Channel NewsAsia - Saturday, May 24
SINGAPORE : Kallang and Paya Lebar will be developed into new commercial hubs, just like the Jurong Lake District. This is part of the government’s Draft Master Plan, which charts land use over the next 10 to 15 years.
Marina Bay and the city centre will continue to be the key commercial node in Singapore. New growth areas like Tanjong Pagar, Beach Road and the Ophir—Rochor corridor will also be developed.
However, more commercial hubs will be needed outside the city, to offer alternatives to businesses and bring jobs closer to homes.
One regional centre will be in Paya Lebar. About 12 hectares of land are available for development, and half a million square metres will be set aside for office, hotel and retail spaces.
The Urban Redevelopment Authority (URA) said at least 1,400 hotel rooms can be built in the area. And in the near future, residents will be able to shop and dine by the Geylang riverfront.
National Development Minister Mah Bow Tan said: "When the Marina Barrage is completed some time later this year, we will be able to stabilise the water levels in Geylang River.
"Around the Geylang River area, we will be able to integrate very attractive public spaces, malls and so on. The plan is to realign the Geylang River so that it runs through the new commercial developments."
The proposals will build on the area’s distinctive Malay identity, so there will be a new Geylang Serai Market and Civic Centre. The Civic Centre will house a Community Club, community development offices and even a library.
More activities and bazaars can also be staged at a new plaza, next to the upcoming Paya Lebar MRT interchange.
As for Kallang Riverside, it has been earmarked as the next lifestyle precinct. Urban planners said new parks, waterfront residences and recreational spaces can be developed at the 64—hectare area.
About 600,000 square metres of land will also be devoted to commercial use, with 3,000 new hotel rooms in the pipeline.
About 4,000 waterfront homes have been planned for the area. And the new properties will have a variety of storey heights, stepping down towards the waterfront. This will allow those living further inland to also enjoy the views of the waterfront.
Parts of the historic Kallang Airport will also be conserved and redeveloped into a new entertainment and retail attraction. Also in the works are an integrated second—storey linkway to connect Kallang MRT station to the Old Airport Square and the future Sports Hub.
All in, URA said there are plans to add 327,200 new homes around the island over the next 15 years.
Members of the public can send their feedback on the Draft Master Plan through the URA website.
The Master Plan 2008 will be gazetted after incorporating views from the public at the Draft Master Plan exhibition at the URA Centre. — CNA/ms
Channel NewsAsia - Saturday, May 24
SINGAPORE : Industry players are upbeat about the plans for two new commercial hubs, noting that both Kallang and Paya Lebar have great potential for growth, given their close proximity to the city.
However, they said the timing of the various projects will have to be calibrated carefully, so as not to place additional strain on the construction sector.
In the next 15 years, Singapore will have three new commercial hubs. Jurong Lake District, Paya Lebar Central and Kallang Riverside will cost billions of dollars to develop.
According to the National Development Minister, Mah Bow Tan, one or two sites in these new regional centres will be released for sale fairly soon. But market demand will mostly dictate the pace of the developments.
Industry players warn against over—developing and easing plot ratios, which they said could trigger another wave of en—bloc sales.
Simon Cheong, President, Real Estate Developers’ Association of Singapore, said: "We are one of the highest in the world — higher than Dubai, Tokyo, Sydney, New York and Hong Kong — in terms of construction costs. By not increasing the plot ratio, I think the government is giving some relief to the construction industry."
The government has already announced that it will defer some S$3 billion worth of public sector projects. Other projects may also join the list.
Mr Mah said: "I’ve asked the public agencies to consider deferring more projects if necessary. It makes good sense, (with) construction cost being so high, you won’t get as much value for money.
"It also helps to even out the cycles — when construction demand in other areas goes down, this is one way for us to even out the cycle."
Some infrastructural works have already started at the Jurong Lake District, which is being transformed into a regional centre for the western part of Singapore. — CNA/ms