Procedure for Reserve List System
Here are procedures on how a developer can submit an application.
Releasing Reserve List sites for sale
A site on the Reserve List System would only be put up for sale if the indicated minimum price in your application is acceptable to the Government.
The Government will consider launching a Reserve List site for sale if it has received sufficient market interest for the site. A site is deemed to have received sufficient market interest if more than 1 unrelated party submit minimum prices that are close to the Government’s Reserve Price for the site within a reasonable period.
Application for Reserve List sites
An application to the Government for a site on the Reserve List to be put up for sale by public tender must be submitted in the prescribed form (PDF, 18KB) via a sealed envelope to the land sales agency. In your application, you need to indicate the minimum price that you are willing to bid for if the site is put up for tender.
Enclose the completed form in a sealed envelope with a label as shown in Annex 2 (PDF, 22KB) and forward it to:
Director (Land Administration)
c/o The Procurement Office
Basement 1 West Wing
HDB HUB 480 Lorong 6 Toa Payoh
Housing & Development Board
Currently, you do not need to pay any application fees. However, if there is any misuse of the system (e.g. repeated frivolous applications), we may introduce application fees or other appropriate measures. You will be informed of your application’s outcome within 2 weeks.
Your application will be accepted if it meets these conditions:
- The minimum price is assessed to be acceptable
- You are not disqualified from participating in land sales tenders
On acceptance of the application, you will be advised to execute an agreement (PDF, 64KB) to submit a tender price not less than the minimum price stated in his application and to pay a deposit of 3% of the minimum price by a cashier’s order, banker's guarantee (PDF, 7KB) or by bank transfer within a period of 2 weeks. If you fail to do so, the acceptance of the application will lapse and no further action will be taken on the application. If 3% of the minimum price exceeds $5 million, the deposit payable will be $5 million.
Tender for a Reserve List site
An application for a site on the Reserve List to be put up for tender should be made only if there is serious intent on your part to trigger the Government's supply of the site to the market and if the application is accepted, to submit a tender for the site at the minimum price stated in your application.
If a successful applicant fails, for reasons unacceptable to the Government, to execute the agreement and pay the deposit mentioned above within the 2 weeks or within the extended time stipulated, the applicant may be required to fulfil additional conditions before any future applications will be considered by the Government. If the applicant is a partnership or company, any future application by a partner or director of the applicant will also be subject to additional conditions. The identity of the applicant will not be disclosed to the public.
Under the agreement, the Government will launch the site for tender within 6 weeks from the date of signing the agreement. Otherwise, the agreement will lapse and the deposit will be refunded to you. In practice, the land sales agency will usually launch the site for sale within 2 weeks. While most sites have a tender period of 4 weeks (i.e. the tender will close 4 weeks after the launch), large and complicated sites will have a longer tender period. For most sites, the actual interval between the signing of the agreement and the tender closing will be about 6 weeks.
Under the agreement, if you fail to submit a bid in the tender, put in an invalid bid or bid below the submitted bid price, your deposit will be forfeited.
If you are a successful applicant, you can submit a tender price higher than the minimum price in the tender. You are also allowed to use the deposit for the agreement as part of payment of the tender deposit. This is also applicable for joint tenders. If you put in a bid in accordance with the agreement, but is not the highest bidder in the tender, your deposit will be refunded.