This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
The Urban Redevelopment Authority (URA) has released a residential site at Zion Road (Parcel B) for sale today under the Reserve List of the first half 2024 (1H2024) Government Land Sales (GLS) Programme.
Reflecting continued market interest in GLS sites, this site received a successful application from a developer for tender launch, with a commitment to submit a bid not lower than a minimum bid price of $604,567,890 in the tender. The successful application follows the award of five GLS residential sites in the year to date, including the adjacent site at Zion Road (Parcel A) last month.
To cater to demand, the Government has increased the Confirmed List supply of private housing in the GLS programme to 5,450 units in 1H2024, from 4,090 units in 1H2023 and 5,160 units in 2H2023. This is the highest supply on the Confirmed List in a single GLS Programme since the 2H2013 GLS Programme. In addition, the Government has made available a total supply of 3,460 residential units in the Reserve List of the 1H2024 GLS programme, to allow developers to activate more sites for tender launch if they assess that there is demand.
Details on the land parcel can be found inAnnex 1.
Other Details The tender for the Zion Road (Parcel B) site will close at 12 noon on 18 July 2024.
The tender closing for this site will be batched with the two residential sites at Canberra Crescent and De Souza Avenue, which were launched on 16 April 2024 under the Confirmed List of the 1H2024 GLS Programme. Any tender below the minimum bid price of $604,567,890 will not be accepted. More details on the land parcel are available on the URA website at