Category Archives: Government

URA establishes Rail Corridor Partnership to explore and promote community activities along Rail Corridor

The Urban Redevelopment Authority (URA) announced today the formation of a Rail Corridor Partnership to look into the programming and promotion of community activities along the Rail Corridor. The Partnership is an expansion of the Rail Corridor Consultation Group, which was formed last July to provide input to the government on charting the future development plans for the Rail Corridor.

With the re-opening of the Rail Corridor on 9 January 2012, the Partnership will look for opportunities to promote community use of the space that spans the entire width of the island from north to south. Representatives from agencies such as the Ministry of Education, Ministry of Community Development, Youth and Sports, Singapore Sports Council, and People’s Association will join the Partnership to further foster public-people sector collaboration along the Rail Corridor.

Collaborative effort to promote activities on the Rail Corridor

President Tony Tan Keng Yam, who visited the ‘Journey of Possibilities’ exhibition at the URA Centre, said, “I am very encouraged that many groups and individuals are taking a keen interest in the Rail Corridor and are actively contributing their ideas and suggestions on the development and uses of the Rail Corridor. I am also glad that URA is stepping up engagements with Singaporeans to develop the Rail Corridor into a unique feature of our urban landscape that can be enjoyed by all Singaporeans.”

Minister of State for National Development Tan Chuan-Jin, who chairs the Partnership, highlighted the collaborative nature of the group. He said, “The expanded role of the Rail Corridor Partnership will see a stronger collaboration between public sector agencies, interest groups, and individuals to promote and support suitable activities and events along the Rail Corridor. I hope that our engagement will continue to be constructive and fruitful going forward.”

The URA will work closely with partner agencies to assess the range of possible community uses and events as well as the necessary infrastructural requirements needed to support these activities along the Rail Corridor. The Rail Corridor Partnership will also provide advice on the public engagement efforts and proposed activities for the Rail Corridor. Such activities could span from community level events to national events that utilise the entire Rail Corridor. The feedback gathered from these events would be used by URA to draw up the design specifications and requirements that will form part of the brief for the Rail Corridor Master Plan and Design Competition that is being considered at the moment.

President met with winners of Ideas Competition

During his visit to the ‘Journey of Possibilities’ exhibition, President Tony Tan met with some of the winners of the Ideas Competition who shared with him their ideas for the Rail Corridor. The President was also introduced to members of the Rail Corridor Partnership and jury members of the Ideas Competition.

The ‘Journey of Possibilities’ exhibition features about 80 entries comprising 18 winning ideas, 19 honourable mentions, as well as other innovative entries received for the Ideas Competition. The exhibition also showcases some of the interesting feedback and suggestions received on URA’s Rail Corridor website since its launch in July last year. The exhibition ends on 11 May 2012.

The URA launched the Ideas Competition on 30 November 2011 to draw innovative and fresh new ideas from the public in addressing some of the key challenges and issues in planning for the future use of the Rail Corridor. The Ideas Competition attracted more than 200 submissions from both local and overseas participants. The URA will study the ideas and concepts from all these entries and distil from them suitable design principles and parameters that can form part of the brief for the Rail Corridor Master Plan and Design Competition that may be held in the future.

Source: URA

The MRT premium for housing market

With concerns mounting that there will be an oversupply in the private home market, property developers will be increasingly selective about the sites for sale under the Government Land Sales programme in the second half of this year, analysts said.

They are likely to bid for the sites with the most attractive locations, such as those near MRT stations. Among these, the sites on Alexandra Road and Bishan Street 14 are likely to attract much interest.

The Alexandra Road plot is a short walk from the Redhill MRT station. With a gross plot ratio of 4.9 yielding 524,300 sq ft of gross floor area, the land’s minimum price is estimated at between S$420 million and S$445 million, or S$800 to S$850 per sq ft.

To yield a potential 545 units, it is slated for sale in October and is on the Confirmed List of the Government Land Sales (GLS) programme.

“This site could attract the bigger developers, and even the mid-sized ones will join forces to go in,” said Mr Nicholas Mak, executive director of research and consultancy at SLP International.

“Some of the newer condominiums around the Redhill MRT Station could be transacting at prices of S$1,300 to S$1,400 per sq ft, especially for the smaller units,” he noted.

Ascentia Sky, the property adjacent to the land parcel, is currently selling at an average of S$1,422 per sq ft and 299 out of the 373 units have been sold.

While there may be risks of oversupply, the GLS programme could be adjusted according to future demand, said analysts.

But for now, demand is robust, especially for sites near MRT stations, such as the Reserve List site on Bishan Street 14.

The Government will consider launching a Reserve List site for sale if more than one unrelated party submit minimum prices that are close to its reserve price within a reasonable period.

Analysts said it would not be a surprise if CapitaLand bids for the site.

“We have good location, good amenities in there, good shopping areas, good schools in the neighbourhood … We won’t dismiss the possibility of CapitaLand again looking very closely at the site, I believe. Since they have won the adjacent area, they may be looking at this as well to create a more continuous development,” said Dr Chua Yang Liang, head of South-east Asia research at Jones Lang LaSalle.

CapitaLand won the adjacent Bishan Street 14 site in February with a top price of S$550.1 million, beating the next highest bidder Keppel Land by 27 per cent.

The GLS sites at Punggol Central and Bartley Road are also attractive as they are located within walking distance to MRT stations, analysts said. With these choice locations, properties in such areas will be a hit with families and HDB upgraders, they added.

Source : Today – 11 Jun 2011