Give developers more time – up to 7 years – to complete and sell homes in large projects
En bloc redevelopment of large old housing developments optimises land use and produces high quality homes
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
TO MEET private housing demand, the government sells residential sites. The confirmed list of the H2 2024 Government Land Sales (GLS) programme comprises nine private housing sites, including one executive condominium site, as well as one commercial and residential site, which can collectively yield about 5,050 homes and 14,300 square metres gross floor area (GFA) of commercial space.
Should supply be further boosted by reviving activity in the residential en bloc market? In particular, could developers be encouraged to take on large en bloc housing sites such as that of Pine Grove, whose latest collective sale attempt closed in May with no bids.
Located off Ulu Pandan Road, Pine Grove is a residential development with about 59 years of land lease outstanding, which sits on a 893,218 square feet site.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘We’ve seen the worst-case scenario’: How Indonesia’s Cinema XXI navigated crisis and change
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Auditors flag uncertainty on Katrina Group’s ability to continue as a going concern
