including 490 executive condominium units) through the confirmed list for the first half 2015 Government Land Sales (GLS) Programme.

    This is lower than the 3,915 private residential units (including 1,520 EC units) through the confirmed list of the current second half 2014 GLS programme.

    The Ministry of National Development will not be offering any land for commercial space or any hotel sites in the H1 2015 confirmed list.

    Sites on the confirmed list are launched for tender according to schedule, regardless of demand.

    On the reserve list, where sites are launched only upon successful application by a developer, MND will offer land for 5,745 private homes (including 520 EC units) and 265,130 sq m gross floor area of commercial space in H1 2015. This compares with supply of 6,305 private homes and 193,280 sq m commercial space in the H2 2014 reserve list.

    No hotel sites will be offered on the next half reserve list.
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    Quote Originally Posted by Ringo33 View Post
    Cutting down on supply is good news.
    Is there anyway to find out the reserve prices that have been set for those reserve plots mentioned here on a psf basis.......both residential and commercial quotes would be helpful.

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    Quote Originally Posted by rook View Post
    Is there anyway to find out the reserve prices that have been set for those reserve plots mentioned here on a psf basis.......both residential and commercial quotes would be helpful.

    Reserved price is actually quite irrelevant because when the site is trigger by a single bid, it will be put for public tender. The Holland V site will be interesting.
    "[I]Never argue with an idiot, or he will drag you down to his level and beat you with experience[/I]."

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    I think the Dundee Road plot will prompt CDL to defend its Coomonwealth Towers pricing.

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    Quote Originally Posted by Khng8 View Post
    I think the Dundee Road plot will prompt CDL to defend its Coomonwealth Towers pricing.
    This is a tough call because new project in that area is really not moving and the depressing resale market for CCR is not helping either.
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    Quote Originally Posted by Ringo33 View Post
    Reserved price is actually quite irrelevant because when the site is trigger by a single bid, it will be put for public tender. The Holland V site will be interesting.
    The full implication is that if reserve price not met, the site will not be released. Suka suka move to reserve site is very ungentlemanly. Confirmed sites were supposed to be a cooling measure in itself.

    It's very clear to me how much the Govt has everything under its control, even if it is not admitted.
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    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by Kelonguni View Post
    The full implication is that if reserve price not met, the site will not be released. Suka suka move to reserve site is very ungentlemanly. Confirmed sites were supposed to be a cooling measure in itself.
    As I said before, what the government DO is more important than what they say. By cutting down on supply, they are indirectly helping to soak up the over supply for next few years. So if economies recovers in say 2016/7 we could possibly see a shortage of supply come 2018/9.
    "[I]Never argue with an idiot, or he will drag you down to his level and beat you with experience[/I]."

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    Shortage in CCR supply only

    0 CCR unit in 13H2, 14H1, 15H1 GLS
    5xx CCR units in 14H2 GLS

    So 15-20k of GLS units from 13H2 to 15H1, only 5xx new units in CCR come 2018/2019



    Quote Originally Posted by Ringo33 View Post
    As I said before, what the government DO is more important than what they say. By cutting down on supply, they are indirectly helping to soak up the over supply for next few years. So if economies recovers in say 2016/7 we could possibly see a shortage of supply come 2018/9.

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    Quote Originally Posted by k00L View Post
    Shortage in CCR supply only

    0 CCR unit in 13H2, 14H1, 15H1 GLS
    5xx CCR units in 14H2 GLS

    So 15-20k of GLS units from 13H2 to 15H1, only 5xx new units in CCR come 2018/2019
    Most CCR supply are FH, and they dont come from URA. There are many projects which has or near TOP but yet to launch, and they are also several CCR LH supply that has yet to launch yet.
    "[I]Never argue with an idiot, or he will drag you down to his level and beat you with experience[/I]."

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