logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Singapore
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
+65 6224 8181
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management (CBRE Global Investors)
      • Property Management
      • Valuation & Advisory Services
    • Industries & Specialties
      • Office
      • Retail
      • Industrial & Logistics
      • Data Centres
      • Hotels
      • Japan Desk
      • Residential
      • Sustainability
      • Flexible Workspace
    • Services for Investors
      • Capital Advisors
      • Consulting
      • Host
      • Investment Accounting & Reporting Solutions
      • Leasing & Advisory
      • Project Finance
      • Property Management
    • Services for Occupiers
      • Enterprise Facilities Management
      • Host
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Project Finance
      • Transaction Management
      • Workplace
  • Properties
    • Office
      Retail
      Industrial
      Flexible Office
      Residential
      Shophouse
      Hospitality
  • Research & Reports
    • About Research
      Singapore Research Archives
      South East Asia Research
      Asia Pacific Research
      Global Research Gateway
      Global Research Gateway Support
  • People & Offices
  • About CBRE
    • Careers
      Client Tools
      Corporate Information
      Corporate Responsibility
      Case Studies
      Investor Relations
      Media Centre
      Asia Media Centre
      Expert Opinions
      CBRE 60 Anniversary

Next

CBRE's comments on private new home sales performance in March 2021
  • CBRE comments on the release of 2H 2020 Government Land Sales (GLS) programme

CBRE comments on the release of 2H 2020 Government Land Sales (GLS) programme

Singapore | June 24, 2020
  • Email
  • Share
  • Tweet
  • Share

By Mr Desmond Sim (沈振伦), Head of Research, Southeast Asia, CBRE
 

Calibration of supply

- Three new residential sites were added to the Confirmed List, with another site added to the Reserve List.

- The tenders for two sites on the 1H 2020 Confirmed List had been extended to October 2020 to provide developers with more time to assess market conditions. Similarly, the Confirmed List sites launching in the last quarter of the year will also have a longer tender period of six months.

- Should any developer want to acquire land for commercial use, they can trigger sites on the Reserve List.


Residential

With a build-up of unsold units from launched projects (4,506 units in 1Q 2020 from 4,389 units in the previous quarter), the number of residential units introduced on the Confirmed List has been on the decline since 1H 2019 in the aftermath of the en bloc frenzy.

 

A total of 1,370 residential units were proposed for the Confirmed List of GLS in 2H 2020, the lowest since 1H 2016 when 1,560 units were offered.

 

All three sites on the Confirmed List are new sites, with an EC site at Tengah Garden Walk. The two residential sites at Northumberland Road and Ang Mo Kio Avenue 1 offer developers options in mature housing estates. On the Reserve List, all three residential sites were from the 1H 2020 Reserve List, with the addition of a site at Lentor Central featuring commercial component.

 

Commercial

As none of the commercial sites were triggered from the 1H 2020 Reserve List, the same sites have been rolled over to 2H 2020, with no commercial sites introduced in the Confirmed List. 

 

CBRE Research Views – Overall

Overall, the measured supply in the 2H 2020 GLS Programme is not surprising against the backdrop of the COVID-19 pandemic. This is a degustation menu as the Confirmed List presents palatable sites with smaller units but with greater variety in terms of location. Should any developers’ appetite for land be unsatiated, they can still order from the Reserve List.

 

While unsold inventory appears to be under control, there has been some headwinds on unit sales under current show flat restrictions imposed by the government, especially during the “circuit breaker” period.

 

Nonetheless, the GLS Programme is a retrospective programme for the future needs of developers. It is revised twice every year. At the same time, this GLS Programme has provided indications on new development nodes which may sprout out from future infrastructure completions (e.g. the site along Ang Mo Kio Ave 1 which is in proximity to the upcoming Mayflower MRT station, served by the Thomson-East Coast Line).



END


Follow us on Twitter: @cbresingapore
And on LinkedIn: company/cbre-asia-pacific

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.

Media Contacts

liching
Li Ching Seah
Associate Director
Singapore
Marketing & Communications
+65 6326 1209
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • People & Offices
  • Investor Relations
  • Contact Us
  • Global Web Privacy and Cookie Policy
  • Singapore Privacy Policy
  • Sitemap
  • Disclaimer
  • Terms of Use
  • LinkedIn
  • Twitter
  • Youtube
  • Facebook
  • Instagram