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2H2019 GLS to yield 6,430 private residential units

by • June 6, 2019 • Property Market NewsComments (0)418

2H2019 GLS to yield 6,430 private residential units, 92,000 sqm gross floor area (GFA) of commercial space and 1,100 hotel rooms

The Government today (June 6) announced the second half 2019 (2H2019) Government Land Sales (GLS) Programme, which comprises five Confirmed List sites and eight Reserve List sites. These sites can yield about 6,430 private residential units, 92,000 sqm gross floor area (GFA) of commercial space and 1,100 hotel rooms.

The first half of 2019 (1H2019) GLS Programme comprised 14 sites, of which five are on the Confirmed List and nine are on the Reserve List. The Ministry of National Development (MND) said that to date, four sites on the Confirmed List have been launched for tender and the remaining site at one-north Gateway will be launched for tender in Jun 2019. The tenders for these sites will close progressively from Jul to Sep 2019.

MND added that the Reserve List site at Sims Avenue has been removed from 1H2019 Reserve List to facilitate a review of development plans in the area. The Reserve List site at Canberra Drive will be re-parcelled into two smaller parcels for design variety in a low rise residential estate.

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As a result, a total of seven residential sites and two White sites remain on the 1H2019 Reserve List, and will be carried over to the second half 2019 (2H2019) GLS Programme. This includes the Canberra Drive site which will be re-parcelled into two smaller sites.

The five Confirmed List sites in 2H2019 GLS are private residential sites [including one Executive Condominium (EC) site] which can yield about 1,715 private residential units (including 480 EC units).

The Reserve List comprises four private residential sites (including one EC site), three White sites and one hotel site. These sites can yield about 4,715 private residential units (including 595 EC units and an estimated 1,000 units from the first phase of the Kampong Bugis site), 92,000 sqm GFA of commercial space and 1,100 hotel rooms.

Supply of Private Housing

The Ministry of National Development (MND) in announcing the 2H2019 GLS, said that there is a large supply of around 44,000 private housing units in the pipeline. This comprises around 39,000 unsold units from GLS and en-bloc sale sites with planning approval, and an additional 5,000 units from sites that are pending planning approval. These are from awarded GLS and en-bloc sale sites, as well as Confirmed List GLS sites that have not been awarded yet, as at 1Q2019. It noted that in addition, there are around 24,000 existing private housing units that remain vacant.

In contrast, demand has continued to fall since the introduction of the property market cooling measures in July 2018. Overall transaction volume declined for the third straight quarter in 1Q2019, while developers’ demand for land has also moderated.

Given these factors, the Government has decided to reduce the supply of private residential units on the Confirmed List for the GLS Programme. 2,025 private residential units were made available via the Confirmed List of the 1H2019 GLS Programme.

Together with the supply in the pipeline, the supply for the 2H2019 GLS Programme will sufficiently cater to the housing needs of our population, said MND.

The Government said that it will continue to monitor the property market closely and adjust the supply from future GLS Programmes, as necessary.

2H2019 GLS

Image credit: URA

Master Developer Approach for Kampong Bugis Site

URA first unveiled the plans for the White site at Kampong Bugis in the 2017 exhibition titled “Our Neighbourhoods: A Look into the Future” to seek feedback from the community. With a sizeable land area, the Kampong Bugis site is strategically located at the mouth of Kallang River with 1.1 km of water frontage.

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Envisioned to be an attractive waterfront residential precinct that is car-lite, community-centric and sustainable, the site will be released under the 2H2019 Reserve List for sale to a Master Developer. The intention is for a single developer to comprehensively master plan the site, and implement district-wide urban solutions (e.g. district-wide pneumatic waste conveyance system and a storm water treatment and water management system) for a smarter, greener and more sustainable housing typology.

With a potential yield of 4,000 private residential units and an additional 50,000 sqm for complementary uses such as retail, offices, community uses, serviced apartments and sports and recreational facilities, the entire Kampong Bugis precinct is estimated to be completed over 9 to 11 years.

Supply of Commercial Space

Other than the White site at Kampong Bugis, the 2H2019 GLS Reserve List will have another White site at Woodlands Avenue 2 for a mixed-use development.

MND said that this will help to sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of bringing job opportunities closer to homes.

Supply of Hotel Rooms

A new hotel site at River Valley Road will be added to the 2H2019 GLS Reserve List. The future hotel development will be integrated with the Fort Canning MRT station, and is located within close walking distance to Clarke Quay and Fort Canning Park. Together with the existing White site at Marina View, which has been carried over from the 1H2019 GLS Programme, the Ministry said that they will provide ample opportunities for developers to initiate additional supply of hotel rooms over and above the current pipeline supply.

PROPOSED RESIDENTIAL, COMMERCIAL AND HOTEL SITES FOR 2H2019 GLS PROGRAMME

S/N Location Site Area (ha) Proposed GPR Estimated No. of DUs (1) Estimated No. of Hotel Rooms Estimated Commercial Space (m2) Estimated Launch Date Sales Agent
Confirmed List
Residential Sites
1 Bartley Road / Jalan Bunga Rampai (2) 0.47 2.1 115 0 0 Aug-19 URA
2 Irwell Bank Road (3) 1.27 2.8 445 0 0 Oct-19 URA
3 Canberra Drive (Parcel A) 1.33 1.4 220 0 0 Nov-19 URA
4 Canberra Drive (Parcel B) 2.77 1.4 455 0 0 Nov-19 URA
5 Fernvale Lane (EC) 1.72 2.8 480 0 0 Dec-19 HDB
Total (Confirmed List) 1,715 0 0

 

S/N Location Site Area (ha) Proposed GPR Estimated No. of DUs (1) Estimated No. of Hotel Rooms Estimated Commercial Space (m2) Estimated Available Date (7) Sales Agent
Reserve List
Residential Sites
1 Dairy Farm Walk 1.57 2.1 390 0 0 Available URA
2 Dunman Road 2.52 3.5 1,040 0 0 Jun-19 URA
3 Hillview Rise 1.04 2.8 345 0 0 Jun-19 URA
4 Tampines Street 62 (EC) (3) 2.38 2.5 595 0 0 Dec-19 HDB
White Sites
5 Marina View (4) 0.78 13.0 905 540 2,000 Available URA
6 Woodlands Avenue 2 (5) 2.75 4.2 440 0 78,000 Available URA
7 Kampong Bugis (3)(6) 9.20 1,000 0 10,000 Dec-19 URA
Hotel Sites
8 River Valley Road (3)(4) 1.07 2.8 0 560 2,000 Dec-19 URA
Total (Reserve List) 4,715 1,100 92,000
Total (Confirmed List and Reserve List) 6,430 1,100 92,000

 

(1) The estimated number of dwelling units for Executive Condominium sites and sites in Central Area take into account the average unit sizes of recent comparable developments. The Development Control guidelines issued on 17 Oct 2018 for the maximum allowable number of dwelling units are used to estimate the yield of residential units for sites in Outside Central Area. The estimated number of dwelling units for some sites are also adjusted based on revised site areas.

(2) Site is imposed with a DU cap of 116 units.

(3) New sites introduced in 2H2019.

(4) Sites are imposed with a retail cap of 2,000 sqm GFA.

(5) Site is imposed with a retail cap of 33,000 sqm GFA and a minimum office quantum of 45,000 sqm GFA.

(6) This is a Master Developer site with a total GFA of 390,000 sqm and a DU cap of 4,000 units. The estimation of 1,000 units is based on the minimum quantum to be developed in Phase 1 which will be specified in the sales condition.

(7) Refers to estimated date the detailed conditions of sale will be available and applications can be submitted.

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