The number of units on the Confirmed List of the 2H 2022 GLS programme is 3,505 (including ECs), which is a 25.9 per cent increase compared to 1H 2022’s 2,785 units. Many of the sites are attractive as they are near an MRT station. They also have a good sales track record from previous launches indicating that demand should be healthy for these projects.
Marina Gardens Lane may be the most popular site under the GLS programme confirm list. Developers who buy this site will have the first-mover advantage in the development of the Marina South Precinct as it is the first residential site out of 5 sites along the same stretch according to the URA Master Plan. The future development will also be the first residential development next to the popular tourist attraction Gardens by the Bay. We expect 3 to 5 bids for this site.
The next popular site will be the mixed-used development on Tampines Avenue 11. The sizeable commercial component of this site may boost the attractiveness of the plot since it is located within an enclave of BTO flats with few amenities nearby. The sales launch at Treasure at Tampines was a major success although the site was huge and not near an MRT station. Therefore, we anticipate that demand for the new site will be even stronger when a new project is launched here. Further, we expect strong pent-up demand as quite a number of HDB flats there have reached MOP in recent years and these families will be keen to upgrade and will be looking for a new condo in the area. We anticipate between 3 to 5 bids for this parcel.
The Bukit Timah Link site is situated on an irregular parcel of land, but we still expect demand to be healthy given the smaller overall quantum and the close proximity to the upcoming integrated development. We may see 5 to 8 bids for this plot.
The Tengah Plantation Loop plot should be the second EC site at Tengah. As the Tengah area continues to develop and more HDB dwellers shift into their flats, the introduction of more EC units in Tengah can help to meet the housing needs of young Singaporeans who wish to move near their parents living there and desire to live in a condo at a subsidised rate. There may be 6 to 9 bids for the plot at Tengah Plantation Loop.