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CORRECTED-Singapore cuts supply in first-half 2016 land sales programme
December 17, 2015 / 2:25 AM / 2 years ago

CORRECTED-Singapore cuts supply in first-half 2016 land sales programme

(Corrects first paragraph to remove attribution of subdued property prices to ministry)

SINGAPORE, Dec 17 (Reuters) - The Singapore government has cut the amount of land it plans to sell in the first half of next year, the Ministry of National Development said in a statement, as property prices remain subdued.

Its revised programme will comprise four sites on the confirmed list, which will be launched for sale on set dates, and 12 sites on the reserve list, which will be put up for tender when a developer has offered an acceptable price.

Together, the sites can accommodate up to 7,420 homes and 272,600 square metres (sqm) of commercial space.

The announced sales programme is down from second half of 2015, in which a land area that could support a potential 7,825 homes and 277,580 sqm of commercial space was offered. (Reporting By Aradhana Aravindan; Editing by Eric Meijer)

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