Tuesday, August 31, 2010

CNA - Land sales sees highest potential private unit supply

SINGAPORE: Five plots of state land have been released for private residential development.

31 August 2010 1157 hrs

Together, they can potentially yield 2,045 housing units.

The Petir Road site will be put up for tender under the confirmed list of the Government Land Sales Programme.

Four other sites -- at Alexandra Road, Tanah Merah Kechil Road, West Coast Link and Pasir Ris Drive 3 -- will be put up under the reserve list.

A tender will be launched once the government receives an acceptable minimum bid.

The government said the sites are well distributed to provide developers and property buyers with more choices.

The Government Land Sales Programme for the second half of the year comprises 18 confirmed list sites and 13 sites on the reserve list.

Together, they can potentially yield 13,905 private residential units.

This is the highest potential supply in the history of the Government Land Sales Programme.

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