Developers eyeing to complete 19,907 units in 2014

Including executive condo projects.

According to the latest release by the Urban Redevelopment Authority, based on expected completion dates reported by developers, 19,907 units (including ECs) will be completed in 2014. Another 24,153 units (including ECs) are expected to be completed in 2015. In comparison, about 14,400 units were completed in 2013.

As at the end of 4th Quarter 2013, there was a total supply of 83,702 uncompleted private residential units in the pipeline, compared to 84,917 units in 3rd Quarter 2013. There was an additional supply of 14,040 EC units in the pipeline.

Of this number, 30,819 units remained unsold as at 4th Quarter 2013. There was an additional supply of 14,040 EC units in the pipeline. Altogether, there were 97,742 units in the pipeline supply.

In addition, another 10,940 units will soon be added to the pipeline supply. These units are from Government Land Sales (GLS) sites that had been awarded to developers, but for which planning approvals had not yet been obtained as at 4th Quarter 2013; Confirmed List sites from the 2H2013 and 1H2014 GLS Programmes that had not yet been awarded; and one Reserve List site that has been triggered but not yet awarded. If these units were included, there were about 108,700 private housing and EC units in the overall pipeline supply.

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