{"id":103749,"date":"2019-02-07T12:11:24","date_gmt":"2019-02-07T05:11:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mega-transport-projects-to-propel-construction-industry-growth\/"},"modified":"2019-02-07T13:06:03","modified_gmt":"2019-02-07T06:06:03","slug":"mega-transport-projects-to-propel-construction-industry-growth","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mega-transport-projects-to-propel-construction-industry-growth\/","title":{"rendered":"Mega transport projects to propel construction industry growth"},"content":{"rendered":"


\nConstruction of new train lines, a huge road network as well as a mega port will drive the local construction industry in the next decade.\u00a0
\nSingapore\u2019s construction sector is expected to grow by 3.3 percent on average from 2019 to 2028, driven mainly by various transport mega projects, according to a recent report from Fitch Solutions.
\nFor instance, the MRT network will undergo further expansion over the next decade due to the government\u2019s vision that at least 80 percent of all households here should be within a 10-minute walk to a train station.
\nThe expansion involves the construction of two new rail lines \u2013 the fully elevated 24km Jurong Region Line and the fully underground 50km Cross Island Line, which will connect Singapore\u2019s Changi Airport and the planned High Speed Rail (HSR) station in Jurong East.
\nSearch for\u00a0properties for sale\u00a0near future MRT stations on the Cross Island Line.
\n\u201cConstruction for these projects will be segmented into multiple stages, and construction will commence in 2019, and will be completed progressively from 2026 to 2030. Given the government\u2019s long expertise in planning and execution of metro projects in Singapore, we believe execution will be smooth and delays will be minimal,\u201d the report said.
\nMoreover, construction is set to start on the 21.5km North-South Corridor expressway, which is touted as Singapore\u2019s biggest road project over the next decade.
\n\u201cWith an estimated value of $8 billion, the expressway will encompass a series of viaducts, at-grade roads and tunnels that will connect residential and industrial estates in the north to the Central Business District (CBD) in the south.\u201d
\nTo strengthen Singapore\u2019s status as a regional aviation hub, the government is also preparing for the construction of the $10 billion Changi Airport Terminal 5, which is projected to increase passenger capacity by 50 million people per annum.
\n\u201cWorks relating to land reclamation and the construction of a third runway are currently underway and construction of the new terminal and the associated infrastructure is scheduled to begin from 2020,\u201d noted Fitch Solutions.
\n\u201cIn addition, provisions have been made for the extension of the Thomson-East Coast and Cross Island Lines to connect to the new terminal, and we expect detailed plans regarding these rail projects to be announced in a few years\u2019 time.\u201d
\nFurthermore, the ongoing Tuas Mega Port project is expected to boost Singapore\u2019s reputation as a vital transhipment hub in the world, it added.
\nExpected to be operational by 2026 onwards, the port is being built in four phases, with the first stage already crossing the halfway mark as of 2018. Phase II, which is valued at $1.46 billion, has already been awarded, but Phase III and IV are still under planning. When fully completed, Tuas Mega Port could handle 65 million twenty-foot equivalent units (TEUs), which is more than double Singapore\u2019s overall capacity in 2017.
\nInterested in buying a private property near the future transport hubs? Check out our\u00a0step-by-step guide to buying a condo.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Mega transport projects to propel construction industry growth<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Construction of new train lines, a huge road network as well as a mega port...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-103749","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qZn","jetpack-related-posts":[{"id":114746,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-to-invest-60bil-for-renewal-and-expansion-of-rail-network\/","url_meta":{"origin":103749,"position":0},"title":"Gov\u2019t to invest $60bil for renewal and expansion of rail network","date":"March 6, 2020","format":false,"excerpt":"\r These include the completion of the Thomson-East Coast Line, construction of Jurong Region Line and Cross Island Line (first phrase) as well as the renewal for both East-West and North-South MRT Lines.\u00a0 After experiencing several high-profile rail operations disruptions, the government will invest over $60 billion in the renewal\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-100000-jobs-20000-homes-to-be-created-in-jurong\/","url_meta":{"origin":103749,"position":1},"title":"Over 100,000 jobs, 20,000 homes to be created in Jurong","date":"October 1, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the future Jurong Lake District. While Jurong may be considered ulu among some home buyers, Singapore\u2019s industrial heartland is set to become a more vibrant and attractive neighbourhood to live in, according to PropertyGuru AreaInsider. There are various factors contributing to the bright outlook, but three\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-reasons-why-scrapping-the-hsr-project-may-be-bad-for-jurong\/","url_meta":{"origin":103749,"position":2},"title":"3 reasons why scrapping the HSR project may be bad for Jurong","date":"May 30, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the HSR terminus in Jurong East. The growth prospects of Jurong\u2019s property market may have dimmed after Malaysia\u2019s new Prime Minister Dr Mahathir Mohamad on Monday (28 May) said a \u201cfinal decision\u201d was made to scrap the Kuala Lumpur-Singapore High Speed Rail (HSR) project. Both countries\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/05\/Jurong-Lake-District.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":114097,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurong-region-line-to-test-first-train-in-2024\/","url_meta":{"origin":103749,"position":3},"title":"Jurong Region Line to test first train in 2024","date":"February 7, 2020","format":false,"excerpt":"\r Hyundai Rotem Company (HRC) will be supplying the trains. Set to start operations in 2026, the Jurong Region Line (JRL) will feature a total of 62, three-car trains. South Korea\u2019s Hyundai Rotem Company (HRC) has been awarded the $416.5 million contract for the supply of such trains. \u201cThis is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lta-awards-four-jurong-region-line-contracts-worth-682-5mil\/","url_meta":{"origin":103749,"position":4},"title":"LTA awards four Jurong Region Line contracts worth $682.5mil","date":"July 20, 2020","format":false,"excerpt":"\r The four contracts include the design and construction of three JRL stations, signalling system and half-height platform screen doors and integrated supervisory control and communications systems.\u00a0 Four contracts totalling $682.5 million for three Jurong Region Line (JRL) MRT stations were awarded by The Land Transport Authority (LTA) on 17\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97424,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurong-property-prices-not-affected-by-high-speed-rail-delay\/","url_meta":{"origin":103749,"position":5},"title":"Jurong property prices not affected by High Speed Rail delay","date":"September 7, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the HSR terminus in Jurong East. Market experts do not expect the deferment of the Kuala Lumpur-Singapore High Speed Rail (HSR) project to significantly affect property prices within the Jurong area, reported the New Paper. This comes as the HSR only forms part of the blueprint\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/103749"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=103749"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/103749\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=103749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=103749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=103749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}