The need to balance the disruption brought on by COVID-19 and the progressive decline in the unsold inventory of private housing units over the past six months has led the Singapore Government to announce a conservative slate of land supply for the second half of 2020, Colliers International says.

The Ministry of National Development (MND) announced on Wednesday (24 June 2020) that it will place four new sites, all residential, for the upcoming Government Land Sales Programme.

Of these four, three are on the Confirmed List – Northumberland Road, Ang Mo Kio Avenue 1, and Tengah Garden Walk (EC) –  which can potentially yield 1,370 dwelling units and 1,500 sq m of commercial space.

At a glance:

• Singapore's Ministry of National Development has announced it will place four new sites, all residential, for the upcoming Government Land Sales Program.
• Of these four, three are on the Confirmed List – Northumberland Road, Ang Mo Kio Avenue 1, and Tengah Garden Walk (EC).
• The Government Land Sales Program Reserve List for H2 2020 can offer a further 5,300 residential units, 1,070 hotel rooms, and 100,000 sq m of commercial space.

The number of dwelling units – 1,370 units, on the Confirmed List is 20.8 per cent below the 1,730 units in the 1H 2020 GLS, and is the lowest since 2H 2009 GLS (which had zero sites on the confirmed list). 

All in, the Reserve List can offer a further 5,300 residential units, 1,070 hotel rooms, and 100,000 sq m of commercial space.

Source: Colliers International

Colliers International Singapore Head of Research Tricia Song told WILLIAMS MEDIA the government's selection was "prudent and balanced".

“The twice-yearly review of the GLS program recognises the potential short term demand contraction by trimming the Confirmed List, while offering wide-ranging choices on the Reserve List that could be quickly brought to the market should demand rebound," she said.

"In the near term, we believe it offers relief to developers especially those who may still have ample inventory for sale. “

"Besides factoring in the economic contraction and uncertain business climate in the short term, the government has to plan for potential supply shortfalls over the medium to longer-term.

"Hence, it has increased the residential supply in the Reserve List which developers can initiate for development if they assess that there is demand."

All the eight sites on the Reserve List in the 1H 2020 will be carried over to the Reserve List in the upcoming GLS.

In addition, a new residential site – Lentor Central has been added.

This site is a relatively large site which can yield 610 residential units and up to 8,000 sqm of commercial space. 

Click here for more information about the current GLA sites available.

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