Government direction in Land Supply
Government reduced the government land sales announced in Dec 2018.
24 June 2020:
The reduction continues til 2020.
SINGAPORE – The supply of private residential housing from confirmed sites under the government land sales (GLS) programme for the second half of 2020 has been reduced to take into account the fallout from the global Covid-19 situation, the Ministry of National Development (MND) announced on Wednesday morning (June 24).
The private home supply of 1,370 units from three confirmed list sites is 405 units or nearly 23 per cent less than the 1,775 units from such sites under the first half of 2020 GLS programme.
It is also the lowest number since the second half of 2009 during the global financial crisis when no confirmed list sites were released, said Christine Li, Cushman & Wakefield head of research for Singapore and Southeast Asia
The confirmed list includes one executive condominium (EC) site that can yield 615 units.
Together with eight reserve list sites that can accommodate another 5,300 residential units, the total potential supply of private housing for the second half of this year comes to 6,670 units, slightly more than the 6,490 units under the GLS programme for the first half-year.
One hotel site at River Valley Road, which can yield 530 hotel rooms, has been carried over from the first half-year GLS programme and rounds up the reserve list.