{"id":127017,"date":"2022-06-14T04:44:06","date_gmt":"2022-06-13T21:44:06","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-ramps-up-confirmed-private-housing-supply-for-2h-2022-paya-lebar-air-base-site-to-be-transformed-into-heritage-district-and-more\/"},"modified":"2022-06-14T12:49:35","modified_gmt":"2022-06-14T05:49:35","slug":"government-ramps-up-confirmed-private-housing-supply-for-2h-2022-paya-lebar-air-base-site-to-be-transformed-into-heritage-district-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-ramps-up-confirmed-private-housing-supply-for-2h-2022-paya-lebar-air-base-site-to-be-transformed-into-heritage-district-and-more\/","title":{"rendered":"Government ramps up confirmed private housing supply for 2H 2022, Paya Lebar Air Base site to be transformed into heritage district and more"},"content":{"rendered":"


\nGovernment ramps up confirmed private housing supply for 2H 2022, Paya Lebar Air Base site to be transformed into heritage district and more7th June to 13th June 2022
\nThe Government has raised the supply of private housing on the Confirmed List under the Government Land Sales (GLS) programme for the second half of 2022. Meanwhile, the Urban Redevelopment Authority (URA) is studying proposals to transform the Paya Lebar Air Base site into a heritage district.
\n\u00a0
\n1) Government ramps up confirmed private housing supply for 2H 2022
\nThe Government has raised the supply of private housing on the Confirmed List under the\u00a0GLS programme for the second half of 2022 by about 26% to 3,505 units from 2,785 units in the first half of the year.
\nNotably, this is the fourth consecutive time that the Government has increased the Confirmed List supply.
\nAmong the sites unveiled by the Government is the first site in Marina South \u2013 Marina Gardens Lane located next to Gardens by the Bay. It is set to kickstart development within the precinct.
\nMarina Gardens Lane site. Source: URA Space
\nOverall, 14 sites were unveiled under the GLS programme for 2H 2022, of which six are on the Confirmed List and eight on the Reserve List, showed URA data.
\nWhile the supply of 3,505 private homes is the highest since 3,915 units were offered under the 2H 2014 GLS, PropNex Realty CEO Ismail Gafoor believes the hike is measured and \u201cmay not fully satiate the hunger for residential land among developers\u201d.
\nWith this, he expects developers to continue to tap the collective sales market to complement their development pipeline.
\n\u00a0
\nAside from the Marina Gardens Lane site, there are five other sites on the Confirmed List: Bukit Timah Link, Lentor Gardens, Tengah Plantation Loop (EC), Hillview Rise,\u00a0and Tampines Avenue 11. Click to read more about all the GLS sites for 2H2022.
\n\u00a0
\n2) Paya Lebar Air Base site to be transformed into a heritage district
\nThe Paya Lebar Air Base site could be transformed into a heritage district that is built around its existing infrastructures such as the hangars, control tower and the former passenger terminal buildings.
\nThis was among the proposals submitted by the Singapore Institute of Planners (SIP) and the Singapore Institute of Architects (SIA) who were engaged by URA to reimagine how the site may be transformed for future needs, reported Channel News Asia.
\nThe 800ha site, sandwiched between Serangoon and Hougang to the west and Tampines and Pasir Ris to the east, will be freed up for development when the airbase is relocated in the 2030s.
\nOther proposals put forth include a car-lite town and a sustainable and energy-efficient town in which at least 50% of its energy needs are supplied by waste-to-energy plants and solar farms.
\nThe nearest MRT stations to the Paya Lebar Air Base\u00a0are Kaki Bukit\u00a0and Bedok Reservoir on the Downtown Line. Nearby shopping malls include\u00a0IKEA Tampines, Giant Hypermarket \u2013 Tampines and COURTS.\u00a0Parents with young children can send their kids to\u00a0Bedok North Secondary School, Paya Lebar Methodist Girls\u2019 School (Primary) and UWC South East Asia (East Campus).\u00a0
\n\u00a0
\n3) Singapore\u2019s long-term plan includes flexible workspaces, more inclusive housing
\nSource: URA
\nProviding more attractive and flexible workspaces to support innovation and new needs of workers and businesses are among the proposed concepts for Singapore\u2019s development in the next 50 years.
\nURA shared that it is exploring a \u201cvertical zoning\u201d concept for industrial estates, in which different but complementary uses are integrated into a single development, reported Channel News Asia.
\nIt also revealed plans to provide more inclusive housing options as well as more flexible flat layouts, allowing homeowners to configure the spaces based on their needs.
\nThe planning concepts and strategies were unveiled at a public exhibition titled \u201cSpace for Our Dreams\u201d, following a year-long public engagement exercise that began last July.
\n\u201cWe will continue to refine the concepts, strategies, and proposals to ensure that they stay relevant to the needs of Singaporeans and Singapore,\u201d said URA.
\nThe exhibition will run until 4 August, with URA encouraging visitors to provide their feedback.
\nIn URA\u2019s plan for Singapore in the next 50 years and beyond, Bayshore and Upper Changi will see public and private housing built, turning these areas into future housing towns. Potentially, new homes could also be constructed in Marina East and Marina South (in the CCR), and Lower Seletar and Chencharu in Yishun (in the OCR).
\n\u00a0
\n4) Million-dollar flats in Pasir Ris, Woodlands: No significant impact on prices of smaller flats
\nThe sale of three Housing and Development Board (HDB) flats \u2013 two in Woodlands and one in Pasir Ris \u2013 for over a million dollars in May is not expected to have a significant impact on the prices of smaller flats in such towns, reported TODAY.
\nThis comes as the flats were large-sized, at 189 sq m each \u2013 making them the biggest of the 30 million-dollar flats transacted last month.
\n\u201cClearly, the lack of new supply of five-room and larger flats are forcing buyers to chase after limited supply in the resale market and supporting the rising number of such million-dollar transactions,\u201d said Huttons Asia CEO Mark Yip.
\nBut given the limited number of such flats, OrangeTee and Tie\u2019s Senior Vice-president of Research and Analytics Christine Sun does not expect many successful transactions in the future.
\nDespite the seemingly increasing frequency of\u00a0million-dollar HDB flat transactions\u00a0making the news, such deals make up about 1% of all HDB resale transactions.\u00a0While HDB resale prices continue to climb, according to the PropertyGuru\u00a0Singapore Property Market Report Q2 2022, small gains or a price plateau is expected this quarter.
\nRelated article: HDB Estates With Flats Trending Towards 1 Million Dollars: Where Will The Next Estate Be?
\n\u00a0
\n5) Public housing built on East Coast\u2019s \u2018Long Island\u2019 may come under the Prime Location Housing scheme, analysts say
\nEast Coast Park
\nA property analyst expects public housing flats built on the proposed \u2018Long Island\u2019 reclamation site along the East Coast area to be sold under the Prime Location Public Housing (PLH) model, reported TODAY.
\nHuttons Asia\u2019s Senior Director of Research Lee Sze Teck estimates that around 10,000 to 15,000 housing units could be built on the reclaimed site.
\n\u201cHomes by our limited coastline are always coveted and highly sought after,\u201d he said.
\nSome residents living near the proposed reclamation site hope the area\u2019s charm and tranquillity would be retained should the authorities push through with the development.
\nERA Realty Network\u2019s Head of Research and Consultancy Nicholas Mak does not expect such development to affect property prices within the area since a significant number of them are freehold or with long 999-year leases.
\nURA revealed that it was studying a proposal to reclaim 15km of land from Marina East to Changi. It noted that aside from offering coastal protection, the\u00a0area can also be developed for new homes and as a new leisure and recreation spot.
\nFuture residents of \u2018Long Island\u2019\u00a0properties are likely to be serviced by the Thomson-East Coast Line, which is expected to be fully\u00a0operational by 2025.
\n\u00a0
\n6) New nature corridor to be established in Khatib
\nArtist\u2019s impression of the future Nee Soon Nature Park. Source: NParks
\nA new nature corridor \u2013 featuring five parks, three of which are new \u2013 will be established in Khatib over the coming years.
\nTODAY reported that the Khatib Nature Corridor will cover over 90ha of green spaces, which is equivalent to the size of the Jurong Lake Gardens.
\nThe five parks within the ecological corridor include the previously announced Khatib Bongsu Nature Park, set to be ready by 2026, and the Canberra Park. The three new ones are Miltonia Nature Park, Nee Son Nature Park and an extension of Lower Seletar Reservoir Park.
\nKhatib Nature Corridor will likewise be linked to three recreational routes \u2013 the Coast-to-Coast Northern Trail, the Round-Island Route and the Central Corridor \u2013 which connect to other parts of the city-state.
\nThe new nature corridor was identified following an ecological profiling exercise by the National Parks Board (NParks) across the island.
\nIn line with the SG Green Plan 2030,\u00a0every household is set to be within a 10-minute walk of a park by 2030. With these new nature parks, residents can reap the benefits of living near nature and enjoy green spaces in an increasingly built-up city.
\n\u00a0
\n7) Lakepoint Condominium enters private treaty negotiation
\nSource: Google Maps
\nLakepoint Condominium has closed its en bloc sale tender without any bid received and is now open for private treaty negotiations with interested parties, said exclusive marketing agent PropNex Realty.
\nLocated in Jurong West, the 99-year leasehold development comprises 304 residential units and five shop units. It occupies a 562,286 sq ft site zoned for \u201cResidential\u201d use under the 2019 Master Plan with a plot ratio of 1.4.
\nThe development was relaunched for en bloc sale on 19 April carrying a reserve price of $640 million.
\n\u201cWhile there was interest in the Lakepoint Condominium site among developers, we did not get a bid at the close of the collective sale tender. We will now enter into private treaty negotiations with interested parties,\u201d said Tracy Goh, Head of Investment and Collective Sales at PropNex.
\n\u201cUnder laws governing collective sales, owners of the development may enter into a private treaty contract with a buyer within 10 weeks from the tender closing date.\u201d
\nThe property is located near Jurong Innovation District, Jurong Industrial Park and Jurong Mega Port. The\u00a0closest\u00a0MRT station is Lakeside on the East West Line, which is a 5-minute walk away from Lakepoint Condominium. Nearby shopping malls Westgate, Jem, IMM, and JCube give residents access to a variety of amenities.
\n\u00a0
\n8) Recently renovated bedroom\u2019s false ceiling collapses, leaving the family traumatised
\nWendy Liu has been living in fear after the false ceiling of their recently renovated bedroom collapsed on the bed.
\nFortunately, she and her three children, who were aged eight, two and one, were out to take some pictures, reported TODAY. Her domestic worker, who was left at the house, told her that it \u201csounded like an earthquake, like a huge impact\u201d.
\n\u201cI keep thinking about how we could all have been sleeping on the bed\u2026 I\u2019m very sure we could have died,\u201d she said.
\nSR Tech Engineering, the contractor that carried out the renovation, has arranged to put the family at a hotel, while they fix the damage. It is also discussing the settlement amount with the family.
\nLiu said she has not been sleeping properly since the incident.
\n\u201cI feel like I\u2019m living in fear,\u201d she said. \u201cIt\u2019s, like, I don\u2019t know when the ceiling or the fan or the air-conditioner will fall on me and my family.\u201d
\n\u00a0
\n9) HDB issues $900mil fixed rate notes
\nThe Housing and Development Board (HDB) has issued $900 million, three-year fixed rate notes as part of its $32 billion Multicurrency Medium Term Note (MTN) Programme.
\nRated AAA by Fitch Ratings, the notes come in denominations of $250,000, with a coupon of 2.627% per annum payable semi-annually in arrear.
\nThey were cleared via The Central Depository, with Bank of China, Singapore Branch, DBS Bank, Oversea-Chinese Banking Corporation, China Construction Bank Corporation, Singapore Branch, and United Overseas Bank as joint lead managers and book runners.
\nWhile approval in principle for the notes\u2019 listing on the Singapore Exchange Securities Trading Limited has been obtained, their admission to the official list should not be taken as an indication of the merits of the Housing Board, its subsidiaries or the notes, said HDB.
\nUnder the MTN programme, HDB may \u201cfrom time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings\u201d.
\n\u00a0
\n10) CapitaLand Investment buys Melbourne office tower
\nCapitaLand Investment Limited (CLI) marked its fifth investment in Australia within six months with the acquisition of a 22-storey office tower in Melbourne\u2019s Central Business District (CBD).
\nLocated at 120 Spencer Street \u2013 opposite the Southern Cross Station, which is a major transport hub that connects to the wider Melbourne region \u2013 the freehold building has a net lettable area of 32,000 sq m and a committed occupancy rate of 97.5%.
\nIt has a long weighted average lease expiry (WALE) of 6.7 years, with tenants including WeWork as well as prominent local educational institutions like Redhill Education and Central Queensland University.
\nThe office tower was acquired for CLI\u2019s regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF).
\nIt is COREF\u2019s first acquisition in Australia and fourth within the Asia Pacific (APAC) region. Established in August 2021, the fund has made a total investment of around US$900 million ($1.25 billion).
\nMeanwhile, in local news, a Singapore resident bought\u00a0an entire floor of Suntec City Tower 2 for $38.8million. The 11,743.52 sq ft office space sits between the 26th and 30th storey.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Government ramps up confirmed private housing supply for 2H 2022, Paya Lebar Air Base site to be transformed into heritage district and more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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Meanwhile, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/03\/houses-in-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":92702,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-to-release-14-sites-yielding-a-total-of-8040-homes\/","url_meta":{"origin":127017,"position":3},"title":"Govt to release 14 sites yielding a total of 8,040 homes","date":"June 28, 2018","format":false,"excerpt":"\r \u00a0 The Urban Redevelopment Authority said on Wednesday (27 June) that it intends to release six confirmed list sites and nine reserve list sites under the second half 2018 Government Land Sales (GLS) programme. These sites could yield up to 8,040 private homes, including 1,210 executive condominiums (ECs). Specifically,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74508,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-gls-programme-for-1h-2018\/","url_meta":{"origin":127017,"position":4},"title":"Gov\u2019t unveils GLS Programme for 1H 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list sites and nine reserve list plots will be launched under the 1H 2018 Government Land Sales (GLS) Programme, announced the Urban Redevelopment Authority on Wednesday (13 December 2017). These land parcels can potentially yield a total of around 8,045 private dwellings and 63,960 sq m in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38280,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-confirmed-list-sites-to-launch-in-1h-2017-could-yield-2330-units\/","url_meta":{"origin":127017,"position":5},"title":"5 confirmed list sites to launch in 1H 2017, could yield 2,330 units","date":"December 16, 2016","format":false,"excerpt":"\r The government will look to ensure there is a steady supply of new homes to meet the needs of Singaporeans. 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