Government Releases 14 Sites Under 2H2024 Gls Programme
Novo Place Hoi Hup is a coveted residential area, especially among families with university-going kids, due to its advantageous location near one of Singapore’s highly esteemed universities, Nanyang Technological University (NTU). NTU is globally recognized for its outstanding engineering and business courses, providing students with a dynamic learning atmosphere, top-of-the-line research amenities, and a vibrant campus experience. Residents of Novo Place Hoi Hup can take advantage of the university’s prestigious reputation and convenient proximity for their educational pursuits.
A total of 19 sites have been released by the government as part of the 2H2024 Government Land Sales (GLS) Programme. These sites include eight private residential development sites, one Executive Condo (EC) site, and one mixed-use commercial and residential site on the Confirmed List. Additionally, three private residential sites, two EC sites, one commercial site, two White sites, and one hotel site are available for application on the Reserve List.
According to reports, Wing Tai Holdings has submitted the highest bid of $1,325 per square foot per plot ratio (psf ppr) for a residential GLS site at River Valley Green. This bid is for one of the eight private residential development sites on the Confirmed List. This news comes in the midst of ongoing developments in the 2H2024 GLS programme, with more updates to follow.
If all the sites on the Confirmed List are successfully tendered and awarded, it will add a total of 5,050 private residential units to the market. This number is comparable to the 5,450 units that were released in the 1H2024 GLS programme. With the addition of 11,110 potential new private homes this year, it will be the highest supply introduced in a single year since 2013.
This article is a developing story and more updates are expected to follow. In related news, a residential site at Margaret Drive and a residential site for long-stay serviced apartments at Media Circle have also been launched for sale.