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The first BTO project in the Greater Southern Waterfront is expected to be launched within the next three years, which will kickstart the transformation of the area into a mega waterfront development. This project is part of HDB flats that will be built on the 48ha site of the Keppel Club - which will be redeveloped for housing when Keppel Golf Club's lease expired on 31 Dec 2021. Another 3,000 units are expected to be private housing.
Measuring around 48 hectares – about the size of 86 football fields, this area will see about 6,000 Housing and Development Board (HDB) BTO flats built on the site of Keppel Club, with the first Build-to-Order (BTO) project expected to launch within three years announced Minister for National Development Desmond Lee on 12 April 2022 (Tuesday).
Being close to the coast as well as green spaces, the Keppel Club site will offer unique waterfront living, close to nature within a central location with Labrador Park MRT and Telok Blangah MRT stations nearby. This new town is expected to adopt a "car-lite” model in the estate, enabling residents to get around easily by walking or cycling. The housing estate will have new parks and open spaces which feature walking trails that connect to the MRT stations providing residents with easy access to transport nodes and new social and commercial facilities. Green roofs on lower rise blocks can also supplement the green spaces to serve as additional habitats for butterflies and smaller urban bird species.
HDB will also set aside close to 10 hectares or about 20 per cent of the site area for parks and open spaces to develop:
- The Central Corridor: a central green park running through the centre of the site
- Berlayer Corridor: a 30m-wide extension along Berlayer Creek protecting existing mangrove forest
- Henderson Corridor: a linear park along the eastern boundary of the Keppel Club site, which also serves as an avian connectivity path
- The Northern Corridor: a landscaped linear green connecting the other 3 corridors
The green corridors at Keppel Club will also be part of the new Labrador Nature Park Network to enhance greenery along the surrounding areas, the Labrador Nature Park Network will comprise more than 200 hectares of green spaces including the Labrador Nature Reserve, Labrador Nature Park, Berlayer Creek and Pasir Panjang Park, and the mature secondary forests along the Southern Ridges.
Measuring around 48 hectares – about the size of 86 football fields, this area will see about 6,000 Housing and Development Board (HDB) BTO flats built on the site of Keppel Club, with the first Build-to-Order (BTO) project expected to launch within three years announced Minister for National Development Desmond Lee on 12 April 2022 (Tuesday).
Being close to the coast as well as green spaces, the Keppel Club site will offer unique waterfront living, close to nature within a central location with Labrador Park MRT and Telok Blangah MRT stations nearby. This new town is expected to adopt a "car-lite” model in the estate, enabling residents to get around easily by walking or cycling. The housing estate will have new parks and open spaces which feature walking trails that connect to the MRT stations providing residents with easy access to transport nodes and new social and commercial facilities. Green roofs on lower rise blocks can also supplement the green spaces to serve as additional habitats for butterflies and smaller urban bird species.
HDB will also set aside close to 10 hectares or about 20 per cent of the site area for parks and open spaces to develop:
- The Central Corridor: a central green park running through the centre of the site
- Berlayer Corridor: a 30m-wide extension along Berlayer Creek protecting existing mangrove forest
- Henderson Corridor: a linear park along the eastern boundary of the Keppel Club site, which also serves as an avian connectivity path
- The Northern Corridor: a landscaped linear green connecting the other 3 corridors
The green corridors at Keppel Club will also be part of the new Labrador Nature Park Network to enhance greenery along the surrounding areas, the Labrador Nature Park Network will comprise more than 200 hectares of green spaces including the Labrador Nature Reserve, Labrador Nature Park, Berlayer Creek and Pasir Panjang Park, and the mature secondary forests along the Southern Ridges.
The 48-hectare site currently occupied by Keppel Club will be redeveloped to host about 6,000 public housing flats with the rest expected to be built up as private residential units. PHOTO: NPARKS, MND
The first build-to-order (BTO) HDB flats on the Keppel Club site, which are expected to be highly sought after, are slated to launch within the next 3 years. The remaining units are progressively scheduled for in the next 3 to 5 years, according to the Urban Redevelopment Authority (URA).
The housing developments will feature “sky rise greenery” and “landscaped terraces” allowing residents to live in an eco-friendly environment close to the city centre. This is part of the government's efforts to move towards having more housing options and mixed-use development in the central region bringing homes closer to jobs. There are also plans to transform the nearby Pasir Panjang Power Station buildings into a distinctive and vibrant mixed-use district characterised by its unique industrial heritage and waterfront. National Parks Board (NParks) will introduce several new green spaces along Alexanda Stream, at Berlayer Creek and at King's Dock. NParks is also adding a waterfront extension at Pasir Panjang Park. Together with the new parks at the Keppel Club site, there will be a total of more than 25 hectares of new green spaces.
HDB is still deciding whether these new flats will fall under the Housing and Development Board's Prime Location Public Housing (PLH) model as they will be considering factors such as the project's locational attributes and market values.
The housing developments will feature “sky rise greenery” and “landscaped terraces” allowing residents to live in an eco-friendly environment close to the city centre. This is part of the government's efforts to move towards having more housing options and mixed-use development in the central region bringing homes closer to jobs. There are also plans to transform the nearby Pasir Panjang Power Station buildings into a distinctive and vibrant mixed-use district characterised by its unique industrial heritage and waterfront. National Parks Board (NParks) will introduce several new green spaces along Alexanda Stream, at Berlayer Creek and at King's Dock. NParks is also adding a waterfront extension at Pasir Panjang Park. Together with the new parks at the Keppel Club site, there will be a total of more than 25 hectares of new green spaces.
HDB is still deciding whether these new flats will fall under the Housing and Development Board's Prime Location Public Housing (PLH) model as they will be considering factors such as the project's locational attributes and market values.
Keppel Club’s 30-year lease on the land which ended Dec 31, 2021, has been granted several extensions, the latest till Mar 31, 2023, to facilitate its clearance and reinstatement of the site. The property was zoned Residential under the URA 2019 Master Plan - Straits Times
Developers who are keen to ballot for the GLS land plots there may need to wait a few more years as no timeframe was given on when the land plots might be parcelled out for tender for private residential development to allow URA to calibrate the pace of both residential and commercial space supply release carefully.
Keppel Club’s 30-year lease on the land which ended Dec 31, 2021, has been granted several extensions, the latest till Mar 31, 2023, to facilitate its clearance and reinstatement of the site. The property was zoned Residential under the URA 2019 Master Plan.
Nearby in Bukit Merah, the median resale prices of 5-room HDB flats was S$750,000 in March, while the median for 4-room flats in the resale market was S$735,000, according to latest data from SRX. In the private residential market, near the Greater Southern Waterfront - Avenue South Residence developed by UOL Group with 92% of the units already sold are seeing its available units selling above $2,300 per square foot (psf) according to data from URA's Realis platform.
Keppel Club’s 30-year lease on the land which ended Dec 31, 2021, has been granted several extensions, the latest till Mar 31, 2023, to facilitate its clearance and reinstatement of the site. The property was zoned Residential under the URA 2019 Master Plan.
Nearby in Bukit Merah, the median resale prices of 5-room HDB flats was S$750,000 in March, while the median for 4-room flats in the resale market was S$735,000, according to latest data from SRX. In the private residential market, near the Greater Southern Waterfront - Avenue South Residence developed by UOL Group with 92% of the units already sold are seeing its available units selling above $2,300 per square foot (psf) according to data from URA's Realis platform.
Kiwi Lim from Huttons Asia noted that just nearby in Telok Blangah, HDB launched Telok Blangah BTO flats in 2021 seeing 4 room BTO flats selling above S$700,000 with more than 3,000 applicants fighting for 70 four-room Build-To-Order (BTO) flats resulting in one of the highest application rates in history.
HDB recently announced to buyers at three BTO projects to expect further delays of at least 3 months to 6 months due to tight manpower shortage causing buyers of Tampines GreenCourt, Clementi NorthArc and Woodleigh Hillside BTO projects who were expecting their flats to be ready in the third quarter of this year - already a delayed completion date - to wait longer between three and six more months for their homes.
"I believe HDB may want to settle these construction delays that may last thru 2023 before launching the new BTO flats at Keppel Club. If HDB launch these BTO flats after 2023, I expect the 4 room flats to be priced around $850,000 and 5 room flats around S$1 million if these BTOs are not classified under the PLH model which has more restrictions on buyers. Keppel Club future development will integrate the best attributes the government has gathered from developing Punggol 21, Bidadari Town and Marina Bay coupled with the additional upside from The Greater Southern Waterfront." said Kiwi Lim.
HDB recently announced to buyers at three BTO projects to expect further delays of at least 3 months to 6 months due to tight manpower shortage causing buyers of Tampines GreenCourt, Clementi NorthArc and Woodleigh Hillside BTO projects who were expecting their flats to be ready in the third quarter of this year - already a delayed completion date - to wait longer between three and six more months for their homes.
"I believe HDB may want to settle these construction delays that may last thru 2023 before launching the new BTO flats at Keppel Club. If HDB launch these BTO flats after 2023, I expect the 4 room flats to be priced around $850,000 and 5 room flats around S$1 million if these BTOs are not classified under the PLH model which has more restrictions on buyers. Keppel Club future development will integrate the best attributes the government has gathered from developing Punggol 21, Bidadari Town and Marina Bay coupled with the additional upside from The Greater Southern Waterfront." said Kiwi Lim.
Extracted From Straits Times News On 12 April 2022
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A new record price was set for a 3,272 sq ft penthouse unit at Midtown Modern in downtown Bugis for $14 million
Singapore-listed property group GuocoLand's iconic integrated city fringe condo development - Midtown Modern has achieved a new record price for a private residential condo in District 07 when a buyer secured the 3,272 sq ft penthouse unit for $14 million last month or $4,278 psf.
This is the last of two penthouses in the 558-unit development to be sold. The first penthouse unit was sold during the project’s initial launch in March last year. That 3,520 sq ft unit was sold for $14.83 million ($4,213 psf) in March 2021.
Till today, 74% of the total units in the whole Midtown Modern integrated development has been sold. Current avail units at Midtown Modern consists of one bedroom units priced from $3,6xx psf onwards, last unit of two bedroom at nearly $3,300 psf, three bedroom units from $2,6xx psf onwards and four bedroom units from $2,5xx psf onwards.
The 99-year leasehold condominium is a joint venture between GuocoLand and Hong Leong and comprises two 30-storey towers and a retail podium, will feature around 10 thematic gardens and landscaped areas, a 50m swimming pool, clubhouse, tennis court, hot spring and tea house, among others.
This is the last of two penthouses in the 558-unit development to be sold. The first penthouse unit was sold during the project’s initial launch in March last year. That 3,520 sq ft unit was sold for $14.83 million ($4,213 psf) in March 2021.
Till today, 74% of the total units in the whole Midtown Modern integrated development has been sold. Current avail units at Midtown Modern consists of one bedroom units priced from $3,6xx psf onwards, last unit of two bedroom at nearly $3,300 psf, three bedroom units from $2,6xx psf onwards and four bedroom units from $2,5xx psf onwards.
The 99-year leasehold condominium is a joint venture between GuocoLand and Hong Leong and comprises two 30-storey towers and a retail podium, will feature around 10 thematic gardens and landscaped areas, a 50m swimming pool, clubhouse, tennis court, hot spring and tea house, among others.
Midtown Modern begins at the arrival lounge. The mood in this high-ceilinged lobby is shaped by the light through the glass elevator shaft. Bright and cheery in the day, quieter and more intimate as dusk approaches
In total, around 90 per cent of all 1- and 2-bedroom units at Midtown Modern, and close to 50 per cent of all 3-bedroom units were sold. In addition, eight 4-bedroom units were also snapped up with the majority of buyers being Singaporeans. Current avail prices ranged from S$1.487 million for a one-bedroom unit, to S$6.86 million for a 4-bedroom unit.
Many owner-occupier buyers of Midtown Modern belong to younger age groups or smaller household sizes who loved the location and felt that the two and three-bedroom unit layouts are well designed for liveability.
Expected to be completed by 2024, Midtown Modern is surrounded by an amazing variety of eateries and range of amenities with direct connection to the Bugis MRT interchange station (served by the East-West and Downtown lines), 5 star hotels, grade A offices, entertainment venues, shopping malls, convention centres and more.
Many owner-occupier buyers of Midtown Modern belong to younger age groups or smaller household sizes who loved the location and felt that the two and three-bedroom unit layouts are well designed for liveability.
Expected to be completed by 2024, Midtown Modern is surrounded by an amazing variety of eateries and range of amenities with direct connection to the Bugis MRT interchange station (served by the East-West and Downtown lines), 5 star hotels, grade A offices, entertainment venues, shopping malls, convention centres and more.
Located in a vibrant neighbourhood in District 07, Piccadilly Grand - a joint development by both CDL and MCL Land - is the perfect home for residents who desire the ultimate convenience of an integrated condo lifestyle.
Real estate agency Huttons Asia's Kiwi Lim felt that Midtown Modern's latest record psf price for its penthouse is not surprising in today's property market because it is a rare brand new integrated condo development especially when its in the city fringe. There are only a handful of integrated condo projects - estimated less than 5% of all condo developments in Singapore offer such ultimate lifestyle convenience to its residents.
For investors or potential buyers who missed Midtown Modern's VIP preview launch, there is another rare upcoming integrated condo development in District 08 developed by two powerhouse developers CDL and MCL Land that will be expected to launch for preview soon next week - Piccadilly Grand.
For investors or potential buyers who missed Midtown Modern's VIP preview launch, there is another rare upcoming integrated condo development in District 08 developed by two powerhouse developers CDL and MCL Land that will be expected to launch for preview soon next week - Piccadilly Grand.
Edgeprop Singapore online article
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Map: STRAITS TIMES GRAPHICS Source: HDB
HDB just announced the selection of Blocks 562 to 565, comprising 606 units along Ang Mo Kio Avenue 3 is the latest site to be announced under the Selective En bloc Redevelopment Scheme (SERS) for redevelopment. Flat owners can look forward to moving to Ang Mo Kio Drive. The replacement site will offer about 1,065 new flats. This is the first SERS announcement in nearly four years.
The new flats will be sold at subsidised prices and frozen at the time of the SERS announcement. They are not subject to further market movements, thereby providing SERS flat owners with greater certainty.
SERS flat owners will be invited to register and choose their flats in this site first. Following that, any surplus flats could be offered to the public through a Sale of Balance Flats (SBF) exercise or open booking.
But while this means modern new amenities for residents, some are concerned about how the big move will disrupt long-time social support networks for elderly residents – and the impact this dislocation could have on their mental and physical well-being, if not properly managed.
The value of HDB flats in Ang Mo Kio is expected to go up after the announcement of the SERs and over time, the gap between prices of HDB flats and private property will narrow even further.
The new flats will be sold at subsidised prices and frozen at the time of the SERS announcement. They are not subject to further market movements, thereby providing SERS flat owners with greater certainty.
SERS flat owners will be invited to register and choose their flats in this site first. Following that, any surplus flats could be offered to the public through a Sale of Balance Flats (SBF) exercise or open booking.
But while this means modern new amenities for residents, some are concerned about how the big move will disrupt long-time social support networks for elderly residents – and the impact this dislocation could have on their mental and physical well-being, if not properly managed.
The value of HDB flats in Ang Mo Kio is expected to go up after the announcement of the SERs and over time, the gap between prices of HDB flats and private property will narrow even further.
Timeline for residents of Blocks 562 to 565 in Ang Mo Kio Avenue 3 under the SERs exercise. Credit: HDB Graphics
Besides choosing a flat in the new precinct offered, Ang Mo Kio SERS flat owners also have other rehousing options:
- Apply for a flat elsewhere with SERS rehousing benefits under Build-To-Order (BTO) or Sale of Balance Flats (SBF) exercise where there is a 10% priority allocation (excluding Community Care Apartments and Prime Location Public Housing flats, if applicable) or open booking.
- Notes:
- BTO, SBF or open booking application must be submitted by 31 May 2023.
- The Delivery Possession Date of the BTO or balance flat must not be later than 31 March 2029.
- Notes:
- Sell the existing SERS flat in the open market, where it is likely to command a premium above its market value at the time of the SERS announcement, due to the SERS rehousing benefits. Alternatively, SERS flat owners can transfer the flat with the rehousing benefits.
- Notes:
- There will be a 1-month freeze on resale or transfer of a SERS flat following the SERS announcement, to give flat owners more time before making a decision.
- Resale or transfer applications can only be submitted from 7 May 2022 onwards not later than 31 Mar 2023.
- Any Option to Purchase for resale applications can only be signed from 7 May 2022 onwards and not later than 31 Mar 2023.
- Notes:
- Receive an ex-gratia payment of $30,000 plus SERS grant, if eligible, on top of SERS compensation instead of the SERS rehousing benefits.
Artist's impression of replacement flats located at Ang Mo Kio Drive. (Image: HDB)
In 2017, then-Minister for National Development, Lawrence Wong said that not all old HDB flats will be eligible for SERS as under the government’s criteria, only about 5 per cent of all HDB flats are suitable for redevelopment under Sers and most of these projects with high redevelopment potential have already been announced. To date, more than 41,000 households in 82 sites, including the current Ang Mo Kio site, have benefited from the scheme.
The government has already stated that terms for VERS will be less generous than SERS, although details have not been confirmed yet. With VERS, homeowners in selected precincts where flats are aged 70 years and older, will get to decide if they want their flats to be taken back by the government before the lease runs out. This is unlike SERS where residents have to surrender their flats upon receiving the announcement.
For homeowners, SERS is preferred over VERS, but it’s also more to do with the government’s vision. Kiwi Lim from real estate agency Huttons Asia believe that the government may use SERS to acquire older HDB flats in city fringe areas such as the Greater Southern Waterfront because they need more space or they want to upgrade that development. The government is expected to be very selective of future SERs HDB blocks moving forward.
The government has already stated that terms for VERS will be less generous than SERS, although details have not been confirmed yet. With VERS, homeowners in selected precincts where flats are aged 70 years and older, will get to decide if they want their flats to be taken back by the government before the lease runs out. This is unlike SERS where residents have to surrender their flats upon receiving the announcement.
For homeowners, SERS is preferred over VERS, but it’s also more to do with the government’s vision. Kiwi Lim from real estate agency Huttons Asia believe that the government may use SERS to acquire older HDB flats in city fringe areas such as the Greater Southern Waterfront because they need more space or they want to upgrade that development. The government is expected to be very selective of future SERs HDB blocks moving forward.
Four years ago, the last SERs exercise by HDB was announced in 2018 for three blocks of flats at Blocks 81 to 83 MacPherson Lane.A total of 313 residential units, most of which are two-room and three-room flats, will be affected, along with 27 shops and two eating houses. Residents of the 50-year-old flats will be offered replacement units in three brand-new 17-storey or 19-storey blocks of flats being built on Circuit Road, which will have an estimated 630 units expected to be completed in the second quarter of 2023 near MacPherson MRT station and the Pan-Island Expressway.
The new flats will have recreational and communal facilities, as well as a commercial block with a supermarket, shops and two eating houses. Elder and childcare centres will also be available. Affected residents will have to move out of their current flats between the fourth quarter of 2023 and first quarter of 2024.
Eight years ago, in 2014, the inclusion of Tanglin Halt – one of Singapore’s oldest estates – under the SERs scheme was one of the largest SERS exercises to date as 3,480 Tanglin Halt households had to be moved as part of the Selective En-Bloc Redevelopment Scheme (SERS) to rejuvenate older housing estates. Affected residents were allocated new flats at five nearby sites, and have already moved into finished units at Dawson Vista and Forfar Heights, etc.
The new flats will have recreational and communal facilities, as well as a commercial block with a supermarket, shops and two eating houses. Elder and childcare centres will also be available. Affected residents will have to move out of their current flats between the fourth quarter of 2023 and first quarter of 2024.
Eight years ago, in 2014, the inclusion of Tanglin Halt – one of Singapore’s oldest estates – under the SERs scheme was one of the largest SERS exercises to date as 3,480 Tanglin Halt households had to be moved as part of the Selective En-Bloc Redevelopment Scheme (SERS) to rejuvenate older housing estates. Affected residents were allocated new flats at five nearby sites, and have already moved into finished units at Dawson Vista and Forfar Heights, etc.
Straits Times online article on 7 April 2022
