Government Land Sales (GLS) Sites at Dairy Farm Walk and Tengah Garden Avenue Launched for Sale; Bayshore Road Site Open for Application

, ,

Meyer Blue contractor

Introduction

The Government Land Sales (GLS) program has unveiled two new sites for sale at Dairy Farm Walk and Tengah Garden Avenue, marking a significant development in Singapore’s property landscape. Alongside, a site at Bayshore Road is now open for application, presenting promising opportunities for property developers and investors alike. Let’s dive into the details of these exciting new land parcels and their implications for the real estate market.

Meyer Blue contractor acquisition, at a compelling $392.18 million – slightly above its guide price – marks a pivotal chapter in the legacy of Meyer Park.

What is the GLS Program?

The Government Land Sales (GLS) program is a strategic initiative by the Singapore government aimed at managing the supply of land for private development. By regulating land availability, the GLS program helps stabilize property prices and ensures a steady flow of development projects.

The Purpose of the GLS Program

The primary goal of the GLS program is to control land supply, thereby maintaining a balance between demand and supply in the property market. This approach helps prevent speculative bubbles and ensures sustainable urban development.

How the GLS Program Works

Land parcels under the GLS program are released through two main mechanisms: the Confirmed List and the Reserve List. Sites on the Confirmed List are launched for tender at predetermined dates, while those on the Reserve List are put up for sale only if a developer’s indicated minimum price is acceptable to the government.

New Launches: Dairy Farm Walk and Tengah Garden Avenue

Dairy Farm Walk Site Details

Located in the heart of a serene residential enclave, the Dairy Farm Walk site is poised to attract developers seeking to create a tranquil living environment. This site offers the potential for a blend of nature and modern amenities, appealing to both families and nature enthusiasts.

Key Features of Dairy Farm Walk

  • Size and Plot Ratio: The site spans approximately 1.5 hectares with a permissible gross floor area of around 40,000 square meters, translating to a plot ratio of 2.8.
  • Accessibility: It is well-connected to major expressways and public transportation networks, enhancing its attractiveness for potential residents.
  • Amenities: Proximity to schools, parks, and retail hubs makes it an ideal location for residential development.

Tengah Garden Avenue Site Overview

The Tengah Garden Avenue site is situated within the Tengah New Town, an area envisioned as a “forest town” with extensive green spaces and smart city features. This site represents a unique opportunity to contribute to Singapore’s next-generation urban landscape.

Key Features of Tengah Garden Avenue

  • Eco-Friendly Development: Tengah New Town is designed with sustainability in mind, featuring car-free zones, energy-efficient buildings, and abundant greenery.
  • Plot Size and Ratio: The site covers about 2 hectares with a plot ratio of 3.0, allowing for a substantial build-up of residential units.
  • Smart Living: Incorporation of smart technologies for home automation, energy management, and community engagement.

Bayshore Road Site: Open for Application

Strategic Location of Bayshore Road

The Bayshore Road site, now open for application, is strategically located in the East Coast area, a coveted residential district known for its vibrant lifestyle and scenic views. This site is set to attract developers looking to capitalize on the prime location and high demand for coastal living.

Key Features of Bayshore Road

  • Size and Development Potential: The site offers a generous land area of 2.5 hectares, with a plot ratio of 2.5, suitable for a mix of residential and commercial development.
  • Connectivity: Excellent accessibility to major highways, MRT stations, and the Changi Airport enhances its appeal.
  • Lifestyle Amenities: Close proximity to East Coast Park, shopping centers, and renowned schools makes it a highly desirable location.

Implications for the Real Estate Market

Boosting Housing Supply

The release of these sites under the GLS program will contribute to an increase in housing supply, addressing the growing demand for residential properties in Singapore. This is crucial for maintaining market stability and providing affordable housing options for citizens.

Encouraging Sustainable Development

With sites like Tengah Garden Avenue promoting eco-friendly and smart living, the GLS program underscores the government’s commitment to sustainable urban development. This aligns with Singapore’s vision of becoming a green and liveable city.

Opportunities for Developers

These new sites present lucrative opportunities for developers to create innovative and desirable living spaces. The strategic locations and favorable plot ratios provide ample room for creative and profitable projects.

Frequently Asked Questions (FAQs)

1. What is the GLS program?

The Government Land Sales (GLS) program is an initiative by the Singapore government to regulate the supply of land for private development, ensuring a stable and sustainable property market.

2. Where are the new GLS sites located?

The new GLS sites are located at Dairy Farm Walk and Tengah Garden Avenue, with an additional site at Bayshore Road open for application.

3. What makes the Tengah Garden Avenue site unique?

Tengah Garden Avenue is part of Tengah New Town, designed as a “forest town” with extensive green spaces, smart city features, and eco-friendly development principles.

4. How does the GLS program benefit the real estate market?

The GLS program helps stabilize property prices, prevents speculative bubbles, and ensures a steady supply of development projects, contributing to a balanced and sustainable real estate market.

5. What opportunities do these new GLS sites offer developers?

Developers can capitalize on the prime locations, favorable plot ratios, and potential for innovative residential and commercial projects, leading to profitable ventures.

6. How does the Dairy Farm Walk site enhance residential living?

Dairy Farm Walk offers a serene environment with proximity to nature, schools, parks, and retail hubs, making it an attractive location for families and nature enthusiasts.

Conclusion

The launch of new GLS sites at Dairy Farm Walk and Tengah Garden Avenue, along with the Bayshore Road site opening for application, marks a significant milestone in Singapore’s real estate landscape. These developments promise to boost housing supply, promote sustainable living, and provide lucrative opportunities for developers. As Singapore continues to evolve as a global city, these strategic land releases will play a crucial role in shaping the future of urban living.

By embracing these opportunities and focusing on innovative, eco-friendly developments, the real estate market can look forward to a vibrant and sustainable future.