The government will place eight residential sites on the confirmed list of the Government Land Sales (GLS) Programme for the first half of next year. These include four new sites and four that are carried over from the GLS Programme for the second half of this year.
The National Development Ministry (MND) said on Friday that these new sites can potentially yield about 2,925 residential units.
In addition, the reserve list for the first half of next year will have 16 residential sites and two mixed use sites. Of the 18 sites, six are new and 12 will be carried over from the GLS Programme for the second half of this year.
MND said in total, these 18 sites can yield about 7,625 private residential units. It added that there will be a total of five executive condominium sites under the GLS Programme for the first half of next year – two under the confirmed list and three under the reserve list.
All the sites in the GLS Programme for the first half of next year are located in the suburban or city fringe areas where more affordable private housing are expected to be built.
MND will also add two new hotel sites to the reserve list. One is located at Robinson Road and the other at Robertson Quay. It said this will provide more variety of sites for hotel development to suit the accommodation needs of business travellers and visitors.
The government suspended the confirmed list for its GLS Programme last October in view of uncertain market conditions at that time. The suspension was extended another six months, stretching till the end of this year.
But MND said in view of the strong demand for private housing and improved conditions in the property market, it has decided to reinstate the GLS Programme for the first half of next year to ensure that there is adequate supply of private housing to meet demand.
Source : Channel News Asia – 6 Nov 2009
Lush Dream Home 