On 8 June, four confirmed list sites and 11 reserve list sites were released by the government for its 2016 second half Government Land Sales Programme or GLS in short. These combined sites have a total yield of about 7,550 private residential units and also total gross floor area or GFA in short of 277,100 square metres of commercial property space. In comparison to 1H2016, there were 7,240 units released under the GLS program for new condo launch or new property development.
Three residential plots for new launch condo are at Fernvale Road, Perumal Road and West Coast Vale as well as one mixed development site at Upper Serangoon Road. All these sites combined will generate a yield of about 2,170 residential real estate and gross floor area of 15,500 square metre of new commercial property space.
According to Ministry of National Development, the predominantly residential site at Upper Serangoon Road will have amenities which will provide much convenience catering to the needs of residents in the Bidadari HDB estate.
These 2,170 units released in 2H2016 GLS programme in the confirmed list is higher than the launched units of 1,560 in the confirmed list of 1H2016 GLS programme and yet as the same time, both numbers released in entire 2016 GLS programme are fairly close as a result of the sale of a reserve list site in February.
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