More housing options in Central Region — from public housing to long-stay apartments

In the future, the Central Region will have a more eclectic mix of housing. In addition to private housing, there will be public housing and long-stay apartments. The intent is “to ensure that Singaporeans from different walks of life have the opportunity to stay in these central locations”, said Desmond Lee, Minister for National Development, in his speech at the unveiling of the “My City, My Home” exhibition last November. It is part of URA’s development plans for the Draft Master Plan 2025. URA is also prioritising the development of brownfield sites. In the Central Region and Central Area, these include Bukit Timah Turf City, Pearl’s Hill, the old Police Academy at Mount Pleasant, and the former Keppel Club and Golf Course. Advertisement Advertisement

Bukit Timah Turf City — 10-minute neighbourhood

In May, Minister Lee announced that Bukit Timah Turf City will be developed into a new high-density housing estate with 15,000 to 20,000 public and private housing units over the next 20 to 30 years. It is the first time in nearly 40 years that new public housing will be introduced in the prime Bukit Timah area. The 176ha Bukit Timah Turf City served as Singapore’s racecourse from 1933 until its relocation to Kranji in 1999. Since then, it has been leased out for recreational and lifestyle uses until the end of 2023. The future estate at Bukit Timah Turf City will be a car-lite one with walking paths and cycling trails. It will be a “10-minute neighbourhood” where amenities such as shops, community spaces and parks are close to the MRT stations, which are, in turn, within 800m or a 10-minute walk. The estate will be served by the existing Sixth Avenue MRT Station on the Downtown Line (DTL) and the upcoming Turf City MRT Station on the Cross Island Line (CRL), slated to open in 2032. The Turf City Station is just one stop from King Albert Park Station, an interchange for the DTL and CRL. About one-third of the Bukit Timah Turf City estate will be set aside for green spaces, including the existing Eng Neo Avenue Forest and Bukit Tinggi. These two habitats will be linked by a 100m-wide landscaped connection.

9,000 new homes at former golf course

At the upcoming Greater Southern Waterfront precinct, the former 48ha Keppel Club and golf course will see 9,000 new homes, comprising 6,000 public housing and 3,000 private housing units. Advertisement Advertisement The former Keppel Club site has been earmarked for residential use since the Master Plan 2014. Future residents will be served by Labrador Park and Telok Blangah MRT Stations on the Circle Line, which will be connected to the estate via walking trails. Close to 10ha (20%) — the size of 18 football fields — will be set aside for parks and four green corridors that will run through the estate and serve as recreational spaces. The public housing units will be launched in the next two years. HDB says the blocks will be designed to maximise views of greenery with staggered building heights and landscaped terraces. Green roofs on lower-rise blocks will serve as additional habitats for butterflies and smaller urban bird species, such as the locally endangered blue-crowned hanging parrot and oriental magpie robin. “As the site is quite close to the city centre, we will bring homes closer to jobs,” says Minister Lee. “This is part of our effort to move towards having more housing options and mixed-use development in our Central Region.”

More residential offerings at Media Circle, one-north

In October 2023, URA proposed rezoning several sites at one-north from business park use to “residential with commercial on the first storey”. The amendments to the Master Plan were announced on May 3. They involved several plots in Media Circle and Portsdown Road, including the site formerly occupied by the Temasek Club, a social club for Singapore Armed Forces officers and their families. Two sites at Media Circle — Parcel A and Parcel B — will be launched for sale in November under the 2H2024 Government Land Sales (GLS) programme. The Media Circle (Parcel A) residential site has a plot ratio of 3.7 and could yield about 345 residential units. In contrast, Media Circle (Parcel B) has a higher plot ratio of 4.3 and could yield 485 units. Advertisement Advertisement Just across the road from Media Circle (Parcel A) is another residential site sold to a joint venture between two Chinese developers, Qingjian Realty and China Communications Construction Co, also known as Forsea Holdings. The duo submitted the highest of three bids to win the site. They paid $395.29 million or $1,191 psf per plot ratio (ppr). The 114,462 sq ft, 99-year leasehold residential site on Media Circle could be developed into a 355-unit project. The new project is expected to be launched sometime in 1H2025. URA launched for sale a 62,046 sq ft, 60-year leasehold site at Media Circle in May. The site could be built into a 520-unit project designated for long-stay serviced apartments. The minimum stay for such serviced apartments is three months, and the development cannot be subdivided for sale. The tender for the site will close on Sept 19. The two latest residential project launches at one-north were at Slim Barracks Rise Parcel A and B. Kingsford Development launched the 142-unit private condo, The Hill @ One-North, on Parcel B in April. To date, 44 units (31%) have been sold at an average price of $2,597 psf, based on caveats lodged with URA Realis as at July 29. At the neighbouring site, Slim Barracks Rise (Parcel A), developer EL Development launched its 275-unit Blossoms by the Park a year earlier in April 2023. Based on caveats lodged, 250 units (91%) have been sold at an average price of $2,446 psf.

Activating Zion Road neighbourhood

Located in District 3, Zion Road (Parcel A) is bounded by Zion Road, Kim Seng Road and Havelock Road. It is near Great World City and hotels such as Grand Waterfront Copthorne, Four Points Sheraton and The Warehouse Hotel along the Singapore River. The tender for Zion Road (Parcel A) closed on April 4 and drew a lone bid of $1.107 billion or $1,202 psf ppr. The bidder was a joint venture between Singapore-listed City Developments Ltd (CDL) and Japanese real estate developer Mitsui Fudosan. According to CDL and Mitsui Fudosan, the new mixed-use development will have 69-storey and 64-storey residential blocks comprising 740 units for sale. Another 35-storey block will have a retail podium and 290 rental apartment units. “Together with our valued partner, we look forward to transforming the River Valley enclave with a new sustainable landmark,” said Sherman Kwek, CDL group CEO, at the close of the tender. Zion Road (Parcel B) next door is a residential development site that has sat on the Reserve List of the GLS programme since 2018. The site was triggered for sale in April, and when the tender closed on July 18, two bids were received. Allgreen Properties, part of Kuok Group founded by Malaysian billionaire Robert Kuok, submitted the highest bid of $730.09 million or $1,304 psf ppr for the site at Zion Road (Parcel B). It could be developed into a new residential project with 610 units.

Margaret Drive

In the Queenstown area, a GLS site at Margaret Drive was launched for sale at the end of May. The 99-year leasehold site spans 102,497 sq ft and can yield about 460 residential units. The tender closed on August 1 with two bids. The top bid of 497 million ($1,154 psf per plot ratio) was from a consortium made up of GuocoLand, Hong Leong Holdings’ Intrepid Investments and Hong Leong Group’s Hong Realty. The bid is 5% higher than the other bid of $473.55 million ($1,100 psf ppr) submitted by a joint venture between Singapore-listed property developer Sing Holdings and Cedar Investments, an investment holding company whose substantial shareholders are Sing Holdings' Lee family. The site is adjacent to Queenstown Primary School and within walking distance of the Queenstown MRT Station on the East-West Line. Next to the site is the HDB development SkyOasis @ Dawson on Margaret Drive, where a new high of $1.73 million ($1,444 psf) was achieved for a premium 1,195 sq ft, five-room flat on June 26. The deal was brokered by ERA. The last private condo launched along Margaret Drive is the 309-unit Margaret Ville by MCL Land. Launched in June 2018 at an average price of $1,880 psf, the 99-year leasehold, 40-storey condo was entirely sold and completed in 2021. It is located next to Queenstown Secondary School. Based on caveats lodged since January, units at Margaret Ville have changed hands at prices ranging from $1,973 psf for a second-floor unit to $2,203 psf for a 38th-floor unit.

Holland Road neighbourhood

In the neighbourhood of Holland Road in prime District 10, the tender for a residential GLS site at Holland Drive closed on May 14 with three bids. The site was awarded to the highest bidder, a consortium comprising CapitaLand Development (35%), UOL Group (35%), Singapore Land Group (20%) and Kheng Leong Co (10%). The partners paid $805.39 million or $1,285 psf ppr for the site. The 99-year leasehold residential site at Holland Drive has a maximum gross floor area of about 626,650 sq ft. The CapitaLand-UOL consortium intends to develop the site into a residential project with twin 40-storey towers and 680 residential units. Next door is One Holland Village, a mixed-use development by a consortium comprising Far East Organization, Sekisui House and Sino Group. The 145,314 sq ft One Holland Village Mall with 21,528 sq ft of community space soft-opened last December. One Holland Village has made waves as a pet-friendly mall. The 296-unit One Holland Village Residences and the 255-unit Quincy House serviced residences are expected to be completed by the end of 2024. One Holland Village Residences was launched in November 2019 and, based on caveats lodged, completely sold by August 2023, at an average price of $2,807 psf. Further down at Old Holland Road in District 21, a residential development site on Holland Link is scheduled for launch in December under the 2H2024 GLS programme. The 185,141 sq ft, 99-year leasehold site can be developed into a low-rise project with 240 units.

Farrer Park

In 2022, the government announced plans to redevelop a 10ha brownfield site in Farrer Park into a new HDB estate with 1,600 units. The site has a rich sports heritage: It was Singapore’s first racecourse in the 1880s, and in the 1950s, it became a sporting arena with a field, swimming pool and boxing gym. The new estate will be integrated with sports and recreational facilities, such as a new swimming complex with a sheltered pool, multi-purpose playfield and gym. The existing Farrer Park and Little India MRT Stations on the North East Line will serve the future estate. The first development, Farrer Park Fields, with 1,274 units, was launched for sale under the Build-To-Order (BTO) Prime Location Public Housing scheme. Buyers of these units have a 10-year minimum occupation period (MOP) instead of the typical five-year MOP for HDB BTO flats. The 569-unit Farrer Park was launched under the May 2023 BTO exercise. The two HDB projects will have a combined total of 1,843 units. Nearby, the 407-unit Piccadilly Grand, a joint-venture project between CDL and MCL Land, was launched in May 2022. The private condo on Northumberland Road was 77% sold on the first weekend at an average price of $2,150 psf. The project was fully sold by December 2023. The future Central Region of Singapore will, therefore, have a more diverse mix of housing types to cater to different lifestyles and budgets.