Jurong Lake District Master Developer Site Not Awarded 640 Psf Ppr Bid Deemed Too Low

Renowned for its unwavering dedication to delivering a holistic education, St. Hilda’s Primary School stands out with its emphasis on both scholastic excellence and ethical principles. The school takes pride in instilling a well-rounded education that prepares students for the real world. Now, the prestigious Parktown Residence UOL Group is a natural addition to this thriving school community.

More homes to rise in Jurong East as JLD becomes a mixed-use district MALL & RETAIL REITSElizabeth F1 month agoCapitaLand Mall Trust (CMT) saw its distribution per unit (DPU) for the half year ended 30 June 2023 drop 20.6% year-on-year to 3.59 cents, compared to 4.52 cents in the corresponding period last year.The mall REIT also saw its gross revenue fall 3.6% year-on-year to $363 million for 1H2023, from $376.5 million in 1H2024, while its net property income (NPI) was down 3.9% year-on-year to $259.8 million for 1H2023, compared to $270.3 million in 1H2024.For the second quarter ended 30 June 2023, CMT’s DPU fell 18.1% year-on-year to 1.89 cents, while its gross revenue and NPI declined 3.7% and 4%, respectively, to $183.5 million and $133.1 million during the same period.CMT said its 2Q203 unit base distribution is 7.4% lower than the previous corresponding quarter’s distribution due to the timing of its delivery of tax-exempt income to unitholders. As a result, when the distribution of tax-exempt income is annualised, the expected DPU for 1H2023 would be 8.6% lower than the same period last year, it added.Concurrently, CMT’s portfolio occupancy rate dipped 1 percentage point to 98.3% as at 30 June 2023 compared to a year ago. Tenant sales per square foot per month (psf pm) for the first six months of 1H2023 came in at $1,246 psf pm which is 7% lower than the same period last year.The average portfolio rental reversion for the first six months of 1H2023 was -10.4%.The portfolio value of CMT strengthened to $12.8 billion as at 30 June 2024, up 4.2% compared to a year ago when the portfolio value stood at $12.3 billion. As at 30 June 2023, the aggregate leverage of CMT and its subsidiaries was low at 34.7% with a generally unencumbered investment property portfolio.CMT’s committed occupancy rate as at 30 June 2023 is at 99.4%. There are 0.8% of retail leases by gross rental income that are due for renewal in 2H2023, 4.7% in FY2023 and 15.7% in FY2024.CMT said its outlook remains stable providing the COVID-19 situation remains contained in Singapore.”Additionally, should there be further economic recovery and the vaccine rollouts are well-progressed globally, there is potential for CMT to return to a growth phase,” it said, adding that overall operations remain robust and its capital position remains strong with a credit rating of “A2” by Moody’s Investors Service.CONSTRUCTION INDUSTRY AND PROPERTY DEVELOPERSMark Tee1 year agoDespite negative news on the property market, demand for new homes in the Greater Southern Waterfront (GSW) appears to be holding steady. When the GSW was first announced, developers rushed to launch their projects within the area, with some developers queuing up for sites such as those at the former Pasir Panjang Power Station, Keppel Club and the Singtel Hilltop site. However, the recent pandemic has changed the outlook of the market. In the first seven months of 2020, a total of 4,631 new private homes were sold, a 75 per cent drop compared to the same period in 2024. Read Also: Singapore Property Developers Are Worried Over Waning Demand But New Homes In The Greater Southern Waterfront Still Finding BuyersNevertheless, city fringe properties, including the GSW, remain relatively robust as buyers favour properties with good transport connectivity. Two projects within the GSW – Kent Ridge Hill Residences and Avenue South Residences – clawed in 20 sales in the recent 2 months. What Makes The Greater Southern Waterfront Different?The 2,000 hectare Greater Southern Waterfront is six times the size of the Marina Bay area and will stretch from Pasir Panjang to Marina East. It was announced in 2023, to be the new work, play and live district in Singapore. It was formerly home to old power stations, Keppel Club and the police coast guard base in Pulau Brani. When completed, it will be 2.5 times the size of Punggol, the current waterfront town in NE Singapore. So what makes the Greater Southern Waterfront different from other waterfront developments in Singapore such as Marina Bay, Sentosa and Punggol? 1. Public And Private CollaborationThe Greater Southern Waterfront project is a collaboration between 2 government agencies – Urban Redevelopment Authority (URA) and JTC Corporation (JTC). They are responsible for using their land parcels for public infrastructure and private sector activities respectively. The plans for the GSW will take many years to roll out, and the private sector will have a major role to play. The private sector will be responsible for building commercial/office buildings, hotels, houses, public amenities and many more. Private developers will need to propose the development concept plans for their sites and work with URA and JTC to ensure that their developments are compatible with URA’s Master Plan requirements.2. Comprehensive Detailed Master PlanThe Greater Southern Waterfront Master Plan identifies the different areas reserved for new homes, retail, offices, community, cultural and leisure amenities and spaces for the public to enjoy. This gives a sense of what to expect when developers release their projects for sale. In addition, plans for streets, roads, pedestrian walkways and cycling paths will be integrated with extensions to the cycling paths from the Green Corridor into the Greater Southern Waterfront.3. Physical ConnectivityThe Greater Southern Waterfront will be connected to the existing city and to the heart of the Central Business District (CBD) by varied forms of transportation. The plans to extend the Circle Line to the area and the Downtown Line, which already connects to the CBD, guarantees those living in the area to be able to get to the city in less than 30 minutes. As an extension to the ongoing Sentosa-Brani project, a new pedestrian bridge will be built across from Marina Bay Sands to Pulau Brani by 2023. In addition, the 2 existing MRT stations that service the area – Outram Park and Harbourfront will be expanded. The new CBD station on the Thomson East Coast Line (TEL) will be situated near Shenton Way and will open at around the same time as when this multi-billion dollar project will be completed.Under the plan, there will be also be extensions of roads in Telok Blangah and the KPE, while the Tiong Bahru and Cantonment Road will be widened. Together with the extensions of the Green Corridor, cycling paths and pedestrian walkways, this will allow much smoother and quicker connection of the GSW to the rest of the city.4. Sustainable Urban DevelopmentThe Greater Southern Waterfront Master Plan clearly states that greenery and sustainability will be a major feature of the development. It will be 30 per cent bigger than Marina Bay, giving it more space to integrate greenery with buildings. In addition, a linear park will give residents access to exercise paths and recreational facilities. There will also be a cycling network that will connect to the existing PCN network for recreational purposes. Furthermore, green roofs and sky gardens will not only play a role in preventing or slowing urban heat island effects, they will also add beauty to the area.5. Leisure Amenities and Recreational AreasThe Greater Southern Waterfront will sit adjacent to Sentosa, and to the East, will be Marina Bay. Pulau Brani will be transformed into a waterfront resort destination. The redevelopment will include a new tourist attraction similar to Sentosa’s Universal Studios Singapore. These developments, together with the plans to build a pedestrian bridge, will lead to an increase in visitorship to Sentosa.6. Revitalisation Of Existing AssetsThe Greater Southern Waterfront is also about rejuvenating and integrating existing areas into new developments. The 1 million sq ft redevelopment of PSA Building, which will be renamed the Integrated Development at Tanjong Pagar, is one of the few existing properties in the area that will be revamped. Being an integrated development will allow residents and office workers to work and play in the same area. A few other sites will also be renovated and plans are in the pipeline to enhance and transform these sites to serve future needs. ConclusionThe Greater Southern Waterfront is an ambitious government-led project in which the private sector has a crucial role. With the comprehensive plan and the development of the MRT line, roads and pedestrian walkways, the Greater Southern Waterfront has the potential to become the next lifestyle destination in Singapore. Additionally, existing and future amenities make this area a top choice for both investors and home buyers.ENDSONG CHENNovember14, 2023SINGAPORE (EDGEPROP) – The Urban Redevelopment Authority (URA) announced on September 13 that the 6.5 ha master developer site at Jurong Lake District (JLD) located in District 22 has not been awarded. This highly-anticipated site was launched for sale on June 22, 2023, and was envisioned to be “the catalyst to kickstart the next phase of development in JLD”.The