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As Singapore emerges from Covid pandemic, the government has made clear yet again its support for an open economy for our tiny island nation. A new Overseas Networks & Expertise Pass, which was announced by the Manpower Ministry on 29 Aug 2022 aim to strengthen Singapore’s position as a global hub for talent providing more options for prospective talented expats in Singapore.
Singapore has been facing a tight talent crunch especially at senior management levels, therefore the new employment pass is likely targeted at attracting specific talent in niche areas.
There is a S$30,000 minimum monthly salary requirement for the new Overseas Networks & Expertise Pass. Those with “outstanding achievements” in tech, arts, academia or sports can qualify even if they do not meet the salary criterion.
Overseas candidates need to demonstrate that they are playing a leading role in an established company, with market capitalisation of at least US$500 million or annual revenue of USS$200 million.
Singapore has been facing a tight talent crunch especially at senior management levels, therefore the new employment pass is likely targeted at attracting specific talent in niche areas.
There is a S$30,000 minimum monthly salary requirement for the new Overseas Networks & Expertise Pass. Those with “outstanding achievements” in tech, arts, academia or sports can qualify even if they do not meet the salary criterion.
Overseas candidates need to demonstrate that they are playing a leading role in an established company, with market capitalisation of at least US$500 million or annual revenue of USS$200 million.
Unlike the Tech.Pass that was introduced in January last year, the Overseas Networks & Expertise Pass applies to all sectors. As its name implies, the Tech.Pass for is only for tech entrepreneurs, leaders or experts.
Differences between Employment Pass (EP) versus Overseas Networks & Expertise Pass
Differences between Employment Pass (EP) versus Overseas Networks & Expertise Pass
- EP-holders are generally not allowed to start their own companies in Singapore, and the EP is generally tied to a single job. However, the new Overseas Networks & Expertise Pass holders will allow holders to concurrently start, operate and work for multiple companies, and will therefore also not be required to reapply for a new pass when changing jobs.
- There is a S$30,000 minimum monthly salary requirement for the new Overseas Networks & Expertise Pass holders. Those with “outstanding achievements” in tech, arts, academia or sports can qualify even if they do not meet the salary criterion.
- EP-holders are typically granted 2 years in the beginning allowing further renewals of 3 year periods later. Overseas Networks & Expertise Pass holders will be granted for 5 years, and renewed for further periods of 5 years.
- EP-holders are also granted to those who work in a managerial, executive or specialized job, whereas the Overseas Networks & Expertise Pass holders is available to talents in any industry – individuals who are able to demonstrate “outstanding talents” in arts and culture, sports, science and technology, and academia and research can qualify for the Overseas Networks & Expertise Pass.
- Overseas Networks & Expertise Pass holders similar to EP-Holders are able to obtain Dependent’s Passes (“DP”) for their spouses and children, as well as Long Term Visit Passes (“LTVP”) for their parents. However Overseas Networks & Expertise Pass holders can obtain DPs and LTVPs for family members.
- Overseas Networks & Expertise Pass holder's spouse will be able to work in Singapore by applying for a Letter of Consent. Should the spouses of EP-holders wish to work, they would need to obtain a work permit, S Pass or EP, along with all the associated conditions and requirements that that entails. To apply for a DP, an EP-holder would need to be earning at least $6,000 per month, while getting an LTVP will require a salary of at least $12,000 per month.
Real estate professional Kiwi Lim believe that the new Overseas Networks & Expertise Pass will attract and allow foreigner high-earners and high-achievers to live in Singapore without having to secure a job here first making it easier to draw top specialized talents & experts to Singapore making Singapore a more dynamic and resilient economy to face future challenges & overcome economic uncertainties.
The Overseas Networks & Expertise Pass will come into effect starting 1 January 2023. This will eventually pave the way for Singapore to become a global hub for talent - attracting individuals from various walks of life who are at the top of their game as global cities compete for their share of talents. The benchmark salary of S$30,000 is comparable to the top 5 per cent of EP holders in Singapore.
For more information and clarifications regarding the application and eligibility of the Overseas Networks & Expertise Pass, you may click to visit the MOM website.
The Overseas Networks & Expertise Pass will come into effect starting 1 January 2023. This will eventually pave the way for Singapore to become a global hub for talent - attracting individuals from various walks of life who are at the top of their game as global cities compete for their share of talents. The benchmark salary of S$30,000 is comparable to the top 5 per cent of EP holders in Singapore.
For more information and clarifications regarding the application and eligibility of the Overseas Networks & Expertise Pass, you may click to visit the MOM website.
Disclaimer: Please refer to MOM website for more information as changes may be made without any notice.
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View of Alexandra Vale, one of the two projects under the Prime Location Public Housing model launched in August 2022. (Photo: HDB)
The Housing and Development Board (HDB) on 30 August 2022 (Tuesday) launched 4,993 flats for sale under its August Build-to-Order (BTO) exercise. They will be spread across seven projects in both mature and non-mature estates - namely Ang Mo Kio, Bukit Merah, Choa Chu Kang, Jurong East, Tampines and Woodlands - including two projects in Bukit Merah under the Prime Location Public Housing (PLH) model: Alexandra Vale along Alexandra View and Havelock Hillside along Havelock Road,
Alexandra Vale PLH estate
Alexandra Vale is located along Alexandra View and is just a stone’s throw away from Redhill MRT station. It consists of 2 residential blocks, with each block ranging from 41 to 50 storeys high. One of the blocks will house some rental flats. You can choose from 782 units of 3- and 4-room flats. This development is offered under the Prime Location Public Housing (PLH) model.
The development’s towering residential blocks, terracing form of the Multi-Storey Car Park (MCSP), and lush landscaped greenery, create a green, valley-like space that inspires the name ‘Alexandra Vale’. The roof garden atop the MSCP cascades down towards the landscaped grounds, where existing mature trees have been retained, where possible.
The development comes with a childcare centre, a residents’ network centre, children’s playgrounds, as well as adult and elderly fitness stations. Please refer to the site plan located at the top of this page, for the facilities provided in Alexandra Vale. Facilities in this development will be accessible by the public.
Alexandra Vale PLH estate
Alexandra Vale is located along Alexandra View and is just a stone’s throw away from Redhill MRT station. It consists of 2 residential blocks, with each block ranging from 41 to 50 storeys high. One of the blocks will house some rental flats. You can choose from 782 units of 3- and 4-room flats. This development is offered under the Prime Location Public Housing (PLH) model.
The development’s towering residential blocks, terracing form of the Multi-Storey Car Park (MCSP), and lush landscaped greenery, create a green, valley-like space that inspires the name ‘Alexandra Vale’. The roof garden atop the MSCP cascades down towards the landscaped grounds, where existing mature trees have been retained, where possible.
The development comes with a childcare centre, a residents’ network centre, children’s playgrounds, as well as adult and elderly fitness stations. Please refer to the site plan located at the top of this page, for the facilities provided in Alexandra Vale. Facilities in this development will be accessible by the public.
Alexandra Vale is located along Alexandra View and is just a stone’s throw away from Redhill MRT station. It consists of 2 residential blocks, with each block ranging from 41 to 50 storeys high
To encourage green and sustainable living, Alexandra Vale will have several eco-friendly features such as:
Alexandra Vale will come with the following smart solutions to reduce energy usage, and contribute to a safer and more sustainable living environment:
Residents of Alexandra Vale will enjoy great convenience, being surrounded by amenities like Redhill MRT station, Delta Swimming Complex, and Delta Sports Hall. A neighborhood centre is located just across the road where residents can buy fresh produce at the Redhill Market or indulge in some yummy local delights at the Redhill Food Centre.
More amenities are located in the town to cater to residents’ various needs. These include the Alexandra Canal and Alexandra Park Connector, several community clubs and centres where you can pursue your hobbies, as well as Tiong Bahru Plaza and Tiong Bahru Market and Food Centre for your shopping and dining needs.
Alexandra Vale is served by the Central Expressway. Schools in the town include Zhangde Primary School, Gan Eng Seng Primary School, Gan Eng Seng School, and Crescent Girls’ Secondary School.
- Separate chutes for recyclable waste
- Regenerative lifts to reduce energy consumption
- Bicycle stands to encourage cycling as an environmentally-friendly form of transport
- Parking spaces to facilitate future provision of electric vehicle charging stations
- Use of sustainable products in the development
- Active, Beautiful, Clean Waters design features to clean rainwater and beautify the landscapes
Alexandra Vale will come with the following smart solutions to reduce energy usage, and contribute to a safer and more sustainable living environment:
- Smart-Enabled Homes with provisions to support easy installation of smart systems
- Smart Lighting in common areas to reduce energy usage
Residents of Alexandra Vale will enjoy great convenience, being surrounded by amenities like Redhill MRT station, Delta Swimming Complex, and Delta Sports Hall. A neighborhood centre is located just across the road where residents can buy fresh produce at the Redhill Market or indulge in some yummy local delights at the Redhill Food Centre.
More amenities are located in the town to cater to residents’ various needs. These include the Alexandra Canal and Alexandra Park Connector, several community clubs and centres where you can pursue your hobbies, as well as Tiong Bahru Plaza and Tiong Bahru Market and Food Centre for your shopping and dining needs.
Alexandra Vale is served by the Central Expressway. Schools in the town include Zhangde Primary School, Gan Eng Seng Primary School, Gan Eng Seng School, and Crescent Girls’ Secondary School.
View of Havelock Hillside, one of the two projects under the Prime Location Public Housing model. (Photo: HDB)
Havelock Hillside PLH estate
Havelock Hillside is located along Havelock Road near the upcoming Havelock MRT station on the Thomson-East Coast Line. The development comprises two residential blocks at 42-and 45-storey tall, and offers a total of 869 units of 3- and 4- room flats. Havelock Hillside is offered under the Prime Location Public Housing (PLH) model.
Building on the topography of the site, the design of Havelock Hillside draws inspiration from natural landscapes like meadow plains, green terraces, and hillocks, creating pockets of space for activities or rest. Each of the two high-rise residential blocks has its own precinct pavilion and are connected to the rooftop garden above the Multi-Storey Car Park (MCSP) via a unique curved link bridge. The residential blocks also come with sky terraces and roof gardens.
Havelock Hillside comes with a childcare centre, children’s playgrounds, as well as adult and elderly fitness stations. Please refer to the site plan located at the top of this page, for the facilities provided in this development. Facilities in this development will be accessible by the public.
Havelock Hillside is located along Havelock Road near the upcoming Havelock MRT station on the Thomson-East Coast Line. The development comprises two residential blocks at 42-and 45-storey tall, and offers a total of 869 units of 3- and 4- room flats. Havelock Hillside is offered under the Prime Location Public Housing (PLH) model.
Building on the topography of the site, the design of Havelock Hillside draws inspiration from natural landscapes like meadow plains, green terraces, and hillocks, creating pockets of space for activities or rest. Each of the two high-rise residential blocks has its own precinct pavilion and are connected to the rooftop garden above the Multi-Storey Car Park (MCSP) via a unique curved link bridge. The residential blocks also come with sky terraces and roof gardens.
Havelock Hillside comes with a childcare centre, children’s playgrounds, as well as adult and elderly fitness stations. Please refer to the site plan located at the top of this page, for the facilities provided in this development. Facilities in this development will be accessible by the public.
Havelock Hillside PLH estate is located along Havelock Road near the upcoming Havelock MRT station on the Thomson-East Coast Line. The development comprises two residential blocks at 42-and 45-storey tall, and offers a total of 869 units of 3- and 4- room flats.
The design of Havelock Hillside draws inspiration from natural landscapes like meadow plains, green terraces, and hillocks, creating pockets of space for activities or rest
Havelock Hillside is well-served by surrounding amenities like Kim Seng Community Centre, Havelock Road Cooked Food Centre, as well as a neighbourhood centre at Beo Crescent that comes with a market, food centre, and many retail shops.
More amenities are located in the town to cater to residents’ various needs. These include the Delta Sports Hall, Delta Swimming Complex, Alexandra Canal and Alexandra Park Connector, several more community clubs and centres where you can pursue your hobbies, as well as Tiong Bahru Plaza and Tiong Bahru Market and Food Centre for your shopping and dining needs.
Havelock Hillside is served by the Central Expressway. Schools in the town include Zhangde Primary School, Gan Eng Seng Primary School, Gan Eng Seng School, and Crescent Girls’ Secondary School.
To encourage green and sustainable living, Havelock Hillside will have several eco-friendly features such as:
Prices for flats at Alexandra Vale and Havelock Hillside are expected to start from S$370,000, without grants, for a three-room flat, and S$531,000 for a four-room flat according to HDB.
More amenities are located in the town to cater to residents’ various needs. These include the Delta Sports Hall, Delta Swimming Complex, Alexandra Canal and Alexandra Park Connector, several more community clubs and centres where you can pursue your hobbies, as well as Tiong Bahru Plaza and Tiong Bahru Market and Food Centre for your shopping and dining needs.
Havelock Hillside is served by the Central Expressway. Schools in the town include Zhangde Primary School, Gan Eng Seng Primary School, Gan Eng Seng School, and Crescent Girls’ Secondary School.
To encourage green and sustainable living, Havelock Hillside will have several eco-friendly features such as:
- Separate chutes for recyclable waste
- Regenerative lifts to reduce energy consumption
- Bicycle stands to encourage cycling as an environmentally-friendly form of transport
- Parking spaces to facilitate future provision of electric vehicle charging stations
- Use of sustainable products in the development
- Active, Beautiful, Clean Waters design features to clean rainwater and beautify the landscapes
Prices for flats at Alexandra Vale and Havelock Hillside are expected to start from S$370,000, without grants, for a three-room flat, and S$531,000 for a four-room flat according to HDB.
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Malaysian Prime Minister Ismail Sabri Yaakob speaking to foreign media including CNA in an interview to mark his first anniversary in office on Aug 22, 2022. (Photo: CNA/Salim Hanafiah)
Malaysian Prime Minister Ismail Sabri Yaakob said on 22 Aug (Monday) 2022 that Malaysia hopes to speed up the revival of the Kuala Lumpur-Singapore High Speed Rail (HSR) project with Singapore at the earliest date and that Malaysia is in discussion with Singapore on the revival of the aborted Kuala Lumpur-Singapore High Speed Rail (HSR) project but the HSR project's terms and conditions would see some changes according to Mr Ismail.
"It is an ongoing discussion. If possible, we want it to be speeded up because Malaysia also has plans to establish HSR between Kuala Lumpur and Bangkok," the prime minister said, as quoted by Bernama.
Outlining his vision, Mr Ismail said the railway line could go up to China, as China and Thailand are also in the process of building high-speed train line, Bernama reported.
Meanwhile, on the issue of reducing congestion on the Causeway and the Second Link, Mr Ismail said at the interview on Monday that the Malaysian government is looking into the need for a third link between Johor and Singapore, Bernama reported. "It is still at the planning stages; we will see if there is a need for it," he said.
"It is an ongoing discussion. If possible, we want it to be speeded up because Malaysia also has plans to establish HSR between Kuala Lumpur and Bangkok," the prime minister said, as quoted by Bernama.
Outlining his vision, Mr Ismail said the railway line could go up to China, as China and Thailand are also in the process of building high-speed train line, Bernama reported.
Meanwhile, on the issue of reducing congestion on the Causeway and the Second Link, Mr Ismail said at the interview on Monday that the Malaysian government is looking into the need for a third link between Johor and Singapore, Bernama reported. "It is still at the planning stages; we will see if there is a need for it," he said.
The fate of the Kuala Lumpur-Singapore High Speed Rail (HSR) project, which was touted to cut travel times between Singapore and Kuala Lumpur to 90 minutes, had long been thrown into doubt since Malaysians elected a new government to replace former prime minister Najib Razak’s in May 2018.
The 350km HSR was slated to have seven stations, and would have cut travel time between Kuala Lumpur and Singapore to 90 minutes, compared with more than four hours by car. The railway line was to be completed in 2026.
Shortly after coming into power in May 2018, then prime minister Mahathir Mohamad said that Malaysia wanted to cancel the Kuala Lumpur-Singapore High Speed Rail (HSR) project as part of measures to reduce his country’s huge national debt. Mahathir later declared the Kuala Lumpur-Singapore High Speed Rail (HSR) project would be postponed instead, and in September 2018, both countries agreed to defer it until May 31 in 2020, before the postponement was extended to Dec 31, 2020.
On 1st Jan (Friday) 2021, Prime Minister Lee Hsien Loong and his Malaysian counterpart Muhyiddin Yassin announced in a joint statement that the HSR bilateral agreement will be terminated with Malaysia agreeing to compensate Singapore for costs already incurred by Singapore in fulfilling its obligations under the HSR bilateral agreement in accordance with the parties’ agreement, the costs include the setting up of SG HSR — an infrastructure company that is a wholly owned subsidiary of the Land Transport Authority — which had already hired many employees to work on the project.
The 350km HSR was slated to have seven stations, and would have cut travel time between Kuala Lumpur and Singapore to 90 minutes, compared with more than four hours by car. The railway line was to be completed in 2026.
Shortly after coming into power in May 2018, then prime minister Mahathir Mohamad said that Malaysia wanted to cancel the Kuala Lumpur-Singapore High Speed Rail (HSR) project as part of measures to reduce his country’s huge national debt. Mahathir later declared the Kuala Lumpur-Singapore High Speed Rail (HSR) project would be postponed instead, and in September 2018, both countries agreed to defer it until May 31 in 2020, before the postponement was extended to Dec 31, 2020.
On 1st Jan (Friday) 2021, Prime Minister Lee Hsien Loong and his Malaysian counterpart Muhyiddin Yassin announced in a joint statement that the HSR bilateral agreement will be terminated with Malaysia agreeing to compensate Singapore for costs already incurred by Singapore in fulfilling its obligations under the HSR bilateral agreement in accordance with the parties’ agreement, the costs include the setting up of SG HSR — an infrastructure company that is a wholly owned subsidiary of the Land Transport Authority — which had already hired many employees to work on the project.
After the scrapping of the Kuala Lumpur-Singapore High Speed Rail (HSR), there were new plans suggested for the large tracts of land in Jurong previously earmarked for the HSR project - more private homes, community facilities and even a retirement village, which has mostly been scrapped to turn the western region of Singapore into a second central business district in future.
Real estate professional Kiwi Lim believe that Malaysia's new desire to speed up the revival of the Kuala Lumpur-Singapore High Speed Rail (HSR) project with Singapore is expected to generate renewed excitement in terms of property prices as well as commercial and retail activity in the Jurong-Lakeside District. The concept of a 'second CBD' was previously dashed without the HSR, but now this possibility may be revived and no longer deemed impossible. However, since Malaysia is expected to hold its next general election anytime soon, things may still change if there is a switch in leadership, especially when Malaysia has seen three different prime ministers within five years.
Both Singapore and Malaysia have pledged commitment to maintain good bilateral relations, and cooperate closely in various fields, including strengthening the connectivity between the two countries.
Real estate professional Kiwi Lim believe that Malaysia's new desire to speed up the revival of the Kuala Lumpur-Singapore High Speed Rail (HSR) project with Singapore is expected to generate renewed excitement in terms of property prices as well as commercial and retail activity in the Jurong-Lakeside District. The concept of a 'second CBD' was previously dashed without the HSR, but now this possibility may be revived and no longer deemed impossible. However, since Malaysia is expected to hold its next general election anytime soon, things may still change if there is a switch in leadership, especially when Malaysia has seen three different prime ministers within five years.
Both Singapore and Malaysia have pledged commitment to maintain good bilateral relations, and cooperate closely in various fields, including strengthening the connectivity between the two countries.
Straits Times online article 22 Aug 2022
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The 11 stations, which come under stage 3 of the TEL, run from Stevens to Gardens by the Bay is expected to be ready for passenger service by the end of this year in 2022 - Straits Times Graphics
On 17 August, the Land Transport Authority (LTA) officially handed over eleven new MRT stations along the Thomson-East Coast Line (TEL) including Orchard, Great World and Maxwell to transport operator SMRT setting a milestone to mark the completion of all civil, structural works, systems integration and testing activities for TEL stage 3.
The 11 stations, which come under stage 3 of the TEL, run from Stevens to Gardens by the Bay is expected to be ready for passenger service by the end of this year in 2022. Commuters taking the MRT directly from Springleaf to Great World City can look forward to saving more than 40 per cent in travel time compared to a 60-minute journey by bus and train. While TEL Stage 3 has 13 stations, two of them - Mount Pleasant and Marina South - will remain closed until developments around them are ready.
Below are the 11 stations that are set to open this year:
1. Stevens
The station along Stevens Road in Bukit Timah is already a Downtown Line station. Nearby landmarks include Raffles Town Club and Singapore Chinese Girls' School. There is also the Equatorial condominium complex, which used to be one of Singapore's most famous luxury hotels, the Hotel Equatorial.
2. Napier
The station in Napier Road is near Gleneagles Hospital, the Botanic Gardens and several embassies including the Australian High Commission, the United States Embassy, the Embassy of Indonesia, the Embassy of China and Singapore's Ministry of Foreign Affairs. The Dempsey Hill dining enclave is a short bus ride away.
3. Orchard Boulevard
Located slightly off Orchard Road along Orchard Boulevard, the station is near hotels such as The St. Regis Singapore, the Regent Singapore and JEN Singapore Tanglin by Shangri-La. It is also near the Singapore Tourism Board and the Hard Rock Cafe.
4. Orchard
Orchard MRT station is already on the North-South Line. Alighting here will give commuters access to Orchard Road and its malls including Wheelock Place, Ion Orchard and Wisma Atria.
5. Great World
The station in River Valley Road is near Great World City and Kim Seng Park, named after Peranakan philanthropist Tan Kim Seng. There are also a few hot selling new condominium projects like Irwell Hill Residences by CDL, Riviere by Frasers as well as the Amped Trampoline Park, which is the first facility of its kind, equipped with nearly 50 trampolines in an indoor studio.
The 11 stations, which come under stage 3 of the TEL, run from Stevens to Gardens by the Bay is expected to be ready for passenger service by the end of this year in 2022. Commuters taking the MRT directly from Springleaf to Great World City can look forward to saving more than 40 per cent in travel time compared to a 60-minute journey by bus and train. While TEL Stage 3 has 13 stations, two of them - Mount Pleasant and Marina South - will remain closed until developments around them are ready.
Below are the 11 stations that are set to open this year:
1. Stevens
The station along Stevens Road in Bukit Timah is already a Downtown Line station. Nearby landmarks include Raffles Town Club and Singapore Chinese Girls' School. There is also the Equatorial condominium complex, which used to be one of Singapore's most famous luxury hotels, the Hotel Equatorial.
2. Napier
The station in Napier Road is near Gleneagles Hospital, the Botanic Gardens and several embassies including the Australian High Commission, the United States Embassy, the Embassy of Indonesia, the Embassy of China and Singapore's Ministry of Foreign Affairs. The Dempsey Hill dining enclave is a short bus ride away.
3. Orchard Boulevard
Located slightly off Orchard Road along Orchard Boulevard, the station is near hotels such as The St. Regis Singapore, the Regent Singapore and JEN Singapore Tanglin by Shangri-La. It is also near the Singapore Tourism Board and the Hard Rock Cafe.
4. Orchard
Orchard MRT station is already on the North-South Line. Alighting here will give commuters access to Orchard Road and its malls including Wheelock Place, Ion Orchard and Wisma Atria.
5. Great World
The station in River Valley Road is near Great World City and Kim Seng Park, named after Peranakan philanthropist Tan Kim Seng. There are also a few hot selling new condominium projects like Irwell Hill Residences by CDL, Riviere by Frasers as well as the Amped Trampoline Park, which is the first facility of its kind, equipped with nearly 50 trampolines in an indoor studio.
The 11 stations, which come under stage 3 of the TEL, run from Stevens to Gardens by the Bay is expected to be ready for passenger service by the end of this year in 2022 - Straits Times Graphics
6. Havelock
Havelock MRT station in Zion Road is near Concorde Shopping Centre and the waterfront avenue next to Grand Copthorne Waterfront Hotel Singapore. It is also near Bukit Ho Swee, where one of the most major kampung fires broke out in 1961 and destroyed the homes of nearly 16,000 people. Within walking distance is the Taoist Giok Hong Tian Temple, which has survived multiple fires in Singapore's history and is today one of the oldest temples in the country.
7. Outram Park
Outram Park MRT station in Outram Road will become a major interchange connected to three lines: the TEL, the East-West Line and the North-East Line. The station is located near the Singapore General Hospital, Outram Polyclinic, the Health Promotion Board, the National Dental Centre and the Health Sciences Authority building. Also within walking distance is the Everton Park area lined with conservation shophouses, private art galleries, cafes and pottery studios as well as three new condo projects like One Pearl Bank by Capitaland and The Landmark by MCC Land and Avenue South Residence by UOL.
8. Maxwell
Maxwell MRT station in Neil Road is near the Kreta Ayer People's Theatre, funded by public donations in 1969 to bring Chinese opera to the public. The station is located next to the famous Maxwell Food Centre, and near many religious sites such as the Sri Mariamman Temple and Thian Hock Keng Temple, as well as Ann Siang Road, known for its nightlife.
9. Shenton Way
This station in Park Street is at the heart of the Central Business District, near the UIC Building, Shenton House and the Marina One towers.
Havelock MRT station in Zion Road is near Concorde Shopping Centre and the waterfront avenue next to Grand Copthorne Waterfront Hotel Singapore. It is also near Bukit Ho Swee, where one of the most major kampung fires broke out in 1961 and destroyed the homes of nearly 16,000 people. Within walking distance is the Taoist Giok Hong Tian Temple, which has survived multiple fires in Singapore's history and is today one of the oldest temples in the country.
7. Outram Park
Outram Park MRT station in Outram Road will become a major interchange connected to three lines: the TEL, the East-West Line and the North-East Line. The station is located near the Singapore General Hospital, Outram Polyclinic, the Health Promotion Board, the National Dental Centre and the Health Sciences Authority building. Also within walking distance is the Everton Park area lined with conservation shophouses, private art galleries, cafes and pottery studios as well as three new condo projects like One Pearl Bank by Capitaland and The Landmark by MCC Land and Avenue South Residence by UOL.
8. Maxwell
Maxwell MRT station in Neil Road is near the Kreta Ayer People's Theatre, funded by public donations in 1969 to bring Chinese opera to the public. The station is located next to the famous Maxwell Food Centre, and near many religious sites such as the Sri Mariamman Temple and Thian Hock Keng Temple, as well as Ann Siang Road, known for its nightlife.
9. Shenton Way
This station in Park Street is at the heart of the Central Business District, near the UIC Building, Shenton House and the Marina One towers.
The 11 stations, which come under stage 3 of the TEL, run from Stevens to Gardens by the Bay is expected to be ready for passenger service by the end of this year in 2022 - Straits Times Graphics
10. Marina Bay
Like Outram Park station, Marina Bay station in Park Street will be connected to three MRT lines: TEL, Circle Line and North-South Line. It is near the Marina One towers and Marina Bay Financial Centre.
11. Gardens by the Bay
This station will give commuters another option to get to Gardens by the Bay. The attraction is currently served by Bayfront MRT station, which is an interchange station on the Circle Line and the Downtown Line. The Marina Barrage is also near this new station, which is located in Marina Gardens Drive.
The entire Thomson-East Coast Line – comprising 32 stations with eight interchange stations was initially expected to be fully operational in 2024. The MRT line stretches to the eastern part of Singapore, including Bayshore, Siglap and Marine Parade. However, the timeline for completion had been pushed back due to the COVID-19 pandemic and manpower constraints. Once the TEL line is fully completed, more than 240,000 households will be within a 10-minute walk from a TEL station.
The government has previously announced that by 2030, eight in ten households will be within a ten minute walk to a MRT station. By 2026, three stations will be added between HarbourFront and Marina Bay MRT stations, closing the loop for the Circle Line. By around 2027, 24 stations on the Jurong Region Line (JRL) serving the north-western part of Singapore, connecting towns like Choa Chu Kang, Tengah and Jurong to Nanyang Technological University are expected to be completed and from 2030, the Cross Island Line is projected to be completed in several stages.
Like Outram Park station, Marina Bay station in Park Street will be connected to three MRT lines: TEL, Circle Line and North-South Line. It is near the Marina One towers and Marina Bay Financial Centre.
11. Gardens by the Bay
This station will give commuters another option to get to Gardens by the Bay. The attraction is currently served by Bayfront MRT station, which is an interchange station on the Circle Line and the Downtown Line. The Marina Barrage is also near this new station, which is located in Marina Gardens Drive.
The entire Thomson-East Coast Line – comprising 32 stations with eight interchange stations was initially expected to be fully operational in 2024. The MRT line stretches to the eastern part of Singapore, including Bayshore, Siglap and Marine Parade. However, the timeline for completion had been pushed back due to the COVID-19 pandemic and manpower constraints. Once the TEL line is fully completed, more than 240,000 households will be within a 10-minute walk from a TEL station.
The government has previously announced that by 2030, eight in ten households will be within a ten minute walk to a MRT station. By 2026, three stations will be added between HarbourFront and Marina Bay MRT stations, closing the loop for the Circle Line. By around 2027, 24 stations on the Jurong Region Line (JRL) serving the north-western part of Singapore, connecting towns like Choa Chu Kang, Tengah and Jurong to Nanyang Technological University are expected to be completed and from 2030, the Cross Island Line is projected to be completed in several stages.
Straits Times online on 19 August 2022
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A fire engulfed Mr Lim Guo Liang’s two-storey Tampines maisonette flat on July 3, 2019. It cost the family around $90,000 to restore and renovate the flat. PHOTOS: SHIN MIN DAILY NEWS
Victims of home fires often regretted not purchasing home insurance or not getting adequate coverage for their homes in their home fire insurance policies. Fire insurance alone is not sufficient to cover the full costs of a fire in one's home and home owners are advised to purchase a home insurance policy as well to cover the potential damage to their home's contents, as well as any damage caused to their neighbour's property. In a densely populated nation like Singapore, it is not uncommon for fires to spread beyond a unit or to neighboring houses, even for landed properties.
Home Fire Insurance
Fire insurance covers only the expenses incurred to restore a building's structural integrity after a fire.
Home Insurance
Home insurance is more comprehensive, typically covering personal property, removal of debris and alternative accommodation during renovations.
It is important for home owners to know the coverage of the home insurance plan they have purchased. There is a misconception among some home owners that home insurance insures the amount they had paid for the property. Home insurance claims cover only the cost of reconstructing the property, and it is almost always lower than the market value of the property. Rebuilding a home damaged by fire and other unexpected perils, and counting the losses of your destroyed home contents, can be costly if you do not have a comprehensive home insurance plan.
Home Fire Insurance
Fire insurance covers only the expenses incurred to restore a building's structural integrity after a fire.
Home Insurance
Home insurance is more comprehensive, typically covering personal property, removal of debris and alternative accommodation during renovations.
It is important for home owners to know the coverage of the home insurance plan they have purchased. There is a misconception among some home owners that home insurance insures the amount they had paid for the property. Home insurance claims cover only the cost of reconstructing the property, and it is almost always lower than the market value of the property. Rebuilding a home damaged by fire and other unexpected perils, and counting the losses of your destroyed home contents, can be costly if you do not have a comprehensive home insurance plan.
Image from MSIG
Just this year alone, at least three fires this year have resulted in deaths.
On 16 Aug (Tues) morning a fire broke out in a ninth-storey flat in Jurong East where one resident was killed and three others rescued from a next door unit. In May, a Bedok North flat fire killed three people including a three-year-old, and in March, another fire in a New Upper Changi Road flat claimed one life.
HDB Fire Insurance Enough?
A common misconception among many HDB homeowners is that the Housing Development Board (HDB)'s fire insurance - which is mandatory with every purchase of a HDB flat - is enough.
Housing Development Board's fire insurance cover is very basic as the insured value is limited to either the outstanding loan amount or the cost of reinstating the building structure. HDB's fire insurance scheme does not include household contents such as furniture and personal belongings, or the cost of work done during renovations.
Therefore it is important for a separate policy covering incidental costs such as the loss of rent, damages to third-party property, renovations, alternative accommodations during renovations and content of the house, etc. However, many home owners do not see home insurance as an essential purchase. These are important elements to consider, especially if there is widespread damage to the property.
Real estate professional Kiwi Lim felt home insurance premium is low when compared to cost of property and its contents. Depending on the coverage, annual premiums usually range from $50 to $350 per $100,000 coverage. Insurers often bundle a variety of benefits factored into the premiums. A good home insurance will cover both the building structure and the home contents. In other words, it is a combination of fire insurance and home contents insurance. Therefore examine your policy and look through your risk exposure carefully when choosing your insurer.
On 16 Aug (Tues) morning a fire broke out in a ninth-storey flat in Jurong East where one resident was killed and three others rescued from a next door unit. In May, a Bedok North flat fire killed three people including a three-year-old, and in March, another fire in a New Upper Changi Road flat claimed one life.
HDB Fire Insurance Enough?
A common misconception among many HDB homeowners is that the Housing Development Board (HDB)'s fire insurance - which is mandatory with every purchase of a HDB flat - is enough.
Housing Development Board's fire insurance cover is very basic as the insured value is limited to either the outstanding loan amount or the cost of reinstating the building structure. HDB's fire insurance scheme does not include household contents such as furniture and personal belongings, or the cost of work done during renovations.
Therefore it is important for a separate policy covering incidental costs such as the loss of rent, damages to third-party property, renovations, alternative accommodations during renovations and content of the house, etc. However, many home owners do not see home insurance as an essential purchase. These are important elements to consider, especially if there is widespread damage to the property.
Real estate professional Kiwi Lim felt home insurance premium is low when compared to cost of property and its contents. Depending on the coverage, annual premiums usually range from $50 to $350 per $100,000 coverage. Insurers often bundle a variety of benefits factored into the premiums. A good home insurance will cover both the building structure and the home contents. In other words, it is a combination of fire insurance and home contents insurance. Therefore examine your policy and look through your risk exposure carefully when choosing your insurer.
- Published on
Is the enbloc fever back again in 2022?
After 17th January 2019, where URA announced that developers will face new restrictions on the number of units they can squeeze into a development meaning for land outside the Core Central Region of Singapore, the maximum number of units allowed will be the Gross Floor Area (GFA) divided by 85 square metres (sqm) whereas in some areas, the restrictions are even stricter, e.g, in Pasir Panjang the allowable number of units is the GFA divided by 100 sqm.
This restriction, together with a slew of announcements by the government effectively ended the en-bloc fever that saw around 100 private residential developments being acquired by various property developers in Singapore creating more than 9,000 millionaire households. Some bought properties immediately for their new accommodation but almost half of them kept the funds.
Real estate professional Kiwi Lim believe that during the Circuit Breaker period in 2020 when Covid-19 threaten to bring down the healthcare system in Singapore, families realized they need more space and probably used these funds to acquire more properties either for investment or for family members to have their own private space thus driving the property market in Singapore to new heights.
This restriction, together with a slew of announcements by the government effectively ended the en-bloc fever that saw around 100 private residential developments being acquired by various property developers in Singapore creating more than 9,000 millionaire households. Some bought properties immediately for their new accommodation but almost half of them kept the funds.
Real estate professional Kiwi Lim believe that during the Circuit Breaker period in 2020 when Covid-19 threaten to bring down the healthcare system in Singapore, families realized they need more space and probably used these funds to acquire more properties either for investment or for family members to have their own private space thus driving the property market in Singapore to new heights.
However, it seems the en bloc fever is building up again with at least 11 private residential developments being acquired by developers in the first half of this year 2022, e.g. Park View Mansions, Lakeside Apartments, Tanglin Shopping Centre (commercial), Chuan Park, Gloria Mansion, Golden Mile Complex, 173-183 Haig Road, etc. Last year in 2021, there were only about 10 private residential developments being acquired through en-bloc or private treaties.
To date, more than 20 other developments, including the latest freehold private residential development Trendale Tower also started the collective sale process just months after the government’s market cooling measures announced in December 2021 that triggered a slight knee jerk reaction which lasted for about two months before the buying resumed due to strong local demand for property.
On 11 Aug, it was announced that Trendale Tower has been put up for sale again, this time with a higher guide price of S$178 million via a public tender exercise. Situated at 79 Cairnhill Road, the 20-storey development houses 18 apartments of 298 square metres each, which works out to S$2,386 per plot ratio after factoring in the 7 per cent bonus gross floor area for balconies. Excluding the bonus gross floor area, the guide price rounds to S$2,449 per plot ratio. The nearest MRT station is Newton station, only less than 500 metres away and future residents will have access to schools like Anglo-Chinese School (Primary), Anglo-Chinese School (Primary) and EtonHouse International Pre-School, which are situated within 1 kilometre of the development.
To date, more than 20 other developments, including the latest freehold private residential development Trendale Tower also started the collective sale process just months after the government’s market cooling measures announced in December 2021 that triggered a slight knee jerk reaction which lasted for about two months before the buying resumed due to strong local demand for property.
On 11 Aug, it was announced that Trendale Tower has been put up for sale again, this time with a higher guide price of S$178 million via a public tender exercise. Situated at 79 Cairnhill Road, the 20-storey development houses 18 apartments of 298 square metres each, which works out to S$2,386 per plot ratio after factoring in the 7 per cent bonus gross floor area for balconies. Excluding the bonus gross floor area, the guide price rounds to S$2,449 per plot ratio. The nearest MRT station is Newton station, only less than 500 metres away and future residents will have access to schools like Anglo-Chinese School (Primary), Anglo-Chinese School (Primary) and EtonHouse International Pre-School, which are situated within 1 kilometre of the development.
Enbloc or enbloc potentials - ST Graphics
Below are a list of some private developments that are on developer's shopping list of en-bloc / private acquisitions as compiled from Business Times.
ORCHARD, OXLEY, RIVER VALLEY, TANGLIN:
High Point
Asking: S$550 million Tenure: Freehold
Land rate: S$2,508 psf ppr Land area: 47,606 sq ft
Elizabeth Towers
Asking: S$630 million Tenure: Freehold
Land rate: S$2,400 psf ppr Land area: 54,317 sq ft
Oxley Garden
Asking: S$200 million Tenure: Freehold
Land rate: S$2,346 psf ppr Land area: 58,207 sq ft
5 Oxley Rise
Asking: S$300 million Tenure: Freehold
Land rate: S$1,984 psf Land area: 151,205 sq ft
The Beaumont
Asking: S$468 million Tenure: Freehold
Land rate: S$2,448 psf Land area: 74,739 sq ft
Orchard Bel Air
Asking: S$587.5 million Tenure: 99-year leasehold
Land rate: S$2,600 psf ppr Land area: 93,126 sq ft
ORCHARD, OXLEY, RIVER VALLEY, TANGLIN:
High Point
Asking: S$550 million Tenure: Freehold
Land rate: S$2,508 psf ppr Land area: 47,606 sq ft
Elizabeth Towers
Asking: S$630 million Tenure: Freehold
Land rate: S$2,400 psf ppr Land area: 54,317 sq ft
Oxley Garden
Asking: S$200 million Tenure: Freehold
Land rate: S$2,346 psf ppr Land area: 58,207 sq ft
5 Oxley Rise
Asking: S$300 million Tenure: Freehold
Land rate: S$1,984 psf Land area: 151,205 sq ft
The Beaumont
Asking: S$468 million Tenure: Freehold
Land rate: S$2,448 psf Land area: 74,739 sq ft
Orchard Bel Air
Asking: S$587.5 million Tenure: 99-year leasehold
Land rate: S$2,600 psf ppr Land area: 93,126 sq ft
Enbloc or enbloc potentials - ST Graphics
JURONG:
Lakepoint Condo
Asking: S$640 million Tenure: 99-year leasehold
Land rate: S$988 psf ppr Land area: 562,286 sq ft
THOMSON:
Thomson View Condo
Asking: S$950 million Tenure: 99-year leasehold
Land rate: S$1,294 psf ppr Land area: 540,319 sq ft
SERANGOON:
Kensington Park
Asking: S$1.28 billion Tenure: 999-year leasehold
Land rate: S$1,414 psf ppr Land area: 491,000 sq ft
EAST COAST:
Meyer Park
Asking: S$420 million Tenure: Freehold
Land rate: S$1,720 psf ppr Land area: 96,672 sq ft
KALLANG:
Sultan Plaza
Asking: S$360 million Tenure: 99-year leasehold
Land rate: S$1,549 psf ppf (mixed use), S$1,629 psf ppr (hotel)
Land area: 63,440 sq ft* *including adjoining state land
DOWNTOWN:
People’s Park Centre
Asking: S$1.8 billion Tenure: 99-year leasehold
Land rate: S$2,620 psf ppr Land area: 95,467 sq ft
International Plaza
Asking: S$2.7 billion Tenure: 99-year leasehold
Land rate: S$2,448 psf ppr Land area: 75,090 sq ft
Lakepoint Condo
Asking: S$640 million Tenure: 99-year leasehold
Land rate: S$988 psf ppr Land area: 562,286 sq ft
THOMSON:
Thomson View Condo
Asking: S$950 million Tenure: 99-year leasehold
Land rate: S$1,294 psf ppr Land area: 540,319 sq ft
SERANGOON:
Kensington Park
Asking: S$1.28 billion Tenure: 999-year leasehold
Land rate: S$1,414 psf ppr Land area: 491,000 sq ft
EAST COAST:
Meyer Park
Asking: S$420 million Tenure: Freehold
Land rate: S$1,720 psf ppr Land area: 96,672 sq ft
KALLANG:
Sultan Plaza
Asking: S$360 million Tenure: 99-year leasehold
Land rate: S$1,549 psf ppf (mixed use), S$1,629 psf ppr (hotel)
Land area: 63,440 sq ft* *including adjoining state land
DOWNTOWN:
People’s Park Centre
Asking: S$1.8 billion Tenure: 99-year leasehold
Land rate: S$2,620 psf ppr Land area: 95,467 sq ft
International Plaza
Asking: S$2.7 billion Tenure: 99-year leasehold
Land rate: S$2,448 psf ppr Land area: 75,090 sq ft
Enbloc or enbloc potentials - ST Graphics
Developers will always need land parcels to build on and en-bloc will always be a possibility as Singapore is faced with tight land constraint and if the number of new government land sales (GLS) are insufficient to satisfy the property market demand, we will see a situation where developers will start looking for private residential developments with en-bloc potential.
Faced with the possibility of a recession in Europe and United States next year, Kiwi Lim felt developers are currently more keen to target smaller plots for en-bloc in order to reduce their exposure to economic risks even though Singapore is not likely to see a recession next year. Therefore, “bite-sized” smaller older developments could still attract developer’s attention. Kiwi expects around 20 private residential / commercial developments to enbloc this year - approximately double of last year.
Faced with the possibility of a recession in Europe and United States next year, Kiwi Lim felt developers are currently more keen to target smaller plots for en-bloc in order to reduce their exposure to economic risks even though Singapore is not likely to see a recession next year. Therefore, “bite-sized” smaller older developments could still attract developer’s attention. Kiwi expects around 20 private residential / commercial developments to enbloc this year - approximately double of last year.
Extracted from Business Times and Straits Times online
- Published on
Jack Ma and Alibaba will have the biggest slice of Singapore’s tallest tower
URA spokesperson said on 5 August (Friday) that they approved a building in Shenton Way with a building height of 305m at 8 Shenton Way - the highest granted by the authority for developments in Singapore.
The grant of written permission dated 7 July for the proposal by China tech giant Alibaba and a consortium of companies led by real estate firm Perennial Holdings to redevelop the AXA Tower at 8 Shenton Way into a 63-storey mixed-use skyscraper measuring up to 148,450 square metres (1.6 million square feet) in total space.
About 60 percent of the building’s permitted gross floor area may be dedicated to commercial use, with around 33 percent allocated for 215 “residential flats with sky terraces”, while the remaining percentage of space usage will be allocated for hotel component and set aside for balconies, indoor recreational space and the rooftop.
According to URA, the allowable building heights are subject to technical requirements as well as evaluation based on respective site context. Developments would have to be built in accordance to the approved plans and guidelines.
The grant of written permission dated 7 July for the proposal by China tech giant Alibaba and a consortium of companies led by real estate firm Perennial Holdings to redevelop the AXA Tower at 8 Shenton Way into a 63-storey mixed-use skyscraper measuring up to 148,450 square metres (1.6 million square feet) in total space.
About 60 percent of the building’s permitted gross floor area may be dedicated to commercial use, with around 33 percent allocated for 215 “residential flats with sky terraces”, while the remaining percentage of space usage will be allocated for hotel component and set aside for balconies, indoor recreational space and the rooftop.
According to URA, the allowable building heights are subject to technical requirements as well as evaluation based on respective site context. Developments would have to be built in accordance to the approved plans and guidelines.
The building will be located at 8 Shenton Way. (Photo: Perennial Holdings Private Limited)
The towering skyscraper, which has a maximum approved height of 305 meters, is set to be taller than Singapore’s current tallest building – the 284-meter Tanjong Pagar Centre's Guoco Tower. Expected to be completed in 2028, the iconic building has plans to include retail, restaurant, office, hotel, and residential components, with a gross floor area of 148,450 square meters.
Currently the tallest building in Singapore is Guoco Tower at Tanjong Pagar Centre which is a mixed-use development skyscraper in Tanjong Pagar of the Downtown Core district of Singapore. With a height of 283.7 m, it broke the record held jointly by UOB Plaza, One Raffles Place and Republic Plaza for more than 20 years. The residential component of Guoco Tower is Wallich Residence.
Wallich Residence situated in Singapore’s CBD contains 181 prestigious homes which offer stunning city views. Wallich Residence is designed by world-renowned Skidmore, Ownings & Merrill, they are the same architects who designed One World Trade Centre in New York (2014), Trump Tower (2009), Burj Khalifa (2010), and Willis Tower (1973).
Currently the tallest building in Singapore is Guoco Tower at Tanjong Pagar Centre which is a mixed-use development skyscraper in Tanjong Pagar of the Downtown Core district of Singapore. With a height of 283.7 m, it broke the record held jointly by UOB Plaza, One Raffles Place and Republic Plaza for more than 20 years. The residential component of Guoco Tower is Wallich Residence.
Wallich Residence situated in Singapore’s CBD contains 181 prestigious homes which offer stunning city views. Wallich Residence is designed by world-renowned Skidmore, Ownings & Merrill, they are the same architects who designed One World Trade Centre in New York (2014), Trump Tower (2009), Burj Khalifa (2010), and Willis Tower (1973).
Residents of Wallich Residence enjoys privileges such as a priceless, bird’s-eye view of the city from the Sky Gardens and the Viewing Deck, as well as the Viewing Deck at the Apex located at Level 62.
The Merdeka 118 tower will stand at 678.9m. PHOTO: THE STAR/ASIA NEWS NETWORK
Scheduled for completion by 2028 based on earlier announcements, the new mixed skyscraper at 8 Shenton Way will dethrone the 64-storey Guoco Tower as the tallest skyscraper in Singapore a little over a decade after GuocoLand completed the tower in 2016.
However, this still pales in comparison to Malaysia who will set another world record when its megatall structure, The Merdeka 118 Tower, touted as the world's second tallest building, is due for completion by mid-2023, according to the developer at nearly 700 metres above sea level.
Merdeka 118's current architectural height is about 644 metres, measured from the ground all the way to the top. The true height of the 118-floor megatall structure in Kuala Lumpur is expected to be revealed next year, when it is fully completed.
However, this still pales in comparison to Malaysia who will set another world record when its megatall structure, The Merdeka 118 Tower, touted as the world's second tallest building, is due for completion by mid-2023, according to the developer at nearly 700 metres above sea level.
Merdeka 118's current architectural height is about 644 metres, measured from the ground all the way to the top. The true height of the 118-floor megatall structure in Kuala Lumpur is expected to be revealed next year, when it is fully completed.
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