Latest news with #GLS
Business Times
3 days ago
- Business
- Business Times
Singapore acts to draw developers back to state land tenders
[SINGAPORE] Despite the uncertain global economic and political climate, the government will continue to provide stable land supply for private housing development in the second half of this year. Last Friday (Jun 13), the Ministry of National Development (MND) said it will release land for about 4,725 private housing units in H2 2025 through the confirmed list, a 6 per cent drop from the 5,030 units in H1 2025. These figures include executive condominium (EC) units, a public-private housing hybrid, with initial buyer eligibility and resale restrictions that are completely lifted 10 years after an EC project has been completed. Beyond the numbers, what is more important is that developers are being offered an appealing selection of plum sites that is likely to draw more of them to participate in government land sales (GLS) tenders than in the past 15 months. After all, it is only when these sites are sold to developers can the intended private housing supply be actualised and cater to home buying demand. This includes aspirational upgrading demand from those living in Housing & Development Board flats. Under the GLS programme, property developers are offered land through two channels. On the confirmed list, sites are launched for sale according to schedule, regardless of demand. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up In contrast, sites on the reserve list are launched for sale only upon successful application by a developer, or when there is sufficient market interest. By market watchers' reckoning, the package of sites MND has put together for the next-half confirmed list is so attractive that developers are unlikely to trigger for sale sites on the reserve list. All 10 residential sites – including two EC plots – on the H2 confirmed list are new. They offer a wide range of choices for developers. There are sites in the prime districts (next to Newton MRT station, and in Dunearn Road) and in city-fringe areas (in Tanjong Rhu Road, next to Singapore Swimming Club; and a plot in Kallang Avenue facing the waterway). There are also well-located plots in the suburbs (a site in front of Tanah Merah MRT station, another a stone's throw from Lentor MRT station and an EC site near Woodlands South MRT station). MND will also be offering a private housing site near Dairy Farm Nature Park, and an EC site in Miltonia Close facing a golf course and the Lower Seletar Reservoir. The new projects on these two sites may attract home buyers who prefer to live in a more nature-oriented setting. Bite-sized and more manageable sites The appeal of the latest confirmed list for developers is not only that it has a spread of eye-catching sites but that most of these are relatively bite-sized, making the total investment more manageable. There are no mega sites that can yield 700 to 1,000 housing units as seen in GLS tenders over the past few years. Five of the 10 plots on the H2 confirmed list can yield between 335 and 450 units. The parcel that can generate the most homes, 625 units, is in Dover Road. It has strong selling points: It is near the one-north MRT station and a string of educational institutions, from Fairfield Methodist School (Primary) and Anglo-Chinese Junior College to the Insead and Singapore Institute of Technology @ Dover campuses. The combination of well-located sites and palatable sizes is calculated to pull more developers to state tenders. The competition will raise the likelihood that the respective top bids will be high enough for the state to award the plots. Developer participation at state land tenders has been patchy in recent times. Excluding EC sites, tenders have closed for 21 sites under MND's GLS Programme over the past 15 months. Of these, 10 sites fetched either one or two bids. Two of these 10 sites were not awarded as the bids were assessed to be too low: the Jurong Lake District (JLD) master developer site and the Media Circle site for which the entire residential component is to comprise long-stay serviced apartments. There were also a couple of sites – out of the pool of 21 – that did not garner any bids: Upper Thomson Road (Parcel A), which included a mandatory long-stay serviced apartment component, and Media Circle (Parcel B). The tender for Upper Thomson Road (Parcel A) will be launched again this month, under the H1 2025 confirmed list; this time, long-stay serviced apartment use will not be mandated but can be allowed subject to approval. The other three plots – the JLD master developer site, Media Circle and Media Circle (Parcel B) – are available on the reserve list. Industry feedback on JLD master developer site Those poring through the details of the latest GLS Programme would have spotted an interesting nugget of information in a footnote pertaining to the JLD master developer site on the reserve list. The 6.5-hectare site, zoned white, was previously launched for tender under the H1 2023 confirmed list but not awarded. The minimum office quantum required for Phase 1 of the master developer site has been cut from 70,000 square metres (sq m) gross floor area (GFA) to 40,000 sq m. A spokesperson for the Urban Redevelopment Authority (URA) told The Business Times on Friday night that the minimum office quantum for the entire site, too, has been reduced from 146,000 sq m GFA to 100,000 sq m. The changes were made in end-2024 following extensive engagements with industry stakeholders after URA announced the decision in September last year not to award the tender for the site. The master developer site, meant to kickstart the next phase of development in JLD, was put on the market under a dual-envelope concept-and-price tender launched in June 2023. The tender closed in March 2024 with a consortium of five developers – comprising CapitaLand Development, City Developments, Frasers Property, Mitsubishi Estate and Mitsui Fudosan (Asia) – submitting two bids, with different concept proposals for the site. There were no other bidders. Six months later, URA said the tendered price of S$640 per square foot per plot ratio for the shortlisted concept was assessed to be too low. The site was then placed on the reserve list. URA has envisioned JLD as the 'largest mixed-use business district outside the city centre'. Industry players, however, have reservations about the depth of office demand in the vicinity of Jurong East MRT station. Generally, big-name tenants prefer to have their Singapore offices in prime Central Business District (CBD) locations such as Marina Bay and Raffles Place. Key factors cited include the prestigious address, talent retention, C-suites' preference, and employee commuting time tends to be more equitable from all corners of the island to the CBD. Despite the reduction in the minimum office quantum requirement, the maximum GFA for the entire master developer site remains unchanged at 365,000 sq m. However, the maximum residential GFA for the overall site has been increased to 186,000 sq m, of which a maximum 166,000 sq m can be for private apartments/condos. Both these figures are 20,000 sq m higher than the original numbers when the site was launched. Being allowed flexibility to develop a bigger quantum of private apartments/condo units which can be presold should positively impact a potential master developer's cashflow, noted analysts. URA's spokesperson said the reduction of the minimum office quantum requirement was made to 'provide developers with more flexibility in determining the mix of uses and to better pace the roll-out of office space for the master developer site'. For private housing sites, too, the authorities have been taking heed of developers' participation rates at GLS tenders, how they make a beeline for choicer sites and give mediocre sites a miss. Developers have also been giving feedback that sites that can generate fewer than 500 housing units would be more palatable. URA engaging developers and other stakeholders to better understand the market dynamics is definitely a step in the right direction, especially in the current uncertain environment.
7NEWS
5 days ago
- Automotive
- 7NEWS
Mercedes-Benz GLE and GLS recalled
Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. 'Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach,' the company says in its recall notice. 'If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. 'A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle.' Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. A total of five vehicles are affected from 2024 The Vehicle Identification Number (VIN) list is attached here The original recall notice is attached here If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718.
Perth Now
5 days ago
- Automotive
- Perth Now
Mercedes-Benz GLE and GLS recalled
Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. 'Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach,' the company says in its recall notice. 'If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. 'A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle.' Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert A total of five vehicles are affected from 2024 The Vehicle Identification Number (VIN) list is attached here The original recall notice is attached here If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718. MORE: Everything Mercedes-Benz GLE • GLS
The Advertiser
5 days ago
- Automotive
- The Advertiser
Mercedes-Benz GLE and GLS recalled
Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. "Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach," the company says in its recall notice. "If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. "A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle." Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718. MORE: Everything Mercedes-Benz GLE • GLS Content originally sourced from: Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. "Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach," the company says in its recall notice. "If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. "A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle." Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718. MORE: Everything Mercedes-Benz GLE • GLS Content originally sourced from: Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. "Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach," the company says in its recall notice. "If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. "A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle." Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718. MORE: Everything Mercedes-Benz GLE • GLS Content originally sourced from: Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. "Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach," the company says in its recall notice. "If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. "A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle." Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718. MORE: Everything Mercedes-Benz GLE • GLS Content originally sourced from:
Business Times
13-06-2025
- Business
- Business Times
Newton, Tanjong Rhu, Dover and Bedok plots among 11 new housing sites unveiled for sale; two EC parcels also on offer
[SINGAPORE] Eleven new sites for private residential projects have been made available under the government land sales (GLS) programme, including prime plots in Newton, Bukit Timah and Tanjong Rhu. Ten of the sites announced on Friday (Jun 13) are on the Confirmed List for the GLS programme for the second half of 2025. The last site, a 0.23-hectare (ha) plot in Cross Street in the Central Business District (CBD) for long-stay serviced apartment use, is on the Reserve List. Market watchers expect to see strong demand for the Newton and Tanjong Rhu sites – the first state land plots in these planning areas that have been unveiled for sale in almost three decades. The 0.59-ha site in Newton along Bukit Timah Road is expected to be hotly contested, and can be built into 340 units. The site is anticipated to launch in August. In 2007, it was set aside for transitional office use for a 15-year period to address the shortage of office space, said PropNex's head of research and content, Wong Siew Ying. Knight Frank Singapore's head of research, Leonard Tay, said that the last residential GLS site in the Newton Planning Area was awarded in July 1997. It has been developed into Draycott 8. The plot should draw strong interest from both developers and homebuyers due to its proximity to Newton MRT station, he added. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The Tanjong Rhu site, which can house around 525 units, is expected to be available for tender in November. It is next to the Singapore Swimming Club and a 10-minute walk away from Katong Park MRT station. Marcus Chu, ERA Singapore's chief executive officer, said: 'This is the first residential GLS plot to be released along Tanjong Rhu Road in nearly three decades, making it a rare opportunity for developers seeking to cater to sustained upgrader demand in the city fringe.' The last GLS residential site released in Tanjong Rhu was awarded in 1997, said Wong. The 99-year leasehold site was developed by Far East Organization into Water Place. Developers will also be able to bid for a Dunearn Road site, the second private residential site to be offered in the new Turf City housing estate, said Lee Sze Teck, Huttons Asia's senior director of data analytics. The site's launch date is expected to be in December. The 1.91-ha site can accommodate 335 private residential units and 1,400 square metres of gross floor area of retail space. It is within walking distance of Sixth Avenue MRT station and is near several popular schools, including Nanyang Girls' High School and Hwa Chong Institution, said PropNex's Wong. A 1.35-ha site along Dover Road set to launch in November is expected to yield 625 units – the biggest project on the H2 GLS 2025 list. 'Located near Singapore's (research and development) hub, one-north, and the Singapore Science Park, the Dover site addresses the housing shortage relative to the area's employment. Given the 50,000-strong workforce in one-north, this parcel… will bring residents closer to key employment hubs,' said Lee. Meanwhile, competition for a 380-unit Bedok Rise site – expected to be up for tender in September – could be strong, given the limited supply of unsold stock in this locale amid healthy demand for mass-market homes, said Wong. This is the last development site around Tanah Merah MRT station following the sale of Sceneca Residence in November 2020, she added. Based on caveats lodged, as at May 31, Sceneca Residence has sold 264 of its 268 units since the project hit the market in January 2023. Robust demand for ECs Two executive condominium (EC) sites are also being offered among the 11 residential sites announced on Friday, in a nod to robust demand for EC projects in recent years. The first, in Woodlands Drive 17, can be developed into 560 units. The other EC site, in Miltonia Close, can yield around 430 units. Together with the three EC sites released in the H1 GLS exercise, the supply of EC units on the Confirmed List now stands at 1,970 units, the highest number annually since 2014, said Wong. 'Increasing EC supply not only provides more housing options, but also mitigates the 'fear of missing out' effect that often drives prices higher during periods of limited availability,' SRI's head of research and data analytics, Mohan Sandrasegeran, said. EC land prices have risen steadily, with the most recent EC land tender awarded in November 2024 to Sim Lian. At S$768 per square foot (psf) per plot ratio for a Tampines site, it set a record. In the first quarter, there were about 735 new EC units sold at or above S$1,600 psf, based on URA Realis data, he said. 'Notably, this included at least 149 units sold at S$1,800 psf or more – crossing a pricing threshold that had previously not been breached in the EC market.' The last three plots on offer are a 1.4-ha site in Dairy Farm Walk which will allow for about 500 units, a 1.12-ha parcel in Kallang Avenue which can house 450 units, and a 1.65-ha plot in Lentor Central which can be built into 580 homes. Tricia Song, CBRE's head of research for Singapore and South-east Asia, said: 'There has been a scarcity of private home supply in the location – the most recent sizeable project was 212-unit freehold Kallang Riverside at Kampong Bugis, which was launched in 2014.' The Lentor Central site will be the eighth to be made available in the area, Huttons' Lee noted. It is next to GuocoLand's fully sold Lentor Modern and the recently launched Lentor Central Residences, which sold 93.3 per cent of its 477 units at an average price of S$2,200 psf over its launch weekend in March. 'The area is popular among buyers for its attractive entry price. Around 100 units from launched projects remain unsold,' he added. Cautious outlook Apart from the Confirmed List sites, there are six residential sites on the Reserve List. The Cross Street plot announced on Friday is next to Telok Ayer MRT station and can yield 300 long-stay serviced apartments. It may be attractive to investors keen on renting out units to foreign professionals working in the area, said Knight Frank's Tay. 'However, it remains to be seen whether demand for CBD residences will lead any developers to trigger this site in the Reserve List,' he added. PropNex's Wong said: 'This plot is not likely to be triggered soon, in view of long-stay serviced apartments being still an untested product, and the potential supply of residential units that may come on the leasing market, owing to several new launches in the city.' Among the remaining five residential sites on the Reserve List is Media Circle (Parcel B), which closed with no bids in April 2025. The rest are sites in Marina Gardens Lane, Holland Plain, River Valley Green and another Media Circle plot. CBRE's Song said: 'We believe placing more supply in the Reserve List is an appropriate response, taking into consideration the slower home sales since April, still-rising prices (and an uncertain) macroeconomic climate. Developers in the recent land tenders have also been measured in their bids, signalling their cautious outlook.'
