Pearl's Hill City Park will have new facilities and landscapes (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The Urban Redevelopment Authority (URA) launched the 'My City, My Home' exhibition on Nov 3, with plans for new housing options in several districts in the Central Region, namely Pearl's Hill, Marina South, Bukit Timah Turf City, the Keppel golf course and Mount Pleasant.
"To meet the needs of Singaporeans, we are planning to launch a variety of homes and amenities in more central parts of Singapore," says Desmond Lee, Minister for National Development and Minister-in-charge of Social Services Integration, who launched the exhibition. "Many want to live closer to their workplaces in the city and be nearer to amenities, such as transport nodes. Or they want to stay closer to their parents – some of their families may live in central parts of Singapore."
The government also wants to ensure that Singaporeans from different walks of life can stay in these central locations. "We want a good social mix that reflects our diverse society," adds Minister Lee.
Search for the latest New Launches, to find out the transaction prices and available units
Ecological and heritage significance of such neighbourhoods are also considered and will be developed "sensitively and sustainably", according to URA CEO Lim Eng Hwee.
Pearl’s Hill will eventually have 6,000 new homes, with a mix of public housing and private housing (Source: URA)
URA will prioritise the development of brownfield sites such as Pearl's Hill, which will be developed progressively over the next 10 years into an inclusive and community-centric neighbourhood. There will eventually be 6,000 new homes, with a mix of public housing, including Built-to-Order (BTO) and rental flats, alongside private housing, such as condos and serviced apartments.
It marks the first time new public housing will be introduced in the Pearl's Hill area in over 40 years, says URA. National Parks Board (NParks) will enhance Pearl's Hill City Park with new facilities and landscapes supporting park users' physical and mental well-being. The former police barracks and Commander's Bungalow at Pearl's Hill will be conserved for their historical significance.
Pearl's Hill is conveniently located near the CBD, Chinatown Historic District and Tiong Bahru, with easy access to four MRT lines (East-West, North-East, Downtown and Thomson-East Coast Lines) through the Outram Park and Chinatown interchange stations. New amenities will be included in a new mixed-use development to be integrated with Outram Park MRT station to meet residents' daily needs.
The 774-unit One Pearl Bank was entirely sold by mid-October when the final unit, the largest penthouse of 2,788 sq ft on the 38th floor (Source: EdgeProp Landlens)
Located within a short walk of the Outram Park MRT station is the upcoming 774-unit One Pearl Bank by CapitaLand Development. It's a redevelopment of the former Pearl Bank Apartments, considered the tallest residential tower in Singapore when completed in 1976. CapitaLand had purchased the former Peal Bank Apartments en bloc for $728 million in February 2018.
One Pearl Bank was entirely sold by mid-October when the final unit, the largest penthouse of 2,788 sq ft on the 38th floor, fetched $7.1 million ($2,547 psf). It’s the highest absolute price achieved in the development. The highest psf price achieved was $3,009 psf for a 700 sq ft, two-bedder on the 37th floor sold for $2.105 million in December 2022. The overall average price for One Pearl Bank is $2,486 psf.
Read also: Would the Orchard Boulevard site be awarded after Marina Gardens Crescent’s rejected bid?
Another upcoming private condo near the hilltop of Pearl's Hill is The Landmark, a 396-unit private condo by a consortium of MCC Land, ZACD and SSLE Development, a Sin Soon Lee Group subsidiary. Launched in Nov 2020, the project is over 77% sold at an average price of $2,372 psf. The private condo is a redevelopment of the former Landmark Tower, which the consortium purchased en bloc for $286 million in May 2018.
The Landmark, a 396-unit private condo is over 77% sold (Source: EdgeProp Landlens)
Another example of a brownfield site is Bukit Timah Turf City, Singapore's racecourse from 1933 until 1999, when the Turf Club was relocated to Kranji. "It is a place that holds memories for some Singaporeans when it was used first as a racecourse and later after we adapted it for lifestyle and recreational uses," says Minister Lee.
Given its rich history, URA called for a heritage study and will incorporate its recommendations into the Master Plan to retain the area's unique identity. Significant heritage elements will be sensitively integrated with future developments, and some heritage buildings will be adapted for new uses.
URA also commissioned an environmental study to understand the existing flora, fauna, hydrology and topography of the area, given the greenery on the site. While the study is ongoing, URA is exploring retaining selected green areas, such as Eng Neo Woods and Bukit Tinggi, to create a network of green landscapes to ensure continued ecological connectivity and protect biodiversity.
The Bukit Timah Turf City is zoned 'Residential' since the Master Plan 1998 (Photo: Albert Chua/EdgeProp Singapore)
Zoned 'Residential' since the Master Plan 1998, Bukit Timah Turf City is currently served by the existing Sixth Avenue MRT station on the Downtown Line. Accessibility will be further improved with the upcoming Turf City MRT station on the Cross-Island Line by 2032. There will be other additional amenities, public transport options and road improvements.
"We are studying the possibility of introducing good quality housing through a good mix of both public and private housing at Bukit Timah Turf City," says Minister Lee.
Read also: URA rejects $984 psf ppr bid by GuocoLand-led consortium for Marina Gardens Crescent GLS site
Many of the top schools are located in the Bukit Timah area; hence, the residences at Bukit Timah Turf City will be sought-after by parents with children of school-going age, notes Lee Sze Teck, senior director of Huttons Data Analytics.
The upcoming Mount Pleasant public housing estate, with about 5,000 new homes, will be developed on the site of the Old Police Academy (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The upcoming Mount Pleasant public housing estate, with about 5,000 new homes, will be developed on the site of the Old Police Academy. The nearby Mount Pleasant MRT station and amenities like a neighbourhood centre and park will serve the new housing estate.
To conserve the site's heritage, selected buildings of the old Police Academy will be integrated with new developments, and two streams in the area will be fully conserved, says URA.
Artist’s impression of Marina South with a new mixed-use residential neighbourhood with more than 10,000 new homes, including public housing (Source: URA)
Next to Gardens by the Bay is Marina South, a 45-ha site planned as a mixed-use residential neighbourhood with more than 10,000 new homes, including public housing. Some of the upcoming HDB flats at Marina South may have sea views, adds Huttons’ Lee, while others may overlook Gardens by the Bay and Marina Reservoir.
Within a 10-minute walk of residents will be amenities and an extensive network of public spaces for community activities, including a pedestrian mall, public plazas, courtyard spaces and friendly neighbourhood streets. The downside is the lack of primary schools in the CBD.
The tender for the first government land sale (GLS) site at Marina South, namely Marina Gardens Lane, closed in June. The highest of four bids received for the 99-year leasehold, 131,805 sq ft site was submitted by a consortium led by Kingsford Huray Development, a unit of Chinese developer Kingsford Group. Its joint venture partners are Obsidian Development and Polarix Cultural & Science Park Investment. Together, they submitted a bid of $1.034 billion or $1,402 psf per plot ratio (psf ppr).
The Marina Gardens Lane GLS site can be developed into a 790-unit residential project with 8,073 sq ft of commercial space on the first level (Source: EdgeProp Landlens)
The bid was 42% higher than the second-highest, which came from a joint venture between GuocoLand and Hong Leong Group. The joint venture submitted a bid of $727.04 million or $985 psf ppr.
The site at Marina Gardens Lane is zoned for residential with commercial on the first storey. With a maximum gross floor area of 738,114 sq ft, it can be developed into a 790-unit residential project with 8,073 sq ft of commercial space on the first level.
"The Marina Gardens Lane site will feature a first-of-its-kind seafront residential project counting Singapore's icons Marina Bay Sands and Gardens by the Bay as neighbours," a spokesperson for Kingsford commented. "The project will offer homebuyers unblocked sea views and a first-mover advantage in the Marina South precinct."
The site is the first of five parcels in the Marina South precinct to be put up for sale.
The second site was launched for sale at the end of June, with the tender closing in January 2024. It’s a white site at Marina Gardens Crescent, located opposite the Marina Gardens Lane site purchased by the consortium led by Kingsford. It can yield 775 residential units with 64,583 sq ft of commercial space.
The former Keppel Golf Course will be redeveloped into 9,000 new homes, of which 6,000 will be public housing. It will be the first housing site in the Greater Southern Waterfront precinct (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The former Keppel Golf Course will be redeveloped into 9,000 new homes. It will be the first housing site in the Greater Southern Waterfront precinct. Of the 9,000 new homes, 6,000 will be public housing. The first phase of homes will be launched in the next two years.
Housing developments will feature staggered building heights that step down towards green spaces and the waterfront, enabling residents to enjoy the view of greenery at their doorsteps, says URA. Close to 10ha of green spaces will be provided for recreational uses and ecological connectivity.
"The public housing flats at the former Keppel Golf Course are likely to be the only ones next to a marina," says Huttons' Lee. "The downside is the lack of good primary schools."
With the new estates in the Central Region, such as Pearl's Hill, Bukit Timah Turf City, former Keppel Golf Course, Mount Pleasant and Marina South, Lee anticipates that the BTO application rates for the Prime flats will be high.
Check out the latest listings for One Pearl Bank, The Landmark properties