News

Government Land Sales Programme for First Half of 2006 
Posted on Tuesday, November 29, 2005 - 12:00 AM

The Ministry of National Development (MND) today announced: (a) The Government Land Sales (GLS) Programme for private residential, commercial and hotel development for the first half of 2006; and (b) The supply of private residential, commercial and hotel space from projects that will be initiated by various Government agencies in the first half of 2006, apart from the GLS programme.



Background

2 Since October 2001, the GLS Programme has comprised mainly sites on the Reserve List. Under the Reserve List, the Government will only release a site for sale if an interested party submits an application for the site to be put up for tender with an offer of a minimum purchase price acceptable to the Government. The successful applicant must undertake to submit a bid for the site in the ensuing tender at or above the minimum price offered in the application.

3 From time to time, the Government may release sites through the Confirmed List. Sites under the Confirmed List are released for tender at a pre-determined date, without the need for the sale to be triggered by any application. The number of sites in the Confirmed List in each GLS programme will depend on market conditions, the strategic need for certain sites to be developed, and other factors.

Confirmed List for the First Half of 2006

4 Having reviewed the sites for the GLS Programme for the first half of 2006, the Government has decided to transfer the commercial site at Collyer Quay, which was due to be released on the Reserve List in Dec 2005, to the Confirmed List in the first half of 2006. This is a 2.62ha site that comprises the existing Clifford Pier and former Customs Harbour Branch buildings. These buildings are intended for adaptive use as a retail and lifestyle development with a total of about 10,000 sqm gross floor area.

5 The development will form part of the necklace of attractions and activity-generating uses that are planned along the waterfront of Marina Bay. The initial elements of the attractions along Marina Bay are already in place with the completion of the Esplanade and One Fullerton. Other parts of the necklace of attractions such as the Singapore Flyer, the Integrated Resort at Bayfront and the Marina Barrage are due to be completed between 2007 to 2009. The sale of the Collyer Quay site through the Confirmed List is to enable the timely restoration of the existing buildings and the completion of the development with the other attractions around Marina Bay.

Reserve List for the First Half of 2006

6 At present, aside from the Collyer Quay site, there are 9 residential sites, 2 white sites, 2 commercial sites and 2 commercial & residential sites remaining on the Reserve List of the GLS Programme for the second half of 2005 [1]. All these sites will be carried over to the Reserve List for the first half of 2006.

7 In addition, the following 8 new sites will be added to the Reserve List:

a. three residential sites at Simei Street 4, Bishan Street 22/Street 25 and Westwood Avenue;
b. two commercial sites at Orchard Road/Somerset Road and New Bridge Road/North Canal Road; and
c. three hotel sites at Clemenceau Avenue/Unity Street, Sinaran Drive and Bencoolen Street.

8 The three new residential sites at Simei Street 4, Bishan Street 22/Street 25 and Westwood Avenue will provide more choices for private housing development on different parts of the island.

9 The commercial site at Orchard Road/Somerset Road which can potentially be developed for up to 23,300 sqm gross floor area of retail space and 160 apartment units will further enhance the retail diversity around the Somerset MRT Station. The other commercial site at New Bridge Road/North Canal Road will provide a small-scale development that will complete the street block in the area and cater to the needs of small and medium enterprises.

10 The improved regional economy and new tourist products offered in Singapore will boost tourist arrivals. More hotel sites will be needed to support the growth. Thus, three hotel sites at Clemenceau Avenue/Unity Street, Sinaran Drive and Bencoolen Street will be added to the Reserve List in the first half of 2006.

11 The GLS Programme for the first half of 2006 will therefore consist of:-

a. 1 confirmed site at Collyer Quay with a potential yield of 10,000 sqm of commercial space (see Annex 1); and
b. 12 residential sites, 2 commercial & residential sites, 4 commercial sites, 3 hotel sites and 2 white sites on the Reserve List (see Annex 1). These sites can potentially yield about 4,320 private residential units, 125,500 sqm of commercial space and 1,305 hotel rooms.

Other Government Supply to be made available in First Half of 2006

12 Apart from the GLS programme, the Government also makes available other supply of land and properties which will provide additional residential, commercial and hotel space. The Ministry of National Development works closely with other agencies to coordinate the supply from GLS and other sources of supply made available by the Government.

Supply from the Integrated Resorts

13 The Government has launched the Request-For-Proposals (RFP) for the Integrated Resort (IR) at Marina Bay on 15 November 2005 and has announced its target to launch the RFP for the IR at Sentosa in the first quarter of 2006. The IRs are expected to boost Singapores tourism sector, enhance our appeal in hosting conventions and exhibitions, and strengthen our status as an aviation, entertainment and retail hub.

14 Based on the submissions from prospective investors in the Request-For-Concepts exercise conducted in December 2004, it is estimated that the two IRs could generate about 100,000 sqm of retail space and 3,400 hotel rooms in total. The actual supply of retail space and hotel rooms from the IRs would depend on the final concepts and designs proposed by the selected developers.

Supply from other Government projects

15 In addition to the retail space and hotel rooms from the IRs, the supply of private residential, commercial and hotel space by the Government outside the GLS programme in the first half of 2006 is as follows:

a. 125,000 sqm of commercial space [2], mostly for retail use, including:

i. Retail facilities under the Economic Development Boards (EDB) Warehouse Retail Scheme (40,000 sqm [3]);
ii. A shopping mall (25,000 sqm) in the Clementi Town Centre mixed-use development;
iii. Leasing of vacant State buildings to allow for the expansion of commercial schools supported by EDB (20,000 sqm);
iv. Localised retail facilities in parks and recreation areas, business parks, MRT stations and HDB estates;
v. Interim use of vacant State buildings and small land parcels; and
vi. Sale of conservation shophouses.

b.1,100 hotel rooms [4] from projects in Sentosa and other locations; and

c. 250 private residential units at Sentosa.

16 Most of the commercial space comes from a few major projects, such as the Warehouse Retail Scheme, the mixed-use development in Clementi Town Centre, and the leasing of vacant State buildings to commercial schools. These projects are intended to realise the Governments economic or development objectives.

17 The remaining projects, such as those in parks and recreation areas, MRT stations and HDB estates, are small-scale and will cater to localized demand.

18 The announcement of the planned supply to be made available by the Government outside the GLS programme will provide a more complete picture of the overall Government supply of space for the first half of 2006. The quantum is indicative and may change as the plans are still under study. The actual supply that will be realized would depend on market demand and interest from investors.

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[1] Four sites on the Reserve List for the second half of 2005 have been triggered for sale. These comprise two commercial sites at Orchard Road/Paterson Road and Orchard Road/Killiney Road, a residential site at Alexandra Road/Tiong Bahru Road and a commercial & residential site at Choa Chu Kang North 6/Yew Tee Close.
[2] Of the 195,000 sqm of commercial space planned to be made available by the Government outside the GLS programme in the second half of 2005, only about 135,000 sqm was initiated. The remaining quantum of around 60,000 sqm is included in the 125,000 sqm of commercial space to be made available in the first half of 2006.
[3] Of the 70,000 sqm of retail space planned for the Warehouse Retail Scheme for the second half of 2005, about 30,000 sqm was initiated. The remaining quantum of around 40,000 sqm is delayed to the first half of 2006.
[4] This includes 700 rooms, out of the total of 1,200 rooms announced earlier for the second half of 2005, that have been delayed.

Full release found at http://app.sprinter.gov.sg.