Commentary on the GLS 1H 2026 – Sustained high housing supply, JLD 2.0 moved to Confirmed List

By Tricia Song (宋明蔚), Head of Research, Singapore and Southeast Asia, CBRE

Sustained high housing supply

The 2H 2026 Government Land Sale (GLS) program saw the government maintain the overall residential supply at around 9,200 units, similar to 1H 2026 GLS. Confirmed List supply slightly increased to 4,745 units from 4,575 units in 1H 2026, while Reserve List supply was tweaked downwards to 4,455 from 4,610 units. The supply consists of a good spread of sites across various geographical locations, supporting the development of both conventional private residential units and long-stay Serviced Apartments (SA2), to cater to both owner-occupation and rental housing demand.
 
4,010 private housing units across 7 private residential and 1 white site, and 735 Executive Condominium (EC) units in one EC project, will be launched via the Confirmed List in 2H2026. The white site at Town Hall Link, which was carved out from the original Jurong Lake District (JLD) tender and introduced in the Reserve List in 1H 2026, has been brought into Confirmed List, which will once again test the appetite from developers to initiate the second CBD. The conditions appear to remain the same from 1H 2026, which has raised the residential quota to 1,200 units from the 600 units in JLD in 2H 2025. 

There appear to be no changes to the SA2 requirements and the SA2 sites remain in the Reserve List. The Cross Street site and Media Circle sites maintained the quota of 315 and 520 SA2 units respectively, while the hotel site in Telok Ayer also maintained its partial SA2 requirement at 135 units. This kept the SA2 provision at 970 SA2 units that could be built, all via the Reserve List, and could be triggered if there is demand.  

Following the recent EC policy changes, which included the extension of Minimum Occupation Period (MOP) from 5 to 10 years, the increase in quota for first-time buyers from 70% to 90%, and the Removal of Deferred Payment Scheme (DPS), the 2H 2026 GLS has only one EC site. The site is on the Confirmed List and is located at the former Shuqun Secondary School site at Jurong East Avenue 1, which can yield 735 units. This is still an increase from the 635 units across two smaller EC sites in 1H 2026 GLS at Canberra Drive and Sembawang Drive. 

Excluding the 735 EC units, the 2H 2026 GLS Confirmed List comprises 4,010 private homes, higher than the 3,940 private homes in the 1H 2026 Confirmed List. This implies approximately 8,000 units on an annualised basis, which is lower than the 10,815 developer sales recorded in 2025 (excluding ECs), but similar to the 5-year (2021-2025) average of 8,766 units. This should provide ample future land banking opportunities for developers, who can also trigger the Reserve List sites should they deem that demand is stronger.  


Source: CBRE Research, MND. Resi: Residential. CL: Confirmed List. RL: Reserve List.

JLD 2.0 Townhall Link moved to Confirmed List

To advance the development of Jurong Lake District (JLD) and cater to medium-term office demand, the White site at Town Hall Link will be launched for tender in July 2026 under the 2H2026 Confirmed List, following its non-trigger for sale under the Reserve List in 1H 2026. In late 2025, the former JLD master developer white site has been carved out into the Town Hall Link site. It is about half the original size and has a total potential yield of 186,000 sqm. This includes a minimum of 40,000 sqm of office space, up to 1,200 private residential units, and 44,000 sqm GFA for complementary uses such as retail, hotel and community uses.

Location Plan for the White Site at Town Hall Link

Source: MND

We believe this shows that the Government remains committed to developing JLD as the largest mixed-use business district outside the city centre and a model sustainable district that integrates business, residential and recreational spaces, despite 2024’s failed tender for the master developer site. 

In 2024, after a concept-price tender process with only two bids from one bidder group received, the final offer price of $640 psf ppr from the consortium of five major developers (CapitaLand Development, City Developments Ltd, Frasers Property, Mitsubishi Estate and Mitsui Fudosan Asia) was deemed too low, and the tender was not awarded. The outcome reflected generally cautious market sentiment amid high financing costs and global economic uncertainties then. Developers were also concerned about the significant scale of the project, which entails multi-year development risks and substantial capital outlay. The winning party would additionally be responsible for district-wide infrastructure, including a district cooling system and pneumatic waste conveyancing, further increasing development costs.

We believe the carved-out smaller parcel should attract better interest. At roughly half the size of the previous Master Developer site, the reduced scale as well as a doubling of the number of residential units that could be pre-sold, should ease upfront capital commitment and mitigate development risks. This signals greater flexibility and responsiveness to earlier market feedback gathered from extensive engagements of industry stakeholders. The government will undertake some of the infrastructure requirements which should also provide some relief to the developer. Some government agencies are also studying plans to move their offices to JLD. 

Future transport enhancements, including the Jurong Region Line (2028) and Cross-Island Line (2032), will further enhance accessibility and improve the site’s appeal for both businesses and residents. 

The tender will test the appetite of developers for a major office development outside the CBD. While there has been buoyant investment activity in the office sector in the first four months of 2026, it has been concentrated in prime CBD office assets. It remains to be seen if the confidence spills over to decentralised locations. 

The former Raffles Town Club site launched

We note the former Raffles Town Club will be placed on the Reserve List, likely as a Residential with first storey commercial, yielding 250 dwelling units and a retail cap of 2,500 sqm.

Which are the most attractive new sites on GLS 2H 2026? 

The 2H 2026 GLS offers a good mix of sites across all market segments, with the second or third site in the Holland Plain, Orchard Boulevard, Marina Gardens, Chuan Grove, Berlayar/Greater Southern Waterfront precinct. 

There are 8 residential sites on the Confirmed List, of which 7 are new, and 1 was carried over from 1H 2026’s Reserve List – Marina Gardens Lane. Among the new sites, we find the most attractive sites to be the following.

Most attractive sites:

1. Orchard Boulevard (110 units)

• Palatable size
• Walking distance from Orchard Boulevard (370m) and Orchard MRT (550m)
• In the heart of town within the prestigious Orchard district
• Ample lifestyle and retail amenities along the Orchard Road shopping belt
• Popular primary schools River Valley Primary and Singapore Chinese Girls’ Primary located within a 2km radius
• Last new launch at Upperhouse at Orchard Boulevard (301 units) saw healthy performance, moving 162 units (54%) at an average price of $3,350 psf over its launch weekend in Jul 2025. Based on Realis caveats as of today, 240 units or 80% of the project has been sold as of mid-May 2026.

 

2. Tanjong Rhu Close (505 units)

• Overlooking East Coast Park/Beach, could offer unblocked sea views
• In a well-regarded enclave known for exclusivity, near to the CBD, park connectors to Marina Bay, and a vibrant Kallang sports precinct.
• Near Dunman High School and of close proximity to EtonHouse pre-school
• Equidistant from Katong Park and Tanjong Rhu MRT on the TEL about 700m or 10-min walk
• Last site Tanjong Rhu Road (525 units) located in front of the site awarded in Feb 2026 to a joint venture between CDL and Woh Hup garnered a strong response during its tender close, receiving 5 bids and a top bid price of $1,455 psf ppr, the record land rate for a pure residential RCR site, surpassing the previous record of $1,360 psf ppr set by Lorong 1 Toa Payoh.

 

3. East Coast Road (85 units)

• Palatable size
• Many popular schools within a 2km radius including Tao Nan school and CHIJ (Katong) Primary. Ngee Ann, Opera Estate Primary School and St. Stephen’s School within a 1km radius. Near Victoria School and Victoria Junior College.
• Located in a well-regarded low-density precinct known for privacy and a vibrant dining scene with a relaxed neighbourhood charm
• 6 years since the last new launch in the vicinity, 77 @ East Coast (41 units) launched in Mar 2020. Could see downgrader demand from nearby Frankel landed estate 
  

Event and details

The Government has announced the GLS Programme for 1H2026. Comprising nine Confirmed List sites and 12 Reserve List sites, the Programme can yield 9,185 private residential units, 209,150 sqm gross floor area (GFA) of commercial space and 970 hotel rooms.

The Confirmed List, which comprises eight private residential sites and one Commercial & Residential site, can yield 4,575 private residential units (including 635 EC units) and 22,500 sqm GFA of commercial space.

The Reserve List includes six private residential sites, one commercial site, three White sites and two hotel sites, which can potentially yield an additional 4,610 private residential units, 186,650 sqm GFA of commercial space, and 970 hotel rooms.

The Government will continue to closely monitor economic and property market conditions, and adjust the GLS programme as necessary to meet Singapore’s housing, commercial and hospitality needs.

Read the URA press release here.

 

PROPOSED RESIDENTIAL, COMMERCIAL AND HOTEL SITES FOR 1H2026 GLS PROGRAMME

S/N	Location	Site Area (ha)	Proposed GPR	Estimated No. of Residential Units (1)	Estimated No. of Hotel Rooms	Estimated Commercial Space (m2)	Estimated Launch Date	Sales Agent
Confirmed List
Residential Sites
1	Marina Gardens Lane(2)	0.60	5.6	390	0	150	Aug-2026	URA
2	Orchard Boulevard(3)	0.34	2.8	110	0	0	Aug-2026	URA
3	East Coast Road(3)(4)	0.55	1.6	85	0	0	Sep-2026	URA
4	De Souza Avenue(3)	2.22	1.6	415	0	0	Nov-2026	URA
5	Tanjong Rhu Close(3)	1.23	3.5	505	0	0	Nov-2026	URA
6	Berlayar Close(3)	2.82	2.1	695	0	0	Dec-2026	URA
7	Holland Plain(3)(5)	3.42	1.8	610	0	0	Dec-2026	URA
8	Jurong East Avenue 1 (EC)(3)(6)	1.49	5.0	735	0	0	Dec-2026	HDB
White Sites
9	Town Hall Link(7)	3.72	5.0	1,200	0	83,200	Jul-2026	URA
	Total (Confirmed List)			4,745	0	83,350

 

S/N	Location	Site Area (ha)	Proposed GPR	Estimated No. of Residential Units (1)	Estimated No. of Hotel Rooms	Estimated Commercial Space (m2)	Estimated Available Date (16)	Sales Agent
Reserve List
Residential Sites
S/N	Location	Site Area (ha)	Proposed GPR	Estimated No. of Residential Units (1)	Estimated No. of Hotel Rooms	Estimated Commercial Space (m2)	Estimated Available Date (18)	Sales Agent
1	Cross Street(8)	0.23	6.3	315	0	500	Available	URA
2	Media Circle(9)	0.57	4.2	520	0	400	Available	URA
3	Media Circle (Parcel B)(10)	1.00	4.3	500	0	400	Available	URA
4	Morrison Lane(11)	0.66	2.8	205	0	500	Available	URA
5	Kitchener Link	0.42	3.0	145	0	0	Jun-2026	URA
6	Serangoon North View(3)	0.80	2.5	235	0	0	Sep-2026	URA
7	Chuan Grove(3)	3.18	2.5	935	0	0	Oct-2026	URA
8	Plymouth Avenue/Dunearn Road (3)(12)	1.14	2.1	250	0	2,500	Oct-2026	URA
Commercial Sites
9	Punggol Walk(13)	1.00	1.4	0	0	13,350	Available	URA
White Sites
10	Marina Gardens Crescent(14)	1.73	4.2	775	0	6,000	Available	URA
11	Woodlands Avenue 2(15)	2.75	4.2	440	0	78,000	Available	URA
Hotel Sites
11	River Valley Road(16)	1.02	2.8	0	530	2,000	Available	URA
12	Telok Ayer Street(17)	0.41	7.0	135	440	1,100	Available	URA
	Total (Reserve List)			4,455	970	104,750
	Total (Confirmed List and Reserve List)			9,200	970	188,100

(1) The estimated number of dwelling units (DU) for Executive Condominium (EC) and private residential sites take into account the average unit sizes of recent comparable developments and prevailing Development Control guidelines.
(2) Site is imposed with a retail cap of 150 sqm GFA.
(3) New sites introduced in 2H2026.
(4) Site is stipulated with minimum average DU size of 100 sqm as it is located within an area with traffic issue.
(5) Site is imposed with DU cap of 610 residential units and a minimum 700 sqm GFA for childcare centre.
(6) Site is imposed with a minimum 750 sqm GFA for childcare centre.
(7) Site is imposed with a minimum office quantum of 40,000 sqm GFA, a minimum 800 sqm GFA for childcare centre and a maximum residential quantum for flats development of 102,000 sqm GFA.
(8) Site is predominantly for long-stay Serviced Apartments use and imposed with a minimum commercial quantum of 500 sqm GFA.
(9) Site is predominantly for long-stay Serviced Apartments use and imposed with a retail cap of 400 sqm GFA.
(10) Site is imposed with a retail cap of 400 sqm GFA.
(11) Site is imposed with a minimum commercial quantum of 500 sqm GFA and a minimum 500 sqm GFA for childcare centre.
(12) Site is imposed with a retail cap of 2,500 sqm GFA.
(13) Site is imposed with a minimum office quantum of 8,400 sqm GFA and a minimum 650 sqm GFA for childcare centre.
(14) Site is imposed with a retail cap of 6,000 sqm GFA and a minimum 500 sqm GFA for childcare centre.
(15) Site is imposed with a retail cap of 33,000 sqm GFA and a minimum office quantum of 45,000 sqm GFA.
(16) Site is imposed with a retail cap of 2,000 sqm GFA.
(17) Site is imposed with a minimum long-stay Serviced Apartments quantum of 6,200 sqm GFA.
(18) Refers to estimated date the detailed conditions of sale will be available and applications can be submitted.