By Tria Dianti
SINGAPORE – Singapore's private housing supply has been ramped up to 4,090 units in the first half 2023 – a 17 per cent increase from 3,505 units in the second half 2022.
In a statement on Thursday (8 December), the Urban Redevelopment Authority (URA) said that the Government Land Sales (GLS) Programme for the first half of 2023 (1H2023) comprises seven Confirmed List sites and nine Reserve List sites. These sites can yield about 7,715 private residential units, 199,750 sqm gross floor area (GFA) of commercial space and 530 hotel rooms.
This is in response to strong demand from homebuyers.
The Confirmed List supply for 1H2023 will bring the total pipeline supply of private housing (including executive condominiums, or ECs) to about 65,000 units, the URA said. This will comprise "55,100 units with planning approval and 9,900 units from GLS sites and awarded en-bloc sites that have not been granted planning approval yet", the URA noted. "Of these, about 33,600 units will be completed in the next two years, significantly higher than the 11,500 units completed since 2021."
Jurong Lake District
To kickstart the next phase of development of Jurong Lake District, the government will be releasing, via the 1H2023 Confirmed List, a 6.8ha white site in the precinct for sale to a master developer. This comprises three plots of land linking the Jurong East MRT interchange station and the future Jurong Lake District station of the Cross Island Line.
"The intention is for a single developer to comprehensively master plan the site and use district-level urban solutions (such as a district cooling system) that will be integrated within the mixed-use development," the URA said.
The development of this area is targeted to be progressive over the next five to 10 years, in tandem with market demand. The tender winner will be asked to build at least 70,000 sq m gross floor area of office space and 600 private housing units.
This area has the potential to generate around 150,000 sq m of office space, 1,760 private residential units and 75,000 sq m gross floor area for hotels, retail or developments for community uses.