Singapore will hold a general election on May 7, the government announced on Tuesday.

"The returning officer (Yam Ah Mee) has declared that Saturday, 7 May 2011 is a polling day," the government said in a statement.

The announcement came shortly after President S. R. Nathan dissolved the parliament earlier in the day and announced that April 27 will be the nomination day.

Some 2.35 million voters are eligible to vote, and six key political parties will be contesting the polls for 87 wards, including 12 single member constituencies and 15 group representation constituencies. The group constituencies require the contesting parties to field teams of candidates.

There will be three more seats than the 84 in the last general election in 2006.

The ruling People's Action Party (PAP) has ruled the country in more than four decades since its independence and now has 82 of the 84 seats in the last general election.

The political parties in Singapore has unveiled their new candidates recently, with the ruling PAP introducing 24 new candidates that include several potential office holders. Some of the opposition parties have also unveiled their candidates, manifestos and campaign slogans.