Singapore to sell more land for residential projects in H1 2011
SINGAPORE Nov 25 (Reuters) - The Singapore government said on Thursday it will increase the supply of land for residential development in the first half of 2011, as it tries to cool the housing market.
It said its first half 2011 land sales programme will have a total of 30 sites available for residential development that can generate about 14,300 private residential units. This is higher than the land for 13,900 units offered in the second half of 2010.
The first half 2011 programme has 17 confirmed sites for sale and 13 reserve sites which the government will release if it receives bids from developers.
The large amount of land available for sale is "to maintain a strong supply of private housing to meet demand", the Ministry of National Development said in a statement. (Reporting by Kevin Lim; Editing by Anshuman Daga)
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