Government Releases 14 Sites Under 2H2024 Gls Programme
The 2H2024 Government Land Sales (GLS) Programme has recently announced the release of a total of 19 sites by the government. This includes 8 private residential development areas, an Executive Condo (EC) site, and a mixed-use commercial/residential space on the Confirmed List. In addition, there are 3 private residential sites, 2 EC sites, a commercial site, 2 White sites, and a hotel site available on the Reserve List for application.
In the latest development, Wing Tai Holdings emerged as the top bidder with a rate of $1,325 per square foot per plot ratio (psf ppr) for the residential GLS site at River Valley Green. With all sites on the Confirmed List of the 2H2024 GLS programme being tendered and awarded, there will be a total addition of 5,050 private residential units. This is in line with the 5,450 units released in the 1H2024 GLS programme.
The government is set to introduce the highest supply of 11,110 potential new private homes this year, which is the most significant number since 2013. This is a developing story, and there is more to come. In addition, a residential site has also been launched for sale at Margaret Drive, and another one for long-stay serviced apartments has been launched at Media Circle.
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