This 4 room flat that was sold at $1.4 mil is located at Block 1C Cantonment Road within the 46-48 floor range spanning 95 sqm (1,023 sqft) making it the most expensive 4-room HDB resale flat on record on both quantum price and price per-square-foot (psf) in Singapore's entire history.
"The $1,369 psf price achieved for the 4 room HDB is possible because of The Pinnacle @ Duxton's strategic location and iconic design that is unparalleled among all other current HDB estates." said Kiwi Lim from Huttons Asia. "The strategic location coupled with the award winning iconic design of the development, plus the URA's CBD Incentive Scheme to revitalise Tanjong Pagar's Central Business District, I believe we will may see prices pushing close to $1,500 psf by the end of this year for this iconic award winning HDB development right next to the upcoming mega development of The Greater Southern Waterfront."
"The Central Business District within Tanjong Pagar is currently seeing a major transformation and within the next ten years, Tanjong Pagar will be a very appealing address for locals and expatriates to live, play and work in. In essence, residents of The Pinnacle @ Duxton will benefit from the URA CBD Incentive Scheme which is expected to rejuvenate the CBD creating a more intimate, people-friendly environment with walkable streets and public spaces." said Kiwi Lim from Huttons Asia.
Changing global trends are reshaping the way and spaces in which people live, work and play. To attract talent, business districts all over the world are racing to become attractive places that cater to the varied needs of modern lifestyles. Singapore’s Downtown, comprising the Central Business District (CBD) and Marina Bay, is no exception.
To better support the continued growth and evolution of our CBD as a dynamic global hub, the Urban Redevelopment Authority (URA) - a statutory board in Singapore that oversees the physical planning and development of the city-state has launched various incentive schemes to encourage sustainable development and improve the quality of life in Singapore's Central Business District (CBD) by introducing a new set of incentives to reposition our CBD as a 24/7 mixed-use district so that the CBD will not only be a place to work, but also a vibrant place to live and play in.
One of the URA's key initiatives is the CBD Incentive Scheme (CBDIS), which aims to encourage building owners to rejuvenate and enhance the quality of their buildings and public spaces in the CBD. The scheme offers a range of incentives to property owners who carry out approved renovation or enhancement works, such as facade improvement, sheltered walkways, and public spaces improvements.
- The creation of mixed-use neighborhoods at the CBD fringe areas of Anson and Cecil Street, with greater extent of residential uses supported by a variety of social/community amenities;
- A blend of mixed-uses within Robinson Road, Shenton Way and Tanjong Pagar, while retaining the predominantly commercial character of the core areas of our CBD in Raffles Place.
The CBDIS has several components, including:
- Facade Improvement Scheme (FIS): The FIS provides funding support to building owners to improve the facades of their buildings. The URA offers up to 50% of the project cost, capped at SGD 300,000 per building.
- Sheltered Walkway Programme (SWP): The SWP aims to enhance the pedestrian experience in the CBD by providing covered walkways between buildings. The URA offers funding support of up to 80% of the project cost, capped at SGD 1 million per building in an effort to create a more convenient sheltered travelling for people living and working within the CBD to minimise exposure to weather elements.
- Public Spaces Improvement Programme (PSIP): The PSIP provides funding support for building owners to improve the quality of public spaces around their buildings. The URA offers up to 50% of the project cost, capped at SGD 500,000 per building to realise better connectivity to adjacent developments and transport nodes and providing a wider diversity of uses, including more residences, hotels, and creative lifestyle possibilities while creating a more intimate, people-friendly environment with walkable streets and public spaces that will provide an appealing address for people to live and work in.
- Green Mark Incentive Scheme (GMIS): The GMIS provides funding support to building owners who achieve a minimum Green Mark rating for their buildings. The URA offers up to SGD 3 million in funding for buildings that achieve the highest Green Mark Platinum rating.
The design of Newport Plaza is truly a masterpiece by world famous Nikken Sekkei (architect of Tokyo Skytree) and local top architect ADDP developed by reputable CDL and built by trusted builder Woh Hup. Newport Plaza includes the commercial element of Newport Tower and the luxury residential component known as Newport Residences which is expected to launch next weekend to the exclusive few who desire to own a piece of this rare freehold iconic masterpiece in this prime CBD location.
"Future residents of Newport Residences will benefit from the URA CBD Incentive Scheme which provides a range of incentives to building owners to improve the appearance, accessibility, and sustainability of their buildings and public spaces by encouraging the conversion of existing, older, office developments into mixed-use developments that will help to rejuvenate the CBD creating a more intimate, people-friendly environment with walkable streets and public spaces to encourage sustainable development and enhance the quality of life in Singapore's CBD" - real estate professional, Kiwi Lim
The Greater Southern Waterfront (GSW) is a major urban redevelopment project in Singapore that aims to transform the southern coastline into a new mixed-use district. Covering an area of approximately 2,000 hectares or approximately 6 times the size of Marina Bay, stretching from the Gardens by the Bay East to Pasir Panjang. It will be developed to complement existing context and topography guided by a comprehensive green and blue plan that will complement the nearby Berlayer Creek and Labrador Park.
The Greater Southern Waterfront (GSW) will be a car lite, walkable, and well connected district with easy accessibility to public transport nodes and amenities with an extremely long 10km continuous waterfront promenade seamlessly connecting various places of interest along the Greater Southern Waterfront in future.
Along this 30km coastline, The Greater Southern Waterfront (GSW) will see Pasir Panjang Linear Park connecting with West Coast Park and to Labrador Nature Reserve offering park users a glimpse of Pasir Panjang’s working container port and Power District up close. Other future connections will also link up places of interest along the waterfront to the hilltops for visitors to enjoy a distinctive recreational experience.
- New residential developments: The Greater Southern Waterfront will include a mix of public and private housing, with an estimated 9,000 new public and private housing units planned.
- Commercial developments: The Greater Southern Waterfront will include new commercial and office spaces, which are expected to create job opportunities and boost economic growth in the area.
- Parks and open spaces: The Greater Southern Waterfront will include a network of parks, open spaces, and promenades, providing residents and visitors with access to greenery and waterfront views.
- Transport infrastructure: The Greater Southern Waterfront will include improved transport infrastructure, such as new MRT stations and road connections, making it easier for residents to access the city centre and other parts of Singapore.
- Cultural and heritage sites: The Greater Southern Waterfront will include the preservation and redevelopment of some of Singapore's cultural and heritage sites, such as the former Pasir Panjang Power Station and the Labrador Battery.
The Greater Southern Waterfront project is expected to take several years to complete, with development phased over time. The project is part of Singapore's long-term plan to create a more sustainable, livable, and connected city, and is expected to contribute to the city-state's economic growth and competitiveness.