In the Reserve List, four of the nine sites are brand new: Lentor Gardens, Lorong 1 Toa Payoh, Plantation Close (EC) and commercial site located at Punggol Walk on a short-term lease for 30 years according to Wong Siew Ying, head of research and contentat PropNex. There are still a few Reserve List sites are at Pine Grove (Parcel B), Clementi Avenue 1, Senja Close (EC), Woodlands Avenue 2 (white site) along with River Valley Road (hotel site).
The Lakegarden Residences showroom set to house luxurious residential property that will host 300 sophisticated and elegant apartments.
“With seven sites listed on the Confirmed List, developers are unlikely to start one of these sites listed on the Reserve List in 1H2023,” says the ERA’s Mak. “One reason for this is that developers will be focused on the sites that are on the list that are confirmed. Another reason is that certain developers are more cautious in their plans to acquire land in view of the anticipated slowing growth in the economy by 2023.”
But this site located at Lorong 1. Toa Payoh would be one of the most well-known sites that are on the Reserve List. It is located within the mature Toa Payoh HDB estate, it’s three minutes away from the Braddell MRT station and near facilities like hawker centers community clubs, as well as healthcare clinics. “Over the past couple of years, there’s been no new developments in the estate that is mature Toa Payoh,” says Mak.
The most recent private residential development to be launched within Toa Payoh was in 2016 It comprised 578 units. Gem Residences located in Lorong 5 Toa Payoh by Gamuda Land, Evia Real Estate and Maxdin.
The site listed on the Reserve List at Clementi Avenue 1 could yield up to more than 500 units of residential homes. It is situated within two condos which have been launched and sold out in the form of The Clement Canopy and Clavon jointly developed through UOL Group and Singapore Land Group.
The appeal of the site is the location, which is in the well-known older estate of Clementi near to a number of well-established educational institutions like Nan Hua High School, the NUS High School of Mathematics and Science as well as The National University of Singapore (NUS). It is also located 800m away from Clementi MRT station. Clementi MRT station on the East-West Line, says ERA’s Mak.
There’s a brand new Lentor Gardens site (estimated 500 housing units) in the Reserve List which marks the seventh site located in the Lentor area which was released since the initial Lentor Central site was sold in July 2021. The seven sites in Lentor could be transformed into 3,500 private homes later. “Given the large supply of land of land, we believe that this site will not be removed from the Reserve List,” says Tricia Song, director of research at CBRE Southeast Asia.
There’s also a newly created Plantation Close EC site on the Reserve List, which is right next to Tengah Plantation Loop EC site which will be made available to sale on the Confirmed list 2H2022 in the month of December 2022, according to Song. “We think it’s unlikely that it will be activated to sell soon, given the more than 1,000 units that could be sold located on the site together.”
It is located in the Punggol Walk Reserved site is situated close adjacent to Punggol MRT station. The 8,400 sq m (90,418 square feet) commercial site that is leased for a 30 year tenure is available as one of the efforts of the Government to encourage decentralisation as well as to meet need for work spaces near to homes. “The release of sites with shorter leases will allow our land use to be renewed in shorter intervals to assist companies in adjusting their operations more quickly to changes in the economy,” says URA.
In spite of the shorter lease, PropNex CEO Ismail Gafoor expects his Punggol Walk plot “should garner attention due to the dearth of office space commercially available in the vicinity”.
1H2023 Reserve List 1H2023 Reserve List includes an site located at River Valley Road for developing an 530-room hotel. It was taken over in 2H2022 Reserve List. 2H2022 Reserve List.