The Ministry of National Development (MND) will release sites on the confirmed list that can yield about 4,090 private homes (including 700 executive condos or EC units). ECs are a public-private housing hybrid.
This is 16.7 per cent higher than the supply of 3,505 private homes (including 495 EC units) in the current, second half 2022 Government Land Sales (GLS) programme. The latest figure is also the highest level since the 4,630 units in the H1 2014 confirmed list. Sites on the GLS programme’s confirmed list are launched for sale according to schedule, regardless of demand.
The government will also kick-start the next phase of development in Jurong Lake District by releasing, via the H1 2023 confirmed list, a 6.8-hectare white site in the precinct for sale to a master developer. This comprises three plots of land linking the Jurong East MRT interchange station and the future Jurong Lake District station of the Cross Island Line.
The mega development can be built up to a total gross floor area (GFA) of 375,000 square metres (sq m), including offices, private homes and complementary purposes such as retail, hotel or community uses. The project will be built progressively over the next five to 10 years.
However, as part of the first phase of the development, the successful bidder will be required to build at least 70,000 sq m GFA of office space and 600 private housing units – though it will have some flexibility to phase out the remaining supply according to market demand.
Inclusive of this project, the confirmed list for the next half is estimated to generate 106,400 sq m of commercial space, up from 14,750 sq m in H2 2022.
The Site At Jurong East
The reserve list is where sites are launched only upon successful application by a developer or when there is sufficient market interest. On this list, MND will release land for 3,625 private homes (including 855 EC units) in H1 2023, slightly lower than the supply of 3,805 private housing units (including 1,000 EC units) in the H2 2022 GLS programme.
The reserve list of the H1 2023 GLS programme will also offer a supply of 93,350 sq m GFA of commercial space and 530 hotel rooms. This compares with a supply of 80,000 sq m of commercial space and 530 hotel rooms in the H2 2022 GLS programme.
The reserve list also includes a plot next to Punggol MRT station to be sold on 30-year lease tenure which can potentially yield about 8,400 sq m of office space. This is part of the government’s efforts to support decentralization and cater to the demand for workspaces near homes.
The increased confirmed list supply for H1 2023 will add to the existing pipeline supply to meet the housing needs of the population. It will bring the total pipeline supply of private housing (including ECs) to about 65,000 units, comprising 55,100 units with planning approval and 9,900 units from GLS sites and awarded en-bloc sale sites that have not been granted planning approval yet. Of these, about 33,600 units will be completed in the next two years, significantly higher than the 11,500 units completed since 2021.
Supply of residential units SEVEN new sites will be offered under the confirmed list for private residential housing in the first half of 2023 – five residential sites and two white sites.
The white site at Marina Gardens Crescent can yield about 775 private homes and 6,000 square metres (sq m) gross floor area (GFA) of commercial space. It is located at the city fringe, or within the Rest of the Central Region. The Marina South area plot, which spans 1.73 hectares is expected to launch in June 2023. It is much larger than the adjacent site at Marina Gardens Lane, which was recently released for tender under the H2 2022 GLS programme. The response to the site, whose tender will close on Jun 27, 2023, will guide developers in their bid for the Marina Gardens Crescent site.
The white site at Jurong Lake District (600 units) is also expected to be launched in June 2023. The other five residential sites are located at Jalan Tembusu (840 units), Lentor Central (475 units), Champions Way (345 units), Media Circle (355 units) and Tampines Street 62 (EC site – 700 units).