The government has released 4 land sites for sale last week.
Will this mean more new launches to look forward to?
URA releases 2 residential plots and 2 mixed-use plots
Following the regulatory restrictions placed on the industry in July due to concerns with the burgeoning property prices and high bids for land, the authorities have now given the market some possible respite.
Out of the 4 sites, 2 are on the confirmed list. These 2 sites are in increasing populated and popular areas – Sims Drive and Middle road. The latter is a 7,463 sq m site zoned for integrated use. Being situated in the upcoming Ophir-Rochor district, the short to long-term prospects for this site could be immense.
Surrounding the site are landmarks such as South Beach, Raffles Hotel and Bugis Junction.
This site has both a high- and low-zone, within the former a building of up to 20 storeys can be built, and for the latter, there is a 6-storey limit. The maximum number of residential units allowed is 375, with 1,500 sq m first floor of the building zoned for commercial use.
There are restrictions on this site, however – condominiums, serviced apartments, strata landed homes and offices are not allowed. With these restrictions, it would be interesting to see what kind of development will be built here.
Sims Drive in Geylang zoned for 570 residential units
The site on Sims Drive, however, is the opposite. It is zoned entirely for residential use and condominiums, flats or even strata landed homes can be built on this 16,225 sq m site. Only serviced apartments are not permissible.
The site can yield up to 570 new homes and the maximum gross floor are (GFA) allowed is 48, 676 sq m.
There is another 11,530.9 sq m site in the Ophir-Rochor district also up for bids but under the reserve list. This means that only when a developer puts in a bid that meets the minimum price will the site be released for public tender.
This site is on Tan Quee Lan Street, with Bugis Junction, the DUO development and Kampong Bugis in its vicinity. This plot can yield up to 580 units and also zoned for integrated use. The last site also under the reserve list is a 15,663 sq m one on Dairy Farm Walk. It is zoned for residential use only and can yield up to 390 new homes.
Will these new sites bring new energy to the land sales sector even as mega-sites try their hands at collective sales?