The Rejuvenation of East Coast and CBD Brings Fresh Residential Choices

The URA Master Plan 2019 and Long-Term Plan Review, showcased since June 6, provide insights into upcoming plans for a few of Singapore’s highly desired regions along with novel zones. (See also: Marine Parade URA Master Plan)

In the East Coast, the suggested concept of a “Long Island” combines coastal conservation techniques with planned future land reclamation.

This could potentially entail the creation of a new reservoir to enhance Singapore’s food and water sustainability, a crucial component in securing the city-state’s future amid the challenges posed by climate change.

The “Long Island” presents an opportunity to not only offer new housing options but also integrate coastal parks and recreational spaces. Initially proposed in the 1991 Concept Plan as a reclaimed island for waterfront residences and leisure activities.

Continuing along the East Coast Parkway is the Bayshore area, where cleared land is set to make way for a new Bayshore precinct. The precinct is anticipated to consist of 12,500 homes, divided equally between public and private housing.

It will encompass around 6,000 HDB flats and 6,500 private residential units.

Covering an estimated area of 60,000 square meters (645,800 square feet), the new precinct will boast a pedestrianized main thoroughfare. As noted by Bernard Tong, CEO of EdgeProp Singapore, the primary objective is to promote a healthy lifestyle in the East Coast region by prioritizing walking, cycling, and public transport.”

The Bayshore Precinct boasts convenient access to two upcoming MRT stations: Bedok South and Bayshore stations on the Thomson-East Coast Line (TEL).

Upcoming TEL Stations:

• Bayshore – Phase 4
• Bedok South – Phase 5
• Sungei Bedok – Phase 5

Commuters can look forward to these stations becoming operational sometime in 2024 or 2025. Over the long term, the relocation of the Paya Lebar Airbase is expected to benefit the Marine Parade estate in the East Coast.

During the National Day Rally on August 21st, Prime Minister Lee Hsien Loong announced that once the airbase is relocated, the height restrictions on buildings in the surrounding areas such as Paya Lebar, Marine Parade, and Hougang, can be lifted.

The change in height restrictions could potentially result in the redevelopment of older buildings in the surrounding area. As noted by Christine Sun, Senior Vice President of Research and Analytics, this development may increase the en bloc potential of certain resale condominiums in the Hougang, Marine Parade & Paya Lebar regions.

According to an expert, certain condominiums that were launched before and are currently under 20 storeys may have the possibility of redevelopment in the future. They can be torn down and rebuilt to a greater height later on.

The Continuum, a new freehold condominium set to launch, will consist of six blocks, including four blocks with 17 storeys and two blocks with 18 storeys. See the project details for more information.

In addition, there is a potential for this development to have a positive impact on the Marine Parade Estate’s older flats, particularly those built in the 1970s and 1980s, which will reach over 50 years old in the next decade.

Sun, an expert, suggests that the Selective En bloc Redevelopment Scheme (SERS) could be used to redevelop some of the older flats in the area to optimize land use, given that height restrictions have been lifted.

At the same time, Tong from EdgeProp points out that the Marine Terrace and Parkway Parade stations on the TEL will significantly improve the area’s convenience and connectivity.

The East Coast has seen a greater rise in resale prices for HDBs and condos than the rest of Singapore in the past decade. This trend may continue due to the area’s long-term plans.

The CBD’s rejuvenation has also accelerated, particularly in the Tanjong Pagar area, which is the gateway to the Greater Southern Waterfront.

The government is now focusing on developing the Marina South, Marina East, and Straits View regions, leveraging Singapore’s strengths to create an appealing live-work-play environment with efficient transportation and quality infrastructure.

The launch of The Continuum is highly anticipated, as the development is located in a highly sought-after area in Singapore.