Monday, August 4, 2008

Er...What Is Confirmed List System?

Source : The Sunday Times, Aug 3, 2008

Where do you see this?

In articles about property and Government announcements on the sale of land.

What does it mean?

It is a method of selling land that the Government employs.

Sites on the confirmed list are for outright sale, meaning they will be tendered out on scheduled dates, regardless of whether developers have indicated interest.

Why is it important?

This is not a market-driven approach. But it allows the Government to hasten the development of certain sites for planning and other strategic reasons.

For instance, in its land sales programme for the second half of the year, it offered a 3ha hotel site at Bukit Chermin Road under the confirmed list.

The sale of the site, it said, is timed to coincide with the 2011 completion of Labrador Nature and Coastal Walk nearby. Together, these developments will enhance the attractiveness of the area as a premier leisure and recreation destination.

The Government also offered a site in Stamford Road comprising the existing Capitol Theatre, Capitol Building, Stamford House and Capitol Centre.

So you want to use the term? Just say...

'The Stamford Road site with the conserved Capitol Theatre is on the latest confirmed list. That means it should be sold soon. When it is restored, the area will become more vibrant.'

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