Tag Archives: Tampines Regional Centre

Downtown MRT Line boosts home prices

“Many studies have shown the positive impact on prices for houses within proximity to new public transportation, most notably metro systems, tram, suburban railway and bus stations,” according to the latest Knight Frank report on the impact of transport corridors and urban mass transit systems on house prices.

In Singapore, Stages 2 and 3 of the Downtown MRT Line have led to value enhancements of private non-landed residential developments around future stations.

Downtown Line
Source: Knight Frank

Prices of developments situated within 500 metrs of the future Hillview, Beauty World and King Albert Park MRT stations along Upper Bukit Timah Road (in District 21) and Rochor station (in District 7) have seen prices surpass the 20.5 percent average increase in the Outside Central Region (OCR) non-landed private residential price index, since the announcement of alignment plans for Phase 2 of the Downtown MRT Line.

Stage 2 of the Downtown MRT Line is set for completion in 2016 and will run from Bukit Panjang through Bukit Timah, while Stage 3 covers the industrial areas of Ubi and Kaki Bukit as well as Tampines Regional Centre and Changi Business Park when it is ready by 2017.

According to the Global Competitiveness Index by the World Economic Forum, Singapore ranked second globally in terms of infrastructure, with Hong Kong taking the top spot.

Global Competitiveness Index by the World Economic Forum


CapitaMalls Asia, CapitaMall Trust, CapitaLand to develop $1.5b shopping mall and office at Jurong Gateway

CapitaMalls Asia, CapitaMall Trust Management, the manager of CapitaMall Trust; and CapitaLand says they have won the bid for a land parcel at Jurong Gateway by the Urban Redevelopment Authority (URA).

The group had submitted the top bid of about $969 million for the site which is located next to both Jurong East MRT station (an interchange station with two major train lines) and Jurong East bus interchange.

Under the URA’s Jurong Gateway project, the precinct will feature a mix of office, retail, hotel, entertainment, food & beverage and other complementary uses. Jurong Gateway is about 2.5 times the size of Tampines Regional Centre.

The total development cost is expected to be about $1.5 billion.

Source : TheEdge – 1 Jun 2011