- Published on
The new rule may see future condo units with smaller aircon ledges
The Urban Redevelopment Authority (URA) recently issued a circular on harmonisation of floor area definitions which is expected to impact all developers who successfully bid for government land sales (GLS) from 1 June 2023 onwards. It is unclear if it will also affect developers who procured land parcels thru enbloc sales also known as a collective sale.
These new changes described in the circular is to be adopted by 4 government agencies: URA, Singapore Land Authority (SLA), Building and Construction Authority (BCA) and Singapore Civil Defence Force (SCDF).
Under the new standardised definition, all strata areas will have to be included as gross floor area(GFA), which is limited by the Master Plan plot ratio for the site.
Currently, such aircon ledge spaces make up around 4% to 5% of the total saleable area of the private residential unit which buyers pay for as residential property developers sell the aircon ledge spaces as part of the payable strata area of condo units. But due to current computation, this aircon ledge area is not charged by the government and therefore is actually considered free of charge to developers.
These new changes described in the circular is to be adopted by 4 government agencies: URA, Singapore Land Authority (SLA), Building and Construction Authority (BCA) and Singapore Civil Defence Force (SCDF).
Under the new standardised definition, all strata areas will have to be included as gross floor area(GFA), which is limited by the Master Plan plot ratio for the site.
Currently, such aircon ledge spaces make up around 4% to 5% of the total saleable area of the private residential unit which buyers pay for as residential property developers sell the aircon ledge spaces as part of the payable strata area of condo units. But due to current computation, this aircon ledge area is not charged by the government and therefore is actually considered free of charge to developers.
Many complaints about oversized aircon ledges
Throughout the past few years, we have seen many cases of homeowners complaining about oversized aircon ledges - some almost the length of a bus - in newly built condominiums all across Singapore casting the spotlight on this loophole that allows developers to build them without having them counted as part of the gross floor area (GFA). Yet, developers are allowed to charge home buyers for that same space.
Some property analysts estimate that each year, Singapore's private property owners pay approximately $800 million to developers for air-con ledges. Many feel that it is time for that the authorities take away the GFA exemption for these aircon ledges - just as what the authorities did for planter boxes and bay windows around 13 years ago when the Urban Redevelopment Authority made the move on 1 Jan 2009 after noticing that some developers had been exploiting the loophole for profit.
Throughout the past few years, we have seen many cases of homeowners complaining about oversized aircon ledges - some almost the length of a bus - in newly built condominiums all across Singapore casting the spotlight on this loophole that allows developers to build them without having them counted as part of the gross floor area (GFA). Yet, developers are allowed to charge home buyers for that same space.
Some property analysts estimate that each year, Singapore's private property owners pay approximately $800 million to developers for air-con ledges. Many feel that it is time for that the authorities take away the GFA exemption for these aircon ledges - just as what the authorities did for planter boxes and bay windows around 13 years ago when the Urban Redevelopment Authority made the move on 1 Jan 2009 after noticing that some developers had been exploiting the loophole for profit.
How will this new rule affect property prices in future?
Real estate professional Kiwi Lim says developers usually use their free aircon ledge space to average out the overall cost price per square foot of the whole apartment to offer a lower overall per square foot selling price to buyers after taking into account the free aircon ledge space that the government does not charge developers for.
If this new rule kicks in for future Government Land Sale (GLS) land parcels, we may see developers in a dilemma. They need land parcels to continue building properties in order to keep their tens of thousands of staff employed and therefore they have to keep bidding and securing more land parcels. Should they continue to compete and bid higher for the GLS land parcels to secure more land for new projects to bring in revenue? If they hesitate to pay higher prices for the GLS land parcels, they may secure no new projects and may need to retrench. If they bid for the new GLS land parcels, they will have to charge higher per square foot prices for future condo projects because they no longer have the free aircon-ledge buffer space to bring down their average per square foot price.
Real estate professional Kiwi Lim says developers usually use their free aircon ledge space to average out the overall cost price per square foot of the whole apartment to offer a lower overall per square foot selling price to buyers after taking into account the free aircon ledge space that the government does not charge developers for.
If this new rule kicks in for future Government Land Sale (GLS) land parcels, we may see developers in a dilemma. They need land parcels to continue building properties in order to keep their tens of thousands of staff employed and therefore they have to keep bidding and securing more land parcels. Should they continue to compete and bid higher for the GLS land parcels to secure more land for new projects to bring in revenue? If they hesitate to pay higher prices for the GLS land parcels, they may secure no new projects and may need to retrench. If they bid for the new GLS land parcels, they will have to charge higher per square foot prices for future condo projects because they no longer have the free aircon-ledge buffer space to bring down their average per square foot price.
Straits Times online on 22 Sept 2022
If you find this article useful, please help me click share on your Facebook or Twitter
- Published on
Lentor Modern sold more than 84% of its total units on its preview day with prices breaching $2,400 psf
Lentor Modern sold more than 84% during its preview sale yesterday on 17 Sept 2022 (Saturday) as property giant GuocoLand launched the 605-unit integrated mixed-use development in Ang Mo Kio area with prices starting from $1,880 per square foot (psf) onwards. By late afternoon, prices of Lentor Modern were seen selling above $2,400 per square foot (psf) for 2 bedroom units as more than 1,400 cheques from interested buyers were received by Guocoland. Some units saw prices selling above S$2,500 per square foot (psf) towards the end of the sales preview.
Lentor Modern is integrated with Lentor MRT station on the Thomson-East Coast Line, comprising of one bedroom to four bedroom condo units ranging from 527 sq ft to 1,528 sq ft. Prices for Lentor Modern's one bedroom units started at prices ranging from $$1.07 million for a 527 sqft unit, to S$3.33 million for a 1,528 sqft four bedroom unit.
The 99-year leasehold plot of land at Lentor Central was successfully bidded by Guocoland at a price that translates to a land rate of $1,204 per square foot per plot ratio (psf ppr). It is situated close to schools such as Anderson Primary, CHIJ St Nicholas Girls, Catholic High, Presbyterian High, Raffles Institution and Anderson Serangoon Junior College, as well as Nanyang Polytechnic and the French International School. Lentor Modern is also located near plenty of green space, including Thomson Nature and Bishan parks, the upper and lower Seletar Reservoir areas and Lower Peirce Reservoir Park.
Real estate professional Kiwi Lim said it is no surprise that Lentor Modern sold more than 84% on its sales launch as high demand was expected following the success of AMO Residence, where 98% were sold during its launch in July and Sky Eden@Bedok which sold more than 75% last week.
Lentor Modern is integrated with Lentor MRT station on the Thomson-East Coast Line, comprising of one bedroom to four bedroom condo units ranging from 527 sq ft to 1,528 sq ft. Prices for Lentor Modern's one bedroom units started at prices ranging from $$1.07 million for a 527 sqft unit, to S$3.33 million for a 1,528 sqft four bedroom unit.
The 99-year leasehold plot of land at Lentor Central was successfully bidded by Guocoland at a price that translates to a land rate of $1,204 per square foot per plot ratio (psf ppr). It is situated close to schools such as Anderson Primary, CHIJ St Nicholas Girls, Catholic High, Presbyterian High, Raffles Institution and Anderson Serangoon Junior College, as well as Nanyang Polytechnic and the French International School. Lentor Modern is also located near plenty of green space, including Thomson Nature and Bishan parks, the upper and lower Seletar Reservoir areas and Lower Peirce Reservoir Park.
Real estate professional Kiwi Lim said it is no surprise that Lentor Modern sold more than 84% on its sales launch as high demand was expected following the success of AMO Residence, where 98% were sold during its launch in July and Sky Eden@Bedok which sold more than 75% last week.
AMO Residence was the first OCR new condo project to test the psychological barrier of mass market home buyers in its launch in July this year
What does OCR, RCR and CCR mean?
RCR refers to the Rest of Central Region which are usually city fringe areas and are typically very sought-after, e.g. Tiong Bahru, Telok Blangah, Queenstown and Boon Keng, etc. For those who work in the CBD or who frequently travel to the city centre for leisure, RCR properties can offer greater convenience. Some RCR new condo projects in this area are seeing condo units selling at prices above $3,700 per square foot (psf) recently.
CCR refers to the Core Central Region which covers the city area and some other prime locations most desired by savvy home buyers and property investors. We usually see the priciest properties located in these areas. We have seen latest transactions of new condo projects above $6,000 psf in the CCR region.
OCR refers to the planning areas which are Outside the Central Region which essentially means all of Singapore except the RCR and CCR regions. OCR properties are located farther away from the city centre and include suburban areas like Jurong, Woodlands, Yishun and Changi. OCR properties located within walking distance of an MRT station tend to be more sought-after due to their better connectivity. New condo prices in the OCR are usually the most affordably priced in order to attract HDB upgraders.
RCR refers to the Rest of Central Region which are usually city fringe areas and are typically very sought-after, e.g. Tiong Bahru, Telok Blangah, Queenstown and Boon Keng, etc. For those who work in the CBD or who frequently travel to the city centre for leisure, RCR properties can offer greater convenience. Some RCR new condo projects in this area are seeing condo units selling at prices above $3,700 per square foot (psf) recently.
CCR refers to the Core Central Region which covers the city area and some other prime locations most desired by savvy home buyers and property investors. We usually see the priciest properties located in these areas. We have seen latest transactions of new condo projects above $6,000 psf in the CCR region.
OCR refers to the planning areas which are Outside the Central Region which essentially means all of Singapore except the RCR and CCR regions. OCR properties are located farther away from the city centre and include suburban areas like Jurong, Woodlands, Yishun and Changi. OCR properties located within walking distance of an MRT station tend to be more sought-after due to their better connectivity. New condo prices in the OCR are usually the most affordably priced in order to attract HDB upgraders.
Is the price disparity between OCR and RCR narrowing?
Recent new condo launches in the mass market OCR locations have seen prices reaching above $2,400 per square foot (psf), this may make some city fringe RCR new condo projects look attractive, e.g. The Landmark - a beautiful exclusive city fringe new condo located on a hillside near the alluring Singapore River, expected to TOP in 2024 selling from $2,2xx per square foot (psf). One Pearl Bank also takes the cake with its amazingly iconic design and envious location of being situated on the hilltop of the stategically located Pearl's Hill green park offering rare unblocked views of the city priced from $2,4xx per square foot (psf). Riviere is beautifully embraced by the Singapore River priced from $2,700 per square foot (psf) and Piccadilly Grand - a fully integrated condo development with MRT and shopping mall directly below and well connected to other malls, hospital and hotel with current prices from below $2,000 per square foot (psf).
Kiwi Lim from Huttons Asia said we are seeing new benchmarks being set in Singapore’s property market on the back of rising land costs, manpower and construction costs. Buyers are now prepared for mass market condos to sell above $2,300 per square foot (psf) in the heartland Outside Central Region (OCR) locations. The consistent strong take-up rates at multiple recent launches could whet developers’ appetite for suburban GLS land parcel sites in the near future.
"Meanwhile, I am also seeing more and more buyers securing new condo projects in the city fringe RCR (Rest of Central Region) as some RCR new condos are now seen as being priced close to or even below recent OCR new launches with OCR prices catching up." said Kiwi.
Recent new condo launches in the mass market OCR locations have seen prices reaching above $2,400 per square foot (psf), this may make some city fringe RCR new condo projects look attractive, e.g. The Landmark - a beautiful exclusive city fringe new condo located on a hillside near the alluring Singapore River, expected to TOP in 2024 selling from $2,2xx per square foot (psf). One Pearl Bank also takes the cake with its amazingly iconic design and envious location of being situated on the hilltop of the stategically located Pearl's Hill green park offering rare unblocked views of the city priced from $2,4xx per square foot (psf). Riviere is beautifully embraced by the Singapore River priced from $2,700 per square foot (psf) and Piccadilly Grand - a fully integrated condo development with MRT and shopping mall directly below and well connected to other malls, hospital and hotel with current prices from below $2,000 per square foot (psf).
Kiwi Lim from Huttons Asia said we are seeing new benchmarks being set in Singapore’s property market on the back of rising land costs, manpower and construction costs. Buyers are now prepared for mass market condos to sell above $2,300 per square foot (psf) in the heartland Outside Central Region (OCR) locations. The consistent strong take-up rates at multiple recent launches could whet developers’ appetite for suburban GLS land parcel sites in the near future.
"Meanwhile, I am also seeing more and more buyers securing new condo projects in the city fringe RCR (Rest of Central Region) as some RCR new condos are now seen as being priced close to or even below recent OCR new launches with OCR prices catching up." said Kiwi.
If you find this article useful, please help me click share on your Facebook or Twitter
- Published on
ARC@Tampines EC
In a rare move by the MCST, a couple who bought a three-bedroom EC unit at Arc@Tampines EC were evicted after the executive condominium's Management Corporation Strata Title (MCST) forced sold the unit at an auction.
Forced sales are very rare and its usually the last resort by the MCST as this process may be traumatic for all parties and time consuming with a host of potential legal and other complications, but the MCST had run out of options after repeated reminders were ignored by the couple to pay their over due outstanding management fees and sinking fund bills amounting approximately $36,000. Under the Building Maintenance and Strata Management Act, the MCST has the power to force the sale of a unit to recover money owed.
Homeowners started selling around $950 psf on average after Arc@Tampines EC achieved its Minimum Occupation (MOP) Status in the year 2020. Arc@Tampines EC was launched in 2012 with overall units selling around $750 psf on average.
The forced sale - a 7th floor three bedroom unit measuring around 1,055 sqft were initially auctioned by Knight Frank months ago but were withdrawn as there were no bids with an opening price of $880,000 ($835 psf). The forced sale condo unit enjoys a premium facing - overlooking beautiful landscaped greenery and swimming pool.
But in the last auction, at a higher opening price of $900,000 - this forced sale unit saw two buyers aggressively bidding for the unit which eventually was sold for $945,000 (around $896 psf) at an auction by Knight Frank. This is estimated to be around $100 psf lower than the current market rate according to current caveated transacted prices.
According to real estate professional Kiwi Lim "MC forced sales are pretty rare and for such forced sale units, the MC does not need to possess the unit and usually there will not be any viewing, especially when the unit is still occupied by the owner or tenant. The new buyer would have to obtain a court order to evict the current occupiers of the unit after the sale is completed. And that could take about three months".
Forced sales are very rare and its usually the last resort by the MCST as this process may be traumatic for all parties and time consuming with a host of potential legal and other complications, but the MCST had run out of options after repeated reminders were ignored by the couple to pay their over due outstanding management fees and sinking fund bills amounting approximately $36,000. Under the Building Maintenance and Strata Management Act, the MCST has the power to force the sale of a unit to recover money owed.
Homeowners started selling around $950 psf on average after Arc@Tampines EC achieved its Minimum Occupation (MOP) Status in the year 2020. Arc@Tampines EC was launched in 2012 with overall units selling around $750 psf on average.
The forced sale - a 7th floor three bedroom unit measuring around 1,055 sqft were initially auctioned by Knight Frank months ago but were withdrawn as there were no bids with an opening price of $880,000 ($835 psf). The forced sale condo unit enjoys a premium facing - overlooking beautiful landscaped greenery and swimming pool.
But in the last auction, at a higher opening price of $900,000 - this forced sale unit saw two buyers aggressively bidding for the unit which eventually was sold for $945,000 (around $896 psf) at an auction by Knight Frank. This is estimated to be around $100 psf lower than the current market rate according to current caveated transacted prices.
According to real estate professional Kiwi Lim "MC forced sales are pretty rare and for such forced sale units, the MC does not need to possess the unit and usually there will not be any viewing, especially when the unit is still occupied by the owner or tenant. The new buyer would have to obtain a court order to evict the current occupiers of the unit after the sale is completed. And that could take about three months".
MCST has the right to order a force sale
Section 43 of the Building Maintenance and Strata Management Act (BMSMA) does not impose a duty upon MCs to lodge with or seek approval from the authority before proceeding to sell a unit for the purpose of recovering outstanding amounts from the property owner.
There are certain legal requirements MCs should fulfil, e.g. registering a charge with the Registrar of Titles, passing a special resolution to sell the unit and placing a notice of the intended sale in one or more approved daily newspapers.
The MC would have to seek mandate at its General Meeting prior to seek the majority owner's approval to proceed further to force sale the unit. Prior to such harsh action, the condo's Managing Agent would have attempted to reach out to the owner and the MC is also likely to have engaged legal advice to pursue recovery by legal means such as lodgement of charges (to secure MCST interest), debtor judgement, writ of summon, writ of seizure etc.
If the MC still does not receive any payment from the property owner after six weeks from the publication of the notice, and there is no legal action pending in court to restrain the sale, the MC can sell the unit.
Essentially, the MCST hopes the owner will make the outstanding payment promptly to avoid such a traumatic experience for all. If any condo owner is experiencing any difficulty with their MCST or sinking fund payments, please communicate with your MCST / MA to work out some payment installment arrangements to avoid such unhappiness.
The main objective of embarking on a forced sale is to compel the property owner to make payment of the outstanding contributions. As long as the owner pays up, the forced sale will be called off.
Condo owners are required to make prompt MCST payments in order to allow the MC and MA to have the necessary funds to upkeep the common property in order to maintain a nice environment for all owners to enjoy.
Section 43 of the Building Maintenance and Strata Management Act (BMSMA) does not impose a duty upon MCs to lodge with or seek approval from the authority before proceeding to sell a unit for the purpose of recovering outstanding amounts from the property owner.
There are certain legal requirements MCs should fulfil, e.g. registering a charge with the Registrar of Titles, passing a special resolution to sell the unit and placing a notice of the intended sale in one or more approved daily newspapers.
The MC would have to seek mandate at its General Meeting prior to seek the majority owner's approval to proceed further to force sale the unit. Prior to such harsh action, the condo's Managing Agent would have attempted to reach out to the owner and the MC is also likely to have engaged legal advice to pursue recovery by legal means such as lodgement of charges (to secure MCST interest), debtor judgement, writ of summon, writ of seizure etc.
If the MC still does not receive any payment from the property owner after six weeks from the publication of the notice, and there is no legal action pending in court to restrain the sale, the MC can sell the unit.
Essentially, the MCST hopes the owner will make the outstanding payment promptly to avoid such a traumatic experience for all. If any condo owner is experiencing any difficulty with their MCST or sinking fund payments, please communicate with your MCST / MA to work out some payment installment arrangements to avoid such unhappiness.
The main objective of embarking on a forced sale is to compel the property owner to make payment of the outstanding contributions. As long as the owner pays up, the forced sale will be called off.
Condo owners are required to make prompt MCST payments in order to allow the MC and MA to have the necessary funds to upkeep the common property in order to maintain a nice environment for all owners to enjoy.
Straits Times online on 15 Sept 2022
- Published on
Federal Reserve's FOMC meets again this month to promote maximum employment, stable prices, and moderate long-term interest rates thru monetary policy
The financial markets are increasingly expecting the Federal Reserve to hike interest rates massively when the Federal Reserve board of directors convene later this month as central bankers underscore their commitment to controlling inflation — even at the risk of slowing the economy too aggressively and causing a recession. Skipping an August meeting, having met in late July, the Federal Reserve's next scheduled monetary policy Federal Open Market Committee (FOMC) meeting takes place on 20 - 21 September 2022.
The chairman of Federal Reserve - Jerome H. Powell said at the Cato Institute’s 40th Annual Monetary Conference on 8 Sept 2022 (Thursday) “It is very much our view, and my view, that we need to act now, forthrightly, strongly, as we have been doing,” Just a day before, the Vice Chairman of Federal Reserve Lael Brainard said “we are in this for as long as it takes to get inflation down.”
Real estate professional Kiwi Lim felt this shows the great resolve by the Federal Reserve to bring inflation totally under control on a manageable level for Americans. It is a direct message that the central bank will not stop hiking rates until inflation is under control, no matter what the other consequences are. "The labour market has remained strong with low unemployment rate in America, retail and services industries are still seeing positive sales. In my opinion, this September could see the final massive hike of around 75 basis points followed by smaller 25 basis point hikes in the near future." said Kiwi Lim.
The chairman of Federal Reserve - Jerome H. Powell said at the Cato Institute’s 40th Annual Monetary Conference on 8 Sept 2022 (Thursday) “It is very much our view, and my view, that we need to act now, forthrightly, strongly, as we have been doing,” Just a day before, the Vice Chairman of Federal Reserve Lael Brainard said “we are in this for as long as it takes to get inflation down.”
Real estate professional Kiwi Lim felt this shows the great resolve by the Federal Reserve to bring inflation totally under control on a manageable level for Americans. It is a direct message that the central bank will not stop hiking rates until inflation is under control, no matter what the other consequences are. "The labour market has remained strong with low unemployment rate in America, retail and services industries are still seeing positive sales. In my opinion, this September could see the final massive hike of around 75 basis points followed by smaller 25 basis point hikes in the near future." said Kiwi Lim.
What can we expect if Federal Reserve hikes interest rates by 75 basis points this Sept?
1. Fixed Deposit Rates
Fixed deposit rates in Singapore are currently being offered to the public by various banks ranging between 1.8% to 2.88%. News reported long queues outside many bank branches where people waited more than four hours to open and deposit their money into the fixed deposit accounts.
"We may see fixed deposit rates adjusted closer to 3% from Oct onwards if there is a 75 basis point increase by the Federal Reserve this Sept" said Kiwi Lim
2. Home Loan Rates
Home loan fixed rates which is now hovering around 2.55% may also rise to around 3% or higher. This is still below the stress test threshold of 3.5% rate used in Total Debt Servicing Ratio (TDSR) calculations and homeowners are expected to be able to comfortably continue servicing their home loans. Rental may be adjusted as some landlords face slightly higher mortgage loans.
3. TDSR
The government may be tempted to tweak Total Debt Servicing Ratio (TDSR) if interest rates continue rising in order to maintain relevancy for the stress test relating to housing mortgage loans. This may also be interpreted as a cooling measure because potential property buyers may find their approved loans for buying properties shrinking slightly. Thus potential property buyers will have to fork out more cash or CPF if applicable to acquire their desired properties.
1. Fixed Deposit Rates
Fixed deposit rates in Singapore are currently being offered to the public by various banks ranging between 1.8% to 2.88%. News reported long queues outside many bank branches where people waited more than four hours to open and deposit their money into the fixed deposit accounts.
"We may see fixed deposit rates adjusted closer to 3% from Oct onwards if there is a 75 basis point increase by the Federal Reserve this Sept" said Kiwi Lim
2. Home Loan Rates
Home loan fixed rates which is now hovering around 2.55% may also rise to around 3% or higher. This is still below the stress test threshold of 3.5% rate used in Total Debt Servicing Ratio (TDSR) calculations and homeowners are expected to be able to comfortably continue servicing their home loans. Rental may be adjusted as some landlords face slightly higher mortgage loans.
3. TDSR
The government may be tempted to tweak Total Debt Servicing Ratio (TDSR) if interest rates continue rising in order to maintain relevancy for the stress test relating to housing mortgage loans. This may also be interpreted as a cooling measure because potential property buyers may find their approved loans for buying properties shrinking slightly. Thus potential property buyers will have to fork out more cash or CPF if applicable to acquire their desired properties.
The Federal Reserve’s tools to ease inflation’s burden on households and businesses are blunt, revolving around interest rate increases that make lending and investment more expensive to cool demand in the economy.
Kiwi Lim felt the inflationary figures may still rise sporadically during certain months in the near future even after the Fed's expected massive hike in September as there are certain things the Federal Reserve can’t do anything about - for example: supply chain problems or Russia’s invasion of Ukraine or other global factors keeping fossil fuel energy prices high which will affect almost every industry's services and product's costs.
Kiwi Lim felt the inflationary figures may still rise sporadically during certain months in the near future even after the Fed's expected massive hike in September as there are certain things the Federal Reserve can’t do anything about - for example: supply chain problems or Russia’s invasion of Ukraine or other global factors keeping fossil fuel energy prices high which will affect almost every industry's services and product's costs.
- Published on
The Marina South site will comprise a mix of retail, office, hotel and residential uses. PHOTO: URA
As the year is coming to an end, the Marina Gardens Lane GLS is expected to be released for sale soon.
The Marina Gardens Lane GLS land parcel was announced by the government on 7 June 2022 (Tuesday) as the first GLS site in Marina South - located next to Gardens by the Bay. The Marina Gardens Lane GLS land site is set to kick-start private residential development in the precinct.
This is the first time the government is launching a site in the Marina South neighbourhood. The Marina Gardens Lane GLS site in Marina South is a 12,300 square metre mixed-use plot on Marina Gardens Lane expected to yield about 795 residential units and 750 sq m of commercial space. To be launched for sale in December, the land parcel sits next to the Gardens by the Bay tourist attraction in Singapore’s downtown core.
The 45ha Marina South precinct, which overlooks the Marina Reservoir and the Singapore Strait, will comprise a mix of retail, office, hotel and residential uses. It can yield more than 10,000 homes when the whole area is fully developed in the future.
The Marina Gardens Lane GLS land parcel was announced by the government on 7 June 2022 (Tuesday) as the first GLS site in Marina South - located next to Gardens by the Bay. The Marina Gardens Lane GLS land site is set to kick-start private residential development in the precinct.
This is the first time the government is launching a site in the Marina South neighbourhood. The Marina Gardens Lane GLS site in Marina South is a 12,300 square metre mixed-use plot on Marina Gardens Lane expected to yield about 795 residential units and 750 sq m of commercial space. To be launched for sale in December, the land parcel sits next to the Gardens by the Bay tourist attraction in Singapore’s downtown core.
The 45ha Marina South precinct, which overlooks the Marina Reservoir and the Singapore Strait, will comprise a mix of retail, office, hotel and residential uses. It can yield more than 10,000 homes when the whole area is fully developed in the future.
Based on the latest Masterplan, it is one of five sites in the area with residential and commercial at the first storey, among other white sites, and is expected to kickstart development in the area where it will be a sustainable, car-lite estate comprising a mix of residential, commercial and hotel uses. Located near the CBD, it is also in line with the authority’s vision of turning the CBD into a more vibrant area for work live play.
Real estate professional Kiwi Lim believe the Marina Gardens Lane site in Marina South is likely to be the priciest parcel on the list of avail GLS sites to be released this year. "This plum mixed development site is expected to cost at least a billion and would be the most popular. It is expected to receive seriously competitive bids from developers with deep pockets due to its first-mover advantage in the precinct's development and being the first residential site out of five sites along the same stretch" said Kiwi.
The Government will continue to monitor economic and property market conditions closely and adjust the supply of future GLS Programmes, as necessary.
Real estate professional Kiwi Lim believe the Marina Gardens Lane site in Marina South is likely to be the priciest parcel on the list of avail GLS sites to be released this year. "This plum mixed development site is expected to cost at least a billion and would be the most popular. It is expected to receive seriously competitive bids from developers with deep pockets due to its first-mover advantage in the precinct's development and being the first residential site out of five sites along the same stretch" said Kiwi.
The Government will continue to monitor economic and property market conditions closely and adjust the supply of future GLS Programmes, as necessary.
- Published on
The Housing and Development Board (HDB) launched 4,993 flats for sale under its August Build-to-Order (BTO) exercise on 30 August 2022 (Tuesday) 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.
The latest HDB BTO exercise in August closed at 11.59pm on 5 September (Monday) with the final numbers updated on 6 September (Tuesday) afternoon There were about 39,000 applicants in this exercise, which is about 46 per cent more than the applications in May's BTO exercise. HDB launched 4,993 BTO flats in August, compared to the 4,583 BTO flats in May and with more flats in good mature estates near MRT stations this August.
The latest HDB BTO exercise in August closed at 11.59pm on 5 September (Monday) with the final numbers updated on 6 September (Tuesday) afternoon There were about 39,000 applicants in this exercise, which is about 46 per cent more than the applications in May's BTO exercise. HDB launched 4,993 BTO flats in August, compared to the 4,583 BTO flats in May and with more flats in good mature estates near MRT stations this August.
Number of applications received for three-room and bigger flats in the August 2022 BTO Exercise
HDB's data shows 4,513 applicants vying for 398 four-room and nearly 6,000 applicants competing for 372 five-room and three-generation flats at the Central Weave @ AMK project with prices ranging from $535,000 to $676,000 for a four-room flat and $720,000 to $877,000 for a five-room flat.
Central Weave @ AMK project is seen as an attractive choice due to it being a matured estate conveniently located along Ang Mo Kio Central 2 within walking distance to the Ang Mo Kio public library surrounded by ample amenities and near MRT station.
HDB announced that for the BTO projects launched in August 2022, the waiting time generally ranges from three to 5.7 years. HDB also advised home buyers looking to move into their flats sooner to consider BTO projects in Choa Chu Kang, Tampines and Woodlands, such as flats at Keat Hong Grange, Sun Plaza Spring and Woodlands South Plains, as these have the shortest waiting times at 3.8 years or less.
The next BTO sales exercise is scheduled for November. HDB will offer about 9,500 BTO flats in towns and estates such as Bukit Batok, Kallang Whampoa, Queenstown, Tengah and Yishun.
HDB aims to launch up to 23,000 new flats this year.
Central Weave @ AMK project is seen as an attractive choice due to it being a matured estate conveniently located along Ang Mo Kio Central 2 within walking distance to the Ang Mo Kio public library surrounded by ample amenities and near MRT station.
HDB announced that for the BTO projects launched in August 2022, the waiting time generally ranges from three to 5.7 years. HDB also advised home buyers looking to move into their flats sooner to consider BTO projects in Choa Chu Kang, Tampines and Woodlands, such as flats at Keat Hong Grange, Sun Plaza Spring and Woodlands South Plains, as these have the shortest waiting times at 3.8 years or less.
The next BTO sales exercise is scheduled for November. HDB will offer about 9,500 BTO flats in towns and estates such as Bukit Batok, Kallang Whampoa, Queenstown, Tengah and Yishun.
HDB aims to launch up to 23,000 new flats this year.
The Pinnacle@Duxton was only 3 times oversubscribed in 2004
In stark contrast, real estate professional Kiwi Lim said during the buyer's market in 2004, there were only 5,171 applications in total for the 1,232 four-room and 616 five-room flats at The Pinnacle@Duxton when HDB launched this city central area 50 storey BTO project comprising of 7 towering blocks connected by two sky gardens at level 26 and level 50 offering HDB residents an unparalleled view of Singapore.
Demand for The Pinnacle@Duxton is considered very low at prices ranging from $289,200 to $380,900 for 4-room flats and $345,100 to $439,400 for 5-room flats in 2004.
In stark contrast, real estate professional Kiwi Lim said during the buyer's market in 2004, there were only 5,171 applications in total for the 1,232 four-room and 616 five-room flats at The Pinnacle@Duxton when HDB launched this city central area 50 storey BTO project comprising of 7 towering blocks connected by two sky gardens at level 26 and level 50 offering HDB residents an unparalleled view of Singapore.
Demand for The Pinnacle@Duxton is considered very low at prices ranging from $289,200 to $380,900 for 4-room flats and $345,100 to $439,400 for 5-room flats in 2004.
- Published on
An artist's impression of the Build-to-Order (BTO) flats at Central Weave @ AMK. (Image: HDB)
HDB's August 2022 BTO launch is now currently on with the deadline for application closing by tonight on 05 September 2022, Monday, 11:59 PM.
With 4,993 units spread out across six estates, this launch is going to be a very exciting one as compared to the past BTO lunches. This latest BTO launch includes a variety of units in quite a few mature estates up for grabs, namely Ang Mo Kio, Tampines and two BTO projects under the Prime Location Public Housing (PLH) model in Bukit Merah - Alexandra Vale and Havelock Hillside.
HDB buyers of PLH BTOs will face certain restrictions such as a longer, 10-year Minimum Occupation Period (MOP), a subsidy clawback, and not being able to rent out the entire flat even when the MOP is over.
For budget-conscious buyers, they can choose non-mature estates among Choa Chu Kang, Jurong East and Woodlands. According to HDB, interest was most muted for the Choa Chu Kang BTO project, where there are fewer first-time applicants than the number of available three-room, four-room and five-room flats.
HDB said almost all larger flats in the ongoing Build-To-Order (BTO) sales exercises have been oversubscribed just a day after the launch, with the five-room and three-generation units in Ang Mo Kio proving to be the most popular.
With 4,993 units spread out across six estates, this launch is going to be a very exciting one as compared to the past BTO lunches. This latest BTO launch includes a variety of units in quite a few mature estates up for grabs, namely Ang Mo Kio, Tampines and two BTO projects under the Prime Location Public Housing (PLH) model in Bukit Merah - Alexandra Vale and Havelock Hillside.
HDB buyers of PLH BTOs will face certain restrictions such as a longer, 10-year Minimum Occupation Period (MOP), a subsidy clawback, and not being able to rent out the entire flat even when the MOP is over.
For budget-conscious buyers, they can choose non-mature estates among Choa Chu Kang, Jurong East and Woodlands. According to HDB, interest was most muted for the Choa Chu Kang BTO project, where there are fewer first-time applicants than the number of available three-room, four-room and five-room flats.
HDB said almost all larger flats in the ongoing Build-To-Order (BTO) sales exercises have been oversubscribed just a day after the launch, with the five-room and three-generation units in Ang Mo Kio proving to be the most popular.
HDB saw strong demand for the 372 five-room BTO flats at Central Weave @ Ang Mo Kio despite prices of up to $877k for the five-room flats and three-generation flats of up to $842,000.
This means that the five-room Ang Mo Kio flats are attracting more applicants than the four-room flats in the two Bukit Merah PLH BTO projects that fall under the prime location public housing model. This translates to around three first-time applicants to each available unit in Ang Mo Kio. Second-timers face an even bleaker prospect with more than 82 applicants to each available unit.
At the Alexandra Vale and Havelock Hillside PLH BTO projects, which sits in the vicinity of Redhill and Tiong Bahru MRT stations, there were 2,465 applicants for the 1,298 four-room flats on offer. This translates to more than one first-time applicant to each available unit, but the number of applicants is expected to increase in coming days.
Real estate professional Kiwi Lim from Huttons Asia said after the circuit breaker during the Covid pandemic, HDB buyers prefer a larger space to build their dream homes. Thus Kiwi Lim believe that in the near future - 5 room flats in matured estates will be highly sought after among HDB BTO or resale buyers, especially when they are located near amenities, eateries and MRT. In fact, these 5 room flats may even be more popular than the PHL Model HDB flats located in the prime city fringe areas.
This means that the five-room Ang Mo Kio flats are attracting more applicants than the four-room flats in the two Bukit Merah PLH BTO projects that fall under the prime location public housing model. This translates to around three first-time applicants to each available unit in Ang Mo Kio. Second-timers face an even bleaker prospect with more than 82 applicants to each available unit.
At the Alexandra Vale and Havelock Hillside PLH BTO projects, which sits in the vicinity of Redhill and Tiong Bahru MRT stations, there were 2,465 applicants for the 1,298 four-room flats on offer. This translates to more than one first-time applicant to each available unit, but the number of applicants is expected to increase in coming days.
Real estate professional Kiwi Lim from Huttons Asia said after the circuit breaker during the Covid pandemic, HDB buyers prefer a larger space to build their dream homes. Thus Kiwi Lim believe that in the near future - 5 room flats in matured estates will be highly sought after among HDB BTO or resale buyers, especially when they are located near amenities, eateries and MRT. In fact, these 5 room flats may even be more popular than the PHL Model HDB flats located in the prime city fringe areas.
Central Weave @ AMK
Bounded by Ang Mo Kio Avenue 8, Ang Mo Kio Central 2, and Ang Mo Kio Central 3, Central Weave @ AMK comprises 5 residential blocks ranging from 21 to 32 storeys. One of these blocks will house some rental flats. You can choose from 896 units of 2-room Flexi, 4-, 5-room, and 3Gen flats.
The residential blocks of Central Weave @ AMK are arranged in rows, interweaving with the surrounding landscaping to form a grid-like pattern from an aerial view. Central Weave @ AMK takes its name from this design approach, reinforced by a weaving pattern of vertical stripes on its facade.
Facilities within Central Weave @ AMK include a childcare centre, residents’ network centre, playgrounds as well as adult and elderly fitness stations. The roof garden above the Multi-Storey Car Park (MSCP) offers another space where you can exercise and relax.
To learn more about the August 2022 HDB BTO units, you can also check out the HDB InfoWeb.
Bounded by Ang Mo Kio Avenue 8, Ang Mo Kio Central 2, and Ang Mo Kio Central 3, Central Weave @ AMK comprises 5 residential blocks ranging from 21 to 32 storeys. One of these blocks will house some rental flats. You can choose from 896 units of 2-room Flexi, 4-, 5-room, and 3Gen flats.
The residential blocks of Central Weave @ AMK are arranged in rows, interweaving with the surrounding landscaping to form a grid-like pattern from an aerial view. Central Weave @ AMK takes its name from this design approach, reinforced by a weaving pattern of vertical stripes on its facade.
Facilities within Central Weave @ AMK include a childcare centre, residents’ network centre, playgrounds as well as adult and elderly fitness stations. The roof garden above the Multi-Storey Car Park (MSCP) offers another space where you can exercise and relax.
To learn more about the August 2022 HDB BTO units, you can also check out the HDB InfoWeb.
MND clarified that HDB does not profit from the sale of HDB BTO flats. In fact, HDB will incur a loss from HDB BTO projects, as the estimated amount to be collected from the sale is lower than the estimated total development cost of the projects. If taken into account the CPF housing grants that HDB will extend to eligible buyers, the deficit is higher still. In the last three years, the average deficit incurred by HDB was about S$2.68 billion per year.
The MND reminds all that HDB incurs a deficit every year. The deficit is mainly due to "significant subsidies" for new flats and the disbursement of CPF housing grants for eligible buyers. Because of this, most first-timer buyers use less than a quarter of their monthly income to service their housing loans. Currently according to the MND, close to 90 per cent of first-timer families service their HDB loans using CPF with little or no cash payments.
To learn more about the August 2022 HDB BTO units, you can also check out the HDB InfoWeb.
The MND reminds all that HDB incurs a deficit every year. The deficit is mainly due to "significant subsidies" for new flats and the disbursement of CPF housing grants for eligible buyers. Because of this, most first-timer buyers use less than a quarter of their monthly income to service their housing loans. Currently according to the MND, close to 90 per cent of first-timer families service their HDB loans using CPF with little or no cash payments.
To learn more about the August 2022 HDB BTO units, you can also check out the HDB InfoWeb.
- Published on
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.
Click for more property analysis & updates
- Published on
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.
- Published on
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
