{"id":105791,"date":"2019-04-05T11:14:38","date_gmt":"2019-04-05T04:14:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-wants-people-to-live-work-and-play-in-one-place\/"},"modified":"2019-04-05T13:03:14","modified_gmt":"2019-04-05T06:03:14","slug":"singapore-wants-people-to-live-work-and-play-in-one-place","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-wants-people-to-live-work-and-play-in-one-place\/","title":{"rendered":"Singapore wants people to live, work and play in one place"},"content":{"rendered":"


\nThis comes as the financial district is bustling by day, but is close to deserted by night and over weekends.
\nThe Singapore government hopes to transform the central business district into a place where people can live, work and play.
\nThis comes as the financial district is bustling by day, but is close to deserted by night and over weekends, reported Bloomberg.
\nLooking for a property in Downtown Singapore?\u00a0Find an agent\u00a0to take the hassle out of your home search.\u00a0
\nUnder the URA Draft Master Plan 2019, the government is encouraging firms to convert existing office space to residential developments and hotels. Buildings will also be allowed to have higher plot ratios, which means more subdivisions of floor space.
\n\u201cUrban regeneration is a journey that Singapore needs to take to emulate the success of cosmopolitan hubs like Manhattan, London and Shanghai,\u201d noted Moray Armstrong, managing director of CBRE in Singapore.
\n\u201cWe\u2019re excited that some of the older buildings are now part of the plans to revitalize the CBD,\u201d he said, adding that allowing developers to breathe new life into their old office stock will unlock a lot of value.
\nTransforming office buildings into hotels will also help alleviate the shortage within the hospitality sector given that the current pipeline of hotel rooms is not expected to meet the forecasted increase in tourists.
\nThe URA Draft Master Plan 2019 also includes a proposal to bring facilities such as storage and utilities underground in a bid to free up more space for living. The number of green spaces such as parks and park connectors will also be increased. In fact, the government aims to have over 90 percent of households within walking distance of a park.
\nThe move to have more residential developments does not mean that Singapore\u2019s CBD is devoid of any apartment living. In fact, the Marina Bay financial district comes with luxury apartments such as The Sail and Marina Bay which was built seven years ago. Other projects in the vicinity like V on Shenton and One Shenton Way feature bars, retail stores and restaurants at their base.
\nHowever, Christine Li, head of research for Singapore at Cushman & Wakefield, shared that families shun these neighbourhoods \u201cdue to the lack of amenities, childcare and school options for young children. The target pool of residents remains mostly expatriates, singles and dual income no-kids couples\u201d.
\nCheck out PropertyGuru\u2019s\u00a0properties for sale in the CBD!\u00a0Alternately, refer to our\u00a0handy buying guides,\u00a0or read more about\u00a0the hottest areas to live in with PropertyGuru\u2019s AreaInsider
\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…Singapore wants people to live, work and play in one place<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This comes as the financial district is bustling by day, but is close to deserted...<\/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-105791","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-rwj","jetpack-related-posts":[{"id":105883,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-wants-to-liven-up-cbd-with-more-hotels-and-residential-property-according-to-urban-plan\/","url_meta":{"origin":105791,"position":0},"title":"Singapore wants to liven up CBD with more hotels and residential property, according to urban plan","date":"April 8, 2019","format":false,"excerpt":"\r Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it is a key plank of Singapore\u2019s vision for its central business district.Like many cities\u2019 financial centres, Singapore\u2019s is bustling by day and close to deserted on a weekend.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114541,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/covid-19-outbreak-singapore-economy-to-contract-0-6-in-q1\/","url_meta":{"origin":105791,"position":1},"title":"COVID-19 Outbreak: Singapore economy to contract 0.6% in Q1","date":"February 26, 2020","format":false,"excerpt":"\r A major trade partner with China, the city-state\u2019s economy is expected to contract 0.6% in the first quarter of 2020 \u2013 a first since the 2009 recession following the global financial crisis. Economists expect the effects of the coronavirus outbreak to reverberate beyond China, with Singapore being the worst\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-usd1-million-can-buy-you-in-singapore\/","url_meta":{"origin":105791,"position":2},"title":"What USD1 million can buy you in Singapore","date":"March 2, 2016","format":false,"excerpt":"\r Not a lot of living space Aerial view of Luxury yacht in Keppel Bay at Singapore For USD1 million, you can purchase 452 sqft of prime real estate in Singapore (or a small studio apartment), making it the world\u2019s seventh most expensive place to buy luxury property, noted findings\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79926,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-riviera-point-sold-en-bloc\/","url_meta":{"origin":105791,"position":3},"title":"Cairnhill Mansions, Riviera Point sold en bloc","date":"February 15, 2018","format":false,"excerpt":"\r Aerial view of Cairnhill Mansions at Cairnhill Road. (Photo: CBRE) Singapore\u2019s collective sales market continues to sizzle with the sale of Cairnhill Mansions and Riviera Point for $362 million and $72 million respectively, revealed marketing agent CBRE. Nestled on a 43,103 sq ft site, Cairnhill Mansions was sold to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ubs-avoiding-singapore-hk-housing-markets\/","url_meta":{"origin":105791,"position":4},"title":"UBS avoiding Singapore, HK housing markets","date":"September 18, 2017","format":false,"excerpt":"\r The bank feels that Singapore\u2019s housing market is too heavily regulated.\u00a0 Multinational bank UBS is avoiding the housing markets of Singapore and Hong Kong as there is a tendency for the governments of these cities to impose property cooling measures to control rising prices, reported Bloomberg. \u201cWe have no\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dgrove-villas-up-for-en-bloc-sale-at-398m\/","url_meta":{"origin":105791,"position":5},"title":"D\u2019Grove Villas up for en bloc sale at $398m","date":"March 28, 2019","format":false,"excerpt":"\r The 21-storey development is located near the Orchard Road shopping belt, high-end clubhouses and premium serviced apartments. D\u2019Grove Villas, a freehold residential development in prime District 10, has been put up for collective sale with an asking price of $398 million, revealed marketing agent Centaline Singapore. Located at 8A\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\/105791"}],"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=105791"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105791\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=105791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=105791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=105791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}