Even though the city centre is the most developed part of Singapore today, the government is striving to rejuvenate (and expand) Singapore’s CBD to keep it competitive and vibrant. The stakes are high, in Singapore’s quest to be the top global financial centre. Under the URA Master Plan 2019, parts of the traditional CBD such as Anson Road, Cecil Street and Tanjong Pagar will offer an increase in gross plot ratio (GPR) for the conversion of existing office developments to hotel and residential use. In addition to the scheme, the URA also wants to increase the Central Area’s live-in population and is planning for more integrated developments (mix of residential, office, retail and/or hotel) in the increasingly seamless Downtown, Marina Bay and Beach Road/Rochor corridors. Particularly exciting are Guocoland’s MIDTOWN initiatives which will eventually enable pedestrians to walk – via underground and sheltered connections – from Bugis Junction to Suntec City, and then via the underground CitiLink Mall connection, all the way to City Hall MRT and Raffles City. Eventually, I see D1, D2 and D7 gradually forming the Greater CBD area, and this area will increase in vibrancy and hype – as the government’s incentives and action plans gradually unfold over the next decade.
MONEY MIND program (March 2019): “Living the High Life in the CBD”
Every evening, I walk 3.5km around the Marina Bay, and see hordes of tourists enjoying themselves. And I always wonder to myself: Why are Singaporeans not enjoying themselves here?
In many global cities around the world, living in the financial district is a privilege and will cost a bomb, but uniquely in Singapore, you can still get a good unit at many D1, D2 and D7 properties for the same price — in terms of psf — as some new condo launches in the outlying suburbs …..
New Launches
– Marina One Residences
– Wallich Residence
– South Beach Residences
– (Guoco) Midtown Bay
Resale
– The Sail @ Marina Bay
– Marina Bay Residences
– Robinson Suites
– V on Shenton
– Skysuites @ Anson
– ICON
– One Shenton
– EON Shenton
– 76 Shenton
– Lumiere
– Altez
– Duo Residences
– Concourse Skyline
One key theme of the URA Master Plan 2019 is its focus on the Central Area:
Singapore’s CBD to see identity shift
Plans to transform Orchard Road, create more buzz in CBD
Underground plans for three districts revealed
More homes planned in city centre to inject vibrancy
RELATED NEWS
BT March 2019: Ongoing makeover adding value to Beach Road’s commercial markets
https://www.businesstimes.com.sg/hub-projects/property-2019-march-issue/ongoing-makeover-adding-value-to-beach-roads-commercial
Plans to rejuvenate city centre, waterfront
https://www.straitstimes.com/politics/plans-to-rejuvenate-city-centre-waterfront
Necklace of pearls around the Bay
https://www.businesstimes.com.sg/the-raffles-conversation/necklace-of-pearls-around-the-bay
Marina Bay: A Vision and the Backbone
https://www.ura.gov.sg/Corporate/Resources/Ideas-and-Trends/Marina-Bay-vision-backbone
Mike Tan | CEA Regn. R059706Z | 98280030
Click here for some of the best locations to buy property in Singapore