_H1 2025 Government Land Sales Programme
Summary of Residential, Commercial and Hotel Sites in H1 2025 vs H2 2024
The government continues to keep the supply of private homes through the Government Land Sales (GLS) Programme at healthy levels in the first half of 2025, which is timely, prudent and sound given the recent turn in homebuyer sentiment shown through the brisk take up of newly launched project units in November 2024. While the return of homebuyers due to pent up demand is nascent at the moment, the expectation of continued reduction in interest rates paired together with tight national employment levels and supported by overall strong household balance sheets, there are reasons to expect that demand for private residences will remain firm in the year ahead. The Confirmed List supply has been above 5,000 residential units, and the Reserve List above 3,000 units for a combined total of 8,000 plus homes since H2 2023. The provision of seven new sites in the Confirmed List that comprise of a good mix of central and suburban locations, with a hearty infusion of executive condominiums (ECs) plots will provide developers and homebuyers with a variety of options.
In contrast, there are no new sites on the Reserve List, and three of the sites that were not awarded in 2024 have now been relegated to this list (Media Circle, Marina Gardens Crescent and Jurong Lake District). The Jurong Lake District site, now on the Reserve List, remains sizable at 6.47 ha, only slightly smaller than the original 6.8 ha when it was announced on the Confirmed List of H1 2023. At this magnitude, only select large developers or partnerships of substantially-sized developers will have the wherewithal to trigger the Jurong Lake District parcel. There are also no commercial sites for office use in the CBD with the only office offerings being the white sites in the regional centres of Jurong East and Woodlands.
Commercial & Residential Sites
Hougang Central
The government continues to upgrade existing housing estates with new facilities at major transport nodes in established population centres. The Hougang Central site is sizable at 4.68 ha, and at 40,000 sqm or 430,556 sf of retail space, a good size suburban mall of more than 250,000 sf net lettable area can be constructed that would in all likelihood become the locus of human activity in Hougang. With 835 possible new private homes in this development, the mall will enjoy a consistent catchment of shopper traffic, while residents in this future project will benefit from immediate access to two MRT lines at Hougang (Cross-Island station under construction) as well as shops and services at the mall. As such, notwithstanding the size and the substantial land price, this site will likely be highly sought after by developers during the tender and homebuyers when the residential units are launched for sale.
Lakeside Drive
With the last awarded GLS site in the Jurong West Planning Area in March 2015 to MCL Land which is also the current Lakeville, the newly added Lakeside Drive site on the GLS Confirmed List will create some buzz among developers, given that the site is right by the doorstep of Lakeside MRT station. Among the Confirmed List sites in H1 2025, the Lakeside Drive GLS site has the second highest plot ratio, and with the site projected to have an estimated 575 units on a regular shaped parcel, the eventual development is expected to be high-rise. Residents likely be able to enjoy good views of the Jurong Lake and the gardens there.
The Lakeside Drive GLS is also in close proximity to Yuan Ching Secondary School and Lakeside Primary School, and just one MRT stop to Jurong Point where more household retail and F&B options are available.
Dunearn Road
The Dunearn Road GLS site is the first GLS site in piloting the government’s plans to redevelop the former Turf Club area into a residential area. Developers who successfully bid for this site will be able to enjoy first mover advantage in Bukit Timah Turf City. A project with some 370 units will provide residents that include retirees who have lived in the landed areas of Bukit Timah, the opportunity to downsize to apartments and yet enjoy the attributes of the traditional prime Bukit Timah locality.
Chuan Grove
Given the robust sales at the newly launched Chuan Park recently, this second new Chuan Grove plot is likely expected to attract the attention of the developers. All eyes will be on the adjacent GLS Chuan Grove site when the tender closes on 8 July 2025, to provide an indication of the continued demand by homebuyers for private homes at this location.
This Chuan Grove site could prove attractive to potential downgraders from the landed areas in Serangoon as well as at Ang Mo Kio Avenue 1 (Tai Hwan and Mei Hwan areas), given its proximity to Lorong Chuan MRT station as well as Serangoon MRT station a stop away, adding access to the Circle Line and North-East Line. Additionally, NTP+, New Tech Park's mall with various retail options is located beside the site, as well as Bishan Junction 8 and Nex, both a station away. Homeowners can also expect strong leasing interest from families of foreign professionals given that the site is situated next to the Australian International School.
Sembawang Road (EC)
The last EC site awarded in Sembawang Planning Area was in October 2019 to MCC Land (Singapore) Pte Ltd, which is now Provence Residence. In the last few GLS tenders, EC sites have been highly contested, and there should be keen interest in this site. Nevertheless, some developers might be deterred by the site’s distance from Canberra MRT station (slightly over comfortable walking distance), and the irregular shape of the plot. However, a waterfront EC residence could attract HDB upgraders in the Sembawang area.
Dorset Road
The site at Dorset Road is centrally located with diverse amenities such as gyms and eateries nearby, making it suitable for families as well as professional couples and singles. Developers would show interest in this plot for its proximity to Farrer Park MRT Station, City Square Mall and Mustafa Centre where daily necessities and shopping are available. There is also Farrer Park Primary School located within walking distance, and this may attract families with young children starting primary school by the time the project is slated to be completed.
Telok Blangah Road
The Telok Blangah Road site is within walking distance to Telok Blangah MRT Station, and one stop away from VivoCity, the largest shopping mall in Singapore that is connected to Harbourfront MRT Station. With a GPR of 4.7 and an estimated 740 residential units, it is possible that the project will be built high, in order to capitalise views of the sea and the Marina at Keppel Bay.
Related Reading
Monthly Developer Sales - November 2024