The Future of Central Singapore
Last November, the Urban Redevelopment Authority (URA)—Singapore’s national urban planning authority—released the Draft Master Plan 2013. The Master Plan of Singapore is a document concerning plans for Singapore’s urban development. Reviewed once every 5 years to keep Singaporeans informed, the Master Plan of Singapore details many projects aimed at building green, healthy and connected townships across our country.
Developing more public housing is a key part of the Master Plan, as Singapore’s population of 5 million today is expected to increase to 6 million at the end of 2020, and about 6.5 to 6.9 million at the end of 2030. To ensure that everyone gets a home when the population rises, the URA has made plans to develop housing across many small plots of previously-unused land across Singapore. 500,000 homes have been earmarked for development in the near future, with the majority of development happening in the East and Central—places such as Marina South, Bidadari, Tampines North and Punggol. In addition to that, smaller new housing developments in neighbourhoods such as Choa Chu Kang and Holland Village, among other existing estates, can also be found across Singapore.
Developments Planned for Central Singapore
Like most of the rest of Singapore, the most widespread developments that will be found across Central Singapore over the few years will be HDB flats. A new housing estate will be built in Bidadari, which is found between Serangoon MRT Station and Woodleigh MRT Station. In addition to that, additional HDB flats will be built in existing housing estates such as Holland Village, Kampong Bugis, Bukit Merah, Queenstown, MacPherson and Dakota, among many other estates.
Central Singapore will see many commercial and retail developments happening, most notably in areas that are now made more accessible by the new Circle Line MRT Stations such as Dakota, MacPherson and Caldecott. These developments accompany the many new public and private houses that have sprung up in the area to make them more vibrant places to live.
The Paya Lebar area of Central Singapore will see significant development in the near future. Having been earmarked as a new sub-regional centre, it will see many commercial developments that will bleed into surrounding areas such as Geylang Bahru, MacPherson and Kallang. The Singapore Sports Hub located at Kallang, for instance, will see a new retail mall and a hotel development integrated with the waterfront promenade along Rocher Canal.
An interesting thing to note about Central Singapore is that it is very densely populated with MRT stations—and these stations are going to grow further in number. Within the next 10 years, all major developments in Central Singapore are going to be at most a 10-minute walk away from an MRT station. That makes a lot of MRT stations across the island.
The many developments planned for Central Singapore are certainly very interesting, and it opens up many opportunities for investment too. Alex Residecnes is a pefect example which locates in the central singapore with strong investment attributes. Which future developments in the central are you most interested in?