The Singapore government has announced its slate for the second half of 2025 under the closely watched Singapore GLS programme. This latest release makes eleven new sites available for private residential development. Moreover, this strategic move is pivotal in shaping the nation’s property landscape. It aims to ensure a stable and sustainable supply of private housing. Specifically, ten of these plots are on the confirmed list, signalling a definite sale within the period. In addition, a site in the Central Business District (CBD) for serviced apartments is on the reserve list. This means it can be triggered for sale based on developer demand. This curated list arrives amid cautious market sentiment, balancing new housing needs with economic uncertainties.

Consequently, market analysts are forecasting strong, and even fierce, competition. This is particularly true for prized sites in the Newton and Tanjong Rhu planning areas. Remarkably, these areas have not seen new state land offered for sale in nearly three decades. This long hiatus, therefore, makes them exceptionally rare opportunities for developers. They can establish a flagship presence in established, high-value residential enclaves.

Highly Anticipated Prime Locations: A Closer Look

The Newton site, a 0.59-hectare plot on Bukit Timah Road, is widely seen as the crown jewel. Slated for an August launch, it is poised to attract top-tier developers. The plot can be developed into approximately 340 exclusive homes. Furthermore, its history is notable; the land was previously used for transitional offices. The plot’s allure is now magnified by its prime location and excellent connectivity. For instance, it is near the Newton MRT interchange and the Orchard Road shopping belt. As a result, experts predict it will be highly sought after, potentially setting new price benchmarks.

Similarly, the Tanjong Rhu site is generating significant industry buzz. This substantial plot can accommodate around 525 residential units and is scheduled for a November tender. As the first GLS site in this waterfront precinct since 1997, it presents a unique chance. Developers can cater to the sustained upgrader demand for city-fringe living. The location’s appeal is also enhanced by its proximity to the Singapore Swimming Club. It is also near the future Katong Park MRT station, promising excellent connectivity.

Other Key Sites on the Confirmed List

In addition, developers can bid on a Dunearn Road site in the new Turf City housing estate. This 1.91-hectare plot will support 335 private homes and retail space. Its location near Sixth Avenue MRT and popular schools should ensure robust interest when it launches in December.

Furthermore, a large 1.35-hectare site along Dover Road is set to launch in November. It is expected to yield 625 units, making it the largest project on this list. Located near Singapore’s One-North R&D hub, this development provides much-needed housing. It brings residents closer to key employment centres for the area’s 50,000-strong workforce.

Meanwhile, a Bedok Rise plot for 380 units will likely see intense competition in September. This is a direct result of the limited supply of new homes in this mature estate. It also represents the last major development parcel near the Tanah Merah MRT interchange.

Increased Supply to Meet Strong EC Demand

In a clear response to robust demand, the government has included two executive condominium (EC) sites. The first, in Woodlands Drive 17, can be developed into 560 units. Consequently, a second site in Miltonia Close will yield around 430 EC units. This injection of supply brings the total of new EC units to its highest level since 2014. Therefore, experts believe increasing EC supply is crucial for providing more housing choices. It also helps mitigate the “fear of missing out” effect that can drive prices higher.

Reserve List and Overall Market Caution

Beyond the confirmed plots, a Cross Street site is available on the reserve list. It can yield 305 long-stay serviced apartments, which may appeal to certain investors. However, analysts remain uncertain if it will be triggered soon. This is because the asset class is a relatively untested concept in the Singapore market.

Overall, the government’s decision to place more supply on the reserve list reflects a measured approach. It acknowledges the recent slowdown in home sales and a cautious developer outlook. This caution stems from rising costs and an uncertain macroeconomic climate.

Source: Business Times