Tag Archives: EC

Govt to boost infrastructure for growing population

Posted on 27 Jul 2012 | Comments Off on Govt to boost infrastructure for growing population

In a bid to meet the needs of Singapore’s growing population, the government plans to increase infrastructure development in the country over the next decade.

A report released by the National Population and Talent Division (NPTD) revealed that infrastructure capacity has failed to keep pace with population growth in recent years.

As a result, the government needs to ramp up housing supply, transport and public services over the next five to 10 years.

The Housing and Development Board (HDB) is expected to deliver another 25,000 new flats this year. This is in addition to the increased availability of private housing and executive condominium (EC) sites.

The report also underlined HDB’s efforts to improve the living environment in HDB estates through a S$2.5 billion allocation from the Ministry of National Development (MND).

More nursing homes and hospitals are also set to be built, including the new Ng Teng Fong Hospital, the Integrated Building for St Andrew’s Community Hospital and Changi General Hospital by 2014. The Sengkang General Hospital is expected to be ready by 2018.

In addition, two new community hospitals in Yishun and Jurong, co-located with Khoo Teck Puat Hospital and Ng Teng Fong Hospital – are set to open by 2015 while another community hospital to be co-located with Sengkang General Hospital will likely be ready by 2018.

Source : PropertyGuru – 27 Jul 2012

 

 

 

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8,000 new private homes estimated in H2

Posted on 7 Jul 2012 | Comments Off on 8,000 new private homes estimated in H2

Property developers will launch some 8,000 new private homes over the next six months, according to analysts’ estimates.

While there are small risks of oversupply in the horizon, market watchers told Channel NewsAsia that private property prices should remain stable this year.

A consortium comprising Hong Leong Group, City Developments and TID Residential won the tender for the site at Mount Vernon in January this year which is expected to yield more than 700 private home units.

It is one of the 15 residential land parcels that were successfully tendered out by the government last year which have yet to be launched.

Ooi Yi Tung, director of Square Foot Research, said: “In (the) first half, there were at least about 9,000 to 10,000 units launched. But for the second half, we are expecting about 8,000.

“Interestingly, there will be no ECs (executive condominium) in the second half of this year. There might be one along Upper Serangoon Road, which if they make it in the second half, but other than that, it will be a pure private residential and pure mixed project.”

Besides the plot of land at Alexandra Road, which was awarded in December last year, analysts forecast another mixed residential-commercial project at Bukit Panjang should excite home buyers in the second half of 2012.

Analysts believe demand will remain robust.

But any major financial crisis lasting more than two years could dampen sales, especially from a growing group of investors.

Nicholas Mak, research head, SLP International, said: “The government seems to be on the steady path of pushing out ample supply of development sites in the past few GLS programmes and likely will push out more in the next one year or so. However, the robust home buying demand is still likely able to absorb the oncoming supply.”

This year, analysts estimate new home sales to surpass last year’s record 17,750 private home units.

Source : CNA – 2012 Jul 5

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