Rolled over sites to steal limelight in H1 2014 GLS
Ministry of National Development (MND) may have introduced seven new sites across the confirmed and reserve lists for the H1 2014 Government Land Sales (GLS) Programme, but it is the older sites on the current H2 2013 slate being rolled over that will steal the limelight.
Among private condo sites, the 2.5-hectare land parcel at Prince Charles Crescent (Parcel B) is expected to garner the most interest, as this is the only site on the confirmed list that is located in the city fringe.
The site, which can generate about 655 homes, is next to Wing Tai's The Crest condo project.
Among EC sites, the land parcel in Choa Chu Kang Drive is likely to attract a higher number of bids, taking into account demand from upgraders living in the Choa Chu Kang area.
The site, which can generate about 535 units, is a short distance from Choa Chu Kang MRT station, town centre and the Lot One Shopper's mall.
Next to Potong Pasir MRT station, a commercial and residential site along Upper Serangoon/Meyappa Chettiar roads, is also expected to be popular.
The above three sites will be moved from the reserve list of the current H2 2013 GLS Programme to the confirmed list for the first half of next year.
Reserve list sites are launched for tender only upon successful application by a developer, unlike sites on the confirmed list, which are released according to a prestated schedule regardless of demand.
Among the new sites on the confirmed list are two pairs of adjacent sites with simultaneous tender closings for each set under the "batched tender" system. MND noted this is to "encourage more prudent bidding by developers".
The first pair of sites, in Yishun St 51, are for EC development and will be launched in March.
In June, the second pair of adjacent sites, along Fernvale Road in Sengkang West, will be launched. These are for private housing development.
Residents in the new projects on these two sites will be served by the Seletar Mall.
The site is next to an LRT station that is linked to Sengkang MRT station.
Source: Business Times –19 December 2013