Source : Channel NewsAsia - 4 Dec 2008
The Singapore government will not be adding any new sites to its land sale programme for the first half of next year.
The National Development Ministry (MND) says this is because the global economic outlook remains weak in 2009.
This is expected to have an impact on Singapore’s economy and property market.
MND released its list of land parcels available for sale in the first half of next year on Thursday.
It will be carrying over 37 sites from this year’s list.
Another unsold executive condominium site at Punggol Road will also be added.
All the sites will be made available through the reserve list.
This means the government will only put a site up for sale via tender, after an interested party has pledged to bid for the site at an acceptable minimum price.
MND says the 38 sites on next year’s list can potentially yield 7,920 private homes, 512,000 square metres of gross floor area and 5,160 new hotel rooms.
The ministry says commercial space that will be released in 2009 outside of the land sale programme will be reduced and confined to only projects that are meant to meet strategic economic or development objectives.
In all, there will be another 40,000 square metres of commercial space, including space at One-North, Sentosa, parks and MRT stations.
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