2025 GLS Programme at a Glance
The government continues its strategy of high supply to ensure market stability.
Total Potential Supply
17,705
Combined units from Confirmed and Reserve Lists, the highest since 2014.
Confirmed List Units
9,755
A calibrated high volume to meet housing demand and moderate prices.
EC Units on Confirmed List
~2,000
A record surge to address affordability and cool the EC land market.
Supply Dynamics: A Balancing Act
Visualizing the government's strategy of moderating confirmed supply while empowering the market-driven Reserve List.
GLS Confirmed List Supply (2023-2025)
The 2025 programme sustains a high supply pipeline but shows a slight moderation from the 2024 peak, signaling a pragmatic response to market conditions and developer caution.
Confirmed vs. Reserve List Units (2025)
A strategic pivot is evident in H2 2025, with the Reserve List expanded to act as a market-responsive buffer, placing the onus on developers to trigger land sales.
A Tale of Three Sites: The June 2025 Launch
These three bellwether sites encapsulate the key themes of 2025: city-fringe demand, policy pragmatism, and long-term strategic vision.
Dorset Road
The Safe Bet
425
Units
Considered a straightforward development in a mature city-fringe location with proven demand, addressing a gap for larger, full-facility condos.
Strengths
- Proven demand (Piccadilly Grand success)
- Near Farrer Park MRT
- Rich amenities (City Square Mall)
Risks
- Potential competition from other RCR sites
Upper Thomson Rd (A)
The Second Chance
595
Units
A relaunch significantly de-risked by the removal of the mandatory Serviced Apartment (SA2) component after the initial tender failed, showing government flexibility.
Strengths
- Directly above Springleaf MRT
- SA2 component removed
- Commercial space adds needed amenities
Risks
- High supply from nearby Lentor precinct
- Competition from adjacent Parcel B
Telok Blangah Road
The Visionary Play
745
Units
A landmark site offering a rare "first-mover" advantage in the nascent Greater Southern Waterfront (GSW), one of Singapore's most ambitious urban projects.
Strengths
- First mover in the GSW
- Strong connectivity (Telok Blangah MRT)
- Proximity to nature (Southern Ridges)
Risks
- Uncertainty of future GSW master plan
- Risk of future, superior sites being released
Forecasted Top Bids (psf ppr)
Analyst forecasts reflect the perceived risk and potential of each site. The landmark Telok Blangah site commands a premium, while bidding for the de-risked but competitive Upper Thomson plot is expected to be more conservative.
The Developer's Trilemma
Developer sentiment is cautious, shaped by three conflicting pressures that lead to a "flight to safety".
High Cost Pressure
Stubbornly high construction costs and stable land prices create a high break-even point for new projects.
Price-Sensitive Buyers
A high volume of supply gives buyers abundant choice, making them highly sensitive to price and overall quantum.
ABSD Deadline Pressure
The requirement to sell all units within 5 years or face a punitive 35% levy on land price forces extreme risk aversion, especially for larger sites.
2H 2025 Site Attractiveness: A Risk-Reward Matrix
Developers are prioritizing "safe bets." This bubble chart plots key H2 2025 sites by their perceived risk and strategic value. Sites in the top-left quadrant (Low Risk, High Value) are most attractive.
Building Future Singapore
The GLS programme is the primary tool for executing long-term urban transformation.
Greater Southern Waterfront
A New Coastal City
9,000
New homes planned for the former Keppel Golf Course area, the first phase of a multi-decade project to reshape Singapore's southern coastline.
Bukit Timah Turf City
A Vision for Community
20,000
Potential new homes in a comprehensively redeveloped precinct, creating a major new housing estate in a prime central location.