Some 2,781 unsold residential units were included in the land bank of Sim Lian Group, which holds the highest number of unsold homes from government land sales sites it acquired in 2010 and 2011, according to a Knight Frank report.
It added that Sim Lian’s portfolio has 660 executive condo (EC) units, 1,441 private homes and 680 HDB flats that will be released for sale under the design, build and sell scheme (DBSS).
In second place was City Developments, which has 1,060 EC units and 211 private homes left from GLS sites it acquired from 2010 onwards.
Five other developers — Hong Leong Group, United Engineers, MCL Land, Far East Organization and Chip Eng Seng — have over 800 unsold units from GLS sites purchased in the past 17 months.
Knight Frank noted that the developers are expected to increase their land banks in the second half of 2011, as the government is likely to roll out another abundant supply of housing sites under its bi-annual GLS programme.
“We expect a significant new supply of private housing for the H2 2011 GLS programme to meet demand,” said Png Poh Soon, Head of Consultancy and Research at Knight Frank.
More new EC sites could be released, following the robust take-up witnessed for recent EC launches, including Esparina Residences, Prive and The Canopy.
“Developers with a sizeable number of mass market homes in their land banks are likely to be more selective. Some may choose to offload their existing land banks before acquiring new sites, creating a window of opportunity for others,” Mr. Png said.
Similarly, Savills Singapore believes that demand for mass market homes can be expected to remain strong in the coming months.
“With more mass market launches coming on stream, the fresh infusion of housing would bring more attractively priced units onto the market,” it said in a report.
To contact the journalist, you may send your message to editor@propertyguru.com.sg