Category Archives: East

Eastern part of Singapore

Downtown Line 3 to open 21 Oct this year

The Downtown Line 3 (DTL3) will open on 21 October 2017, making it the longest underground and driverless MRT line in Singapore, surpassing the 35.7km Circle Line (CCL).   The DTL3 Extension from Expo to Sungei Bedok, an additional 2.2km, will open in 2024.

Downtown Line

Downtown Line Alignment

DTL3

The 21-kilometre long DTL3 comprises 16 stations and is the longest stretch of the Downtown Line to be opened. DTL3 includes three interchange stations at MacPherson (link to CCL) , Tampines (EWL), and Expo (EWL).

1.      Fort Canning Station

Fort Canning station is located at the intersection of River Valley Road and Clemenceau Avenue. The station has two entrances and will serve developments in the area including Fort Canning Park, Liang Court, U.E Square, Park Hotel Clarke Quay and Robertson Quay Hotel, which were previously not connected to the rail network.

2.      Bencoolen Station

Bencoolen station is located at Bencoolen Street, near the junction with Bras Basah Road. It has three entrances and comprises six levels – concourse, upper mezzanine, lower mezzanine, platform and two service levels. To provide greater connectivity to the existing rail network, the station has an underground unpaid linkway connected to CCL Bras Basah station through the existing SMU basement. The NAFA Campus extension is integrated above one of the station’s entrances.

The station will serve students, office workers, businesses and tourists, with its close proximity to the Nanyang Academy of Fine Arts (NAFA), Singapore Management University (SMU), Manulife Centre, Sunshine Plaza, National Museum and hotels along Bencoolen Street. There are also several places of worship around the station such as the Kwan Im Temple, Sri Krishnan Temple, Maghain Aboth Synagogue and Masjid Bencoolen.

3.      Jalan Besar Station

Jalan Besar station is located at the junction of Jalan Besar and Weld Road. It has two entrances and comprises two levels – concourse and platform. The station will serve Sim Lim Tower, Stamford Primary School, residences and shophouses in the vicinity. The station is within five minutes’ walk of Rochor station (on the DTL) and Bugis station (on the EWL, DTL) allowing commuters to easily transfer between rail lines.

4.      Bendemeer Station

Bendemeer station is located at Kallang Bahru, near the junction with Kallang Avenue. The station has two entrances, one on each side of the road. The station will serve the commercial buildings, residences and shophouses in the vicinity. The station is within ten minutes’ walk of Lavender station (on the EWL) and Boon Keng station (on the NEL) allowing commuters to easily transfer between rail lines.

5.      Geylang Bahru Station

Geylang Bahru station is located along Kallang Bahru, at the junction with Geylang Bahru. The station has two entrances and comprises two levels – concourse and platform. The station will serve Kallang Basin ActiveSG Swimming Complex, Kallang Basin Industrial Estate and HDB estates in Geylang Bahru, providing greater connectivity for workers and residents.

6.      Mattar Station

Mattar station is located near the junction of Merpati Road and Mattar Road. The station has two entrances. One of the entrances leads to Merpati Road and will primarily serve Canossa Convent School, Macpherson Primary School, Masjid Sallim Mattar Mosque and those working in Kallang Pudding area. The other entrance leads to Mattar Road near the Circuit Road hawker centre (Blk 79 and 79A Circuit Road) and the Macpherson Community Club.

7.      MacPherson Station

MacPherson station is located along Circuit Link, near the junction with Circuit Road. It has two entrances and comprises three levels – concourse, mezzanine and platform. It will serve Geylang Neighbourhood Police Centre, industrial buildings and residences in the vicinity.

The new station will allow commuters to conveniently transfer to the CCL as the DTL platforms are connected directly to the CCL platform though a short escalator ride. This could be done as the bottom-most level of the DTL station was constructed along with the CCL station, allowing the two lines to be built in close proximity.

8.      Ubi Station

Ubi station is located near the junction of Ubi Avenue 1 and Ubi Avenue 2. The station has two entrances, one of which is located close to the residential estate.  The station aims to serve the nearby high-rise light industrial buildings and also supports a dense HDB estate with schools in its vicinity such as Maha Bodhi School and Manjusri Secondary School. The station exterior is bronze in colour to depict the colour of Ubi (Malay for “tapioca”).

9.      Kaki Bukit Station

Kaki Bukit station is located along Kaki Bukit Avenue 1, near the junction with Jalan Damai. The station has two entrances and comprises three levels – intermediate, concourse and platform. Utilities found within the station footprint posed challenges during the construction of the station, and they had to be relocated during different phases of excavation. The station will serve Bedok North Secondary School, Kaki Bukit Tech Park, Kaki Bukit Tech View, as well as residences along Bedok Reservoir Road, Jalan Damai and Jalan Tenaga.

10.  Bedok North Station

Bedok North station is located at Bedok North Road, near the Pan-Island Expressway flyover. The station has three entrances and comprises three levels – concourse, mezzanine and platform.

The station will serve Damai Primary School, Bedok Town Park, HDB estates and industrial buildings nearby.

11.  Bedok Reservoir Station

Bedok Reservoir station is located at Bedok Town Park, beside Bedok North Avenue 3. The station has two entrances leading to the residential blocks in the vicinity and the Bedok Town Park.

The station will serve many schools, residences and parks such as Bedok Town Park, Bedok Reservoir Park, Damai Secondary School, Bedok Green Secondary School, Red Swastika School, Yu Neng Primary School and residences along Bedok Reservoir Road.

12.  Tampines West Station

Tampines West station is located at Tampines Avenue 4, near the junction with Tampines Avenue 1. It has two entrances leading to HDB blocks nearby. Both entrances are connected directly to taxi stands, drop-off points and bicycle parks. The last tunnel boring machine (TBM) on DTL3 broke through into the Tampines West station in June 2015, marking the completion of tunnelling works along the DTL3. The station will serve Temasek Polytechnic, Junyuan Primary School, East View Primary School, Tampines Polyview and Tampines Palmspring HDB estates.

13.  Tampines Station

Tampines station is located along Tampines Central 1. The station has three entrances and comprises three levels – subway (retail level), concourse and platform.  The station is connected to the Tampines Bus Interchange and the EWL and will service commuters travelling to offices and shopping areas around the Tampines town centre. The station will also serve commercial buildings such as OCBC Tampines Centre One, AIA, Telepark, Our Tampines Hub and residences in Tampines.

14.  Tampines East Station

Tampines East station is located along Tampines Avenue 7, near the junction with Tampines Avenue 2. It has four entrances leading to the current site of Tampines Junior College and HDB blocks in the vicinity. The station will serve Tampines Junior College, Ngee Ann Secondary School, Tampines North Park and residences nearby.

15.  Upper Changi Station

Upper Changi station is located at Upper Changi Road East. At 205m, the station is the longest on the DTL3. It has four entrances and comprises three levels – concourse, intermediate, and platform. Two of the entrances are connected directly to bus stops, taxi stands, drop – off points and the bicycle park. The station will serve the Singapore University of Technology and Design and residential estates in the vicinity. For the convenience of movement between the station and SUTD, there will be an underground linkway between them.

16.  Expo Station

Expo station is located along Changi South Avenue 1, 25 metres below ground level. It has four entrances and comprises three levels. The station will primarily serve Singapore Expo and a major business hub, the Changi Business Park. As Expo connects to Changi Airport on the EWL, commuters will have an additional travel option when going to the airport.

https://www.lta.gov.sg/apps/news/page.aspx?c=2&id=5c4e424c-1a46-44cb-92d0-212e37a2b6df

JLL: investment sales set for bull run in 2017

According to consultancy JLL in a new report, property investment sales are set for a bull run after a spectacular start to the year. The positive outlook is being driven by the office, and possibly the retail and residential sectors.

The overall value of real estate investment deals soared 67 % in the first quarter to $4.99 B – of which $4.47 B was from the private sector.

Private investment sales of office property accounted for $2.12 B – the sector’s strongest first-quarter showing for the past 9 years. The $2.12 B figure was a 60.6 % rise from the fourth quarter, and more than treble that of a year ago. Last year’s private-sector investment sales stood at $19.06 B.

The top two office deals in the first quarter were entity sales. One was the sale of the entire interest in the holding company of PwC Building in Cross Street to an indirect unit of Manulife Financial Corporation for $760.6 M. The other was the divestment of the entire interest in Plaza Ventures – the owner and developer of GSH Plaza in Cecil Street – to Hong Kong-listed Fullshare Holdings for $725.21 M.

JLL noted the potential for the full-year sales of private office assets to surpass the $6.49 B recorded last year, considering the recent deal for One George Street and sizeable assets available in the market, including Asia Square Tower 2 in Marina Bay.

The residential segment, registered $1.69 B in private investment sales for properties valued at $5 M and above in the first quarter.
For retail and industrial sectors, private investment sales more than doubled that from the previous year in the first quarter: $280 M for retail and $390 M for industrial.

JLL predicts a bright investment sale outlook for the year, driven by the recent sale of the $2.2 B Jurong Point mall and upbeat sentiment in the private residential market. A growing appetite for collective sale sites by developers facing depleting land banks and limited supply of sites from the Government could also lend support to investment sales.

Closing up the Circle Line starting in 2018

Advance preparatory works to make the Circle Line a complete loop, by joining HarbourFront station to Marina Bay station, have begun. Tenders for the civil works are expected to be awarded by the year end, and construction will begin in 2018Q1

The 4-km CCL6 line will close the loop for the CCL by connecting HarbourFront Station to Marina Bay Station. When the three CCL6 stations of Keppel, Cantonment and Prince Edward are completed in 2025, the CCL will have a total of 33 stations, including 12 interchange stations with other MRT lines.

Expanding the rail network to more areas such as the southern edge of the existing CBD, CCL6 will support direct east-west travel. Besides reaching new commuters, the extension will allow those travelling between the south-western and south-eastern ends of the line – such as from Pasir Panjang to Nicoll Highway – to have more direct and quicker access.

The stage is being set to build the three new stations that will complete the Circle Line. Keppel station will serve commuters at Keppel Distripark, while Cantonment station will be near Tanjong Pagar Railway Station and offer access to Spottiswoode Park Estate. The Prince Edward station will be near Palmer Road, where heritage landmarks are.

The extension will also serve part of the Greater Southern Waterfront, a massive mixed-used development that will commence once the Tanjong Pagar, Keppel and Brani port terminals are relocated to Tuas after their leases expire in 2027.

Preparatory works include relocating affected facilities at PSA Keppel Terminal for the construction of Keppel station, dismantling the platform canopy structures of Tanjong Pagar Railway Station and the relocation of Shenton Way Bus Terminal for the construction of Prince Edward station.

Former Queenstown cinema site sold for $78M

A PRIME commercial-zoned piece of vacant land – where the former Queenstown cinema and bowling centre once stood – has been sold for S$78 million. The price for the site, which has a balance lease term of 57 years, is understood to work out to about S$756 per square foot of potential gross floor area.

The site is at the corner of Commonwealth Avenue and Margaret Drive, located a stone’s throw from Queenstown MRT Station. The site comprises two lots of land adding up to 32,305 sq ft. The Queenstown Public Library – which opened 46 years ago and was granted conservation status in 2013- still stands near the site.

Crescendas Group is selling the property to a company controlled by property developer and investor Cheong Sim Lam, a member of the family that developed International Plaza in Anson Road in the 1970s.

Crescendas was previously granted written permission to redevelop the site into a seven-storey commercial building but that approval has since lapsed and the new owner will have to make a fresh application for the site’s redevelopment. Under the Urban Redevelompment Authority’s Master Plan 2014, the site is zoned for commercial use.

Based on the land price of around S$756 per square foot per plot ratio, a new commercial development on the site could breakeven at about S$1,800-1,900 psf, say market watchers. The buyer, Mr Cheong, has been in the news in recent years for his property investments in the Central Business District. He bought two adjacent office buildings at 137 and 139 Cecil Street around 2009 but sold them in 2015 and 2014 respectively.

Along Marine Parade Central, he is developing a four-storey commercial building named IMall, on the former Republic Theatre site.

All HDB industrial properties to JTC by 2018

By the first quarter of 2018, all 10,700 industrial units and 540 land leases under the Housing & Development Board (HDB) will be consolidated under JTC, a single agency offering one-stop access to a full range of Singapore’s public-sector industrial facilities.

The properties will be transferred from HDB’s portfolio to JTC’s at net book value.

Minister for Trade and Industry Lim Hng Kiang said this will better support small and medium-sized enterprises (SMEs) in their business growth.

The government will be able to undertake more comprehensive master-planning of industrial estates across Singapore; the move will also facilitate more efficient clustering of complementary activities and integration of activities along the value chain.

JTC wants to bring HDB tenants under its fold to offer them the same support that JTC tenants under the parentage of the Ministry of Trade and Industry enjoy, and to enhance their productivity and transform them into more competitive enterprises. (HDB falls under the Ministry of National Development.

One common problem HDB industrial tenants face lies in finding adjacent space into which to expand; many end up taking space in multiple venues, sometimes across the island. What JTC can offer SMEs is contiguous large floor plates in its own facilities.

It can also help SMEs plan ahead, by charting their growth trajectories and anticipating their future needs. JTC can provide, not just bigger spaces, but also land for expansion.

Guoxin Manufacturing is one example of an HDB tenant that is moving into a 1,180 sq m space at JTC Space @ Tampines North; this is twice the amount of space it used to occupy over five different units in Tuas and Ubi.

All HDB tenants and lessees affected by the consolidation will continue to be served by the same team of 160 HDB officers, who will be transferred to JTC. JTC also gave the assurance that the contracted terms and conditions of their tenancies and leases with HDB will remain.

 

Thomson-East Coast Line to start building in Q12016

According to LTA announcement yesterday, the Thomson-East Coast Line (TEL) will start construction in this quarter. About $948m of MRT contracts have been awarded for the stations and related tunnels at Tanjong Rhu, Katong Park and Marine Terrace. The construction is slated for completion in 2023. In November last year a contract was awarded to construct Marine Parade station and associated tunnels. The contracts for 5 more TEL stations are yet to be awarded.

Starting from 2019, the TEL will open in stages, with the entire 31-station, 43 km line expected to be fully operational by 2024.

Singapore Private Propertys fall 3.2% for second quarter

Singapore recorded the second-biggest year-on-year drop in private property prices in Asia for the second quarter, according to an index out yesterday.

It noted that apartment prices fell 3.2 per cent in the three months to June 30 over the same period a year earlier. China was the only Asian country to fare worse, with values there dropping 5.7 per cent in the same period.

Overall, Singapore had the eighth biggest price decline among 56 global residential markets tracked by the Knight Frank Global House Price Index. Ms Alice Tan, director and head of consultancy and research at Knight Frank, said yesterday: “Prospective buyers remain cautious against the backdrop of existing cooling measures and… anticipate further price correction.”

More falls in prices and rents are expected due to a range of factors, including more completed homes hitting the market, impending interest rate hikes and a faltering economy, both here and overseas, she added.

The Knight Frank Global House Price Index – which is compiled quarterly with official statistics where available and weighted by gross domestic product (GDP) – posted a marginal 0.1 per cent growth. It was the weakest growth rate since the final quarter of 2011.

Among the 56 housing markets tracked, 27 per cent recorded an annual decline in prices, said Knight Frank. “Lingering concerns over the euro zone economy, jitters in global stock markets and discussions of when, not if, a rate rise in the United States occurs are impinging on growth,” the property consultancy said in a statement.

Hong Kong topped the table with a 20.7 per cent year-on-year price growth, thanks to increasing liquidity and the flow of wealthy Chinese investors into its sector.

Dubai was at the bottom of the index, with prices weakening 12.2 per cent year-on-year due to weaker demand, a strong US dollar and ongoing cooling measures.

Knight Frank noted that the housing markets in China and the US – two countries which together account for about 33 per cent of global GDP – are on divergent paths.

Mainstream prices in China are down an average of 6.2 per cent from the start of last year, while those in the US are up 7.6 per cent.

http://www.straitstimes.com/business/spore-private-property-prices-fall-32-for-q2