Singapore announces year second half land sale plan even as most of first half sites remain unsold

Of the 16 sites proposed for sale in 2016 first half, 11 will be carried over to the second half.

The government has listed 15 sites for sale for the July-December period adding to the 11 sites being carried over from the 16 sites put on sale in the first half.

The Ministry of National Development (MND) said on Wednesday that it has released 4 sites under the confirmed list and 11 sites under the reserve list of the second half 2016 Government Land Sales (GLS) programme.

The sites can yield up to 7,550 private residential units, including 780 Executive Condominiums, as well as 277,100 square metres gross floor area (GFA) of commercial space, the MND press release showed.

The first half GLS programme had a total of 16 sites, of which 4 were in the confirmed list and 12 on the reserve list but 11 from the reserved list remain unsold, the Ministry said.

All these 11 sites will be carried over to the second half proggramme, MND said.

The maximum retail GFA for the Holland Road and Beach Road sites will be reduced from 13,500 sqm to 6,800 sqm and from 8,000 sqm to 3,000 sqm respectively after a review which took into consideration the development plans and provision of commercial amenities in the areas, the Ministry added.