View Full Version : KTMB station in Tanjong Pagar to relocate - Good Deal for Spore?
KTMB station in Tanjong Pagar to relocate to Woodlands by 1 Jul 2011
By S Ramesh CNA| Posted: 24 May 2010 1432 hrs
SINGAPORE : The Prime Ministers of Malaysia and Singapore have agreed that the Keretapi Tanah Melayu Berhad (KTMB station) currently in operation at Tanjong Pagar will be relocated to the Woodlands train checkpoint by 1 July 2011.
Announcing this in a joint statement on Monday in Singapore, Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak also agreed that Malaysia would co-locate its railway and Customs, Immigration and Quarantine (CIQ) to the Woodlands train checkpoint.
Singapore would facilitate the relocation to the Woodlands train checkpoint and ensure bus service connectivity from the KTMB station at Woodlands to a nearby MRT station for the convenience of train passengers.
Both countries also announced that a company known as MS Pte Ltd will be established as soon as practicable but not later than 31 December this year.
Malaysia would hold a 60 per cent stake in this company under Khazanah Nasional Berhard while Singapore will have a 40 per cent share to be held by Temasek Holdings.
The three parcels of land in Tanjong Pagar, Kranji and Woodlands, and another three pieces of land in Bukit Timah will be vested by MS Pte Ltd for joint development which in turn could be swapped on the basis of equivalent value for pieces of land in Marina South and/or Ophir-Rochor.
The joint statement says both sides will conduct their respective valuations.
Prime Minister Lee will visit Kuala Lumpur within a month with a proposal for the land swap for Malaysia.
The transfer of the land parcel to MS Pte Ltd will take effect at the time when KTMB vacates the Tanjong Pagar Railway Station.
This is indeed very good news to all properties next to the existing railway track. Not sure Dr M will try to block it.
new2mondrian
24-05-10, 18:03
actually should do unto them what they did unto us during the CLOBbered saga. Just acquire the land via land acquisition act and compensate them using fair value of land. Otherwise this opens up a huge can of media worms anyway. Just a matter of which approach produces more worms.... might be the same at the end of the day.
Why 60:40%?
Will this be a contentious issue later?
Wild Falcon
24-05-10, 20:36
It's quite a clean solution - it's like both sovereign wealth fund - Khazanah and Temasek forming a JV to jointly own and develop the land. Khazanah has the majority stake and so presumably would still call the shots on how the land is gg to be developed. Considering the railway land is long and narrow and not very space efficient to develop anything, they are likely to choose the "swap" for land of equivalant value at Marina South. No wonder our govt is so gung ho in reclaiming land in Marina - it's in anticipation of the swap with the Malaysians :)
I really hope our government will preserve some parts of the railway track or the bridge at the Rail Mall (in addition to the key stations). It's rustic and preserve a certain part of our history. For those photography buffs, better go down and take photos of the train zooming part and the crumbling tracks soon before they are gone forever. Another part of history lost.
Why 60:40%?
Will this be a contentious issue later?
Wild Falcon
24-05-10, 20:58
And I really hope our government can consider developing the disused railway tracks to a "rail trail" just like the the rail trails in US and Australia :) The rail trail can be used for hiking, cycling and other recreational activities as it runs through some of the most rustic and greenest part of Singapore. It's a shame to dismantle the tracks.
proud owner
24-05-10, 21:01
It's quite a clean solution - it's like both sovereign wealth fund - Khazanah and Temasek forming a JV to jointly own and develop the land. Khazanah has the majority stake and so presumably would still call the shots on how the land is gg to be developed. Considering the railway land is long and narrow and not very space efficient to develop anything, they are likely to choose the "swap" for land of equivalant value at Marina South. No wonder our govt is so gung ho in reclaiming land in Marina - it's in anticipation of the swap with the Malaysians :)
I really hope our government will preserve some parts of the railway track or the bridge at the Rail Mall (in addition to the key stations). It's rustic and preserve a certain part of our history. For those photography buffs, better go down and take photos of the train zooming part and the crumbling tracks soon before they are gone forever. Another part of history lost.
that old man who plants his fruits and vegetable next to the track along clementi stretch has to move leow ..
previously govt cant do anything abt it becos its Malaysian land ..
after this exercise ..he L L must move his vegetables
proud owner
24-05-10, 21:02
And I really hope our government can consider developing the disused railway tracks to a "rail trail" just like the the rail trails in US and Australia :) The rail trail can be used for hiking, cycling and other recreational activities as it runs through some of the most rustic and greenest part of Singapore. It's a shame to dismantle the tracks.
in NY city .. a stretch of old railway was converted into a sky park .. really nice
was about to sell off a hdb unit at Purmei, now with this news don't know whether to hold or to sell.:confused: Of course any development to the nearby area will take some years.
what do you guys think? Any advice is welcome.
Wild Falcon
24-05-10, 21:58
Yup. My cycling enthusiasts friends are already excited about the prospect of a rail trail - we're talking about continuous 20km of heritage trail running from the north to the south of SG with superb terrain. To have a long continuous off-road trail would be a dream come true for most cycling and trekking enthusiast. Anyway, it's still a dream lah :)
in NY city .. a stretch of old railway was converted into a sky park .. really nice
Wild Falcon
24-05-10, 22:00
Really not sure what will happen to those railway stations and land. I read somewhere the Tanjong Pagar and Bukit Timah station will be conserved. The rest (including the vegetable garden) is "up in the air" :rolleyes:
was about to sell off a hdb unit at Purmei, now with this news don't know whether to hold or to sell.:confused: Of course any development to the nearby area will take some years.
what do you guys think? Any advice is welcome.
what abt the mass rapid railway from singapore into tanjung puteri via JB....? then malaysian working in singapore will rather buy house in JB , even singapore will buy a landed there with half of what they pay for a HDB...?
This is indeed very good news to all properties next to the existing railway track. Not sure Dr M will try to block it.
Wild Falcon
24-05-10, 22:59
Hmm... The mass rapid train is expected to be operational by 2018 - very ambitious leh - how come our MRT line take so long to complete but this mass rapid train can be so fast?
But I suspect the charges for such bullet train won't be cheap, so Malaysians working here will have to weigh the cost vs benefit of staying in Malaysia.
what abt the mass rapid railway from singapore into tanjung puteri via JB....? then malaysian working in singapore will rather buy house in JB , even singapore will buy a landed there with half of what they pay for a HDB...?
what abt the mass rapid railway from singapore into tanjung puteri via JB....? then malaysian working in singapore will rather buy house in JB , even singapore will buy a landed there with half of what they pay for a HDB...?
It is MRT or KTM that run from Woodland to JB? I wonder if the station will be near Woodland MRT station or in Woodland Center?
Hmm... The mass rapid train is expected to be operational by 2018 - very ambitious leh - how come our MRT line take so long to complete but this mass rapid train can be so fast?
But I suspect the charges for such bullet train won't be cheap, so Malaysians working here will have to weigh the cost vs benefit of staying in Malaysia.
Govts need to throttle infrastructure spending to either take up the slack in GDP caused by lesser private investment or to moderate GDP when more private investment, so that you can have good GDP numbers every year.
So, projects will be ranked in terms of priority and budget appropriately allocated. If one shot do all, you can have 10%-20% GDP growth for 5 yrs , then the next decade do what?
proud owner
25-05-10, 00:59
was about to sell off a hdb unit at Purmei, now with this news don't know whether to hold or to sell.:confused: Of course any development to the nearby area will take some years.
what do you guys think? Any advice is welcome.
hold lah
but if you die die want to sell ... call me
i always love that area ..
Wild Falcon
25-05-10, 10:38
It was reported the station at Tanjong Pagar which is like 5 football fields will be conserved and the area is likely to be commercial or residential development. Not sure what will happen to the HDB nearby though. Another shopping mall or condo doesn't mean property value in that area will shoot up. Sigh! Looking at our govt, all the land (including the tracks) will be somehow developed into shopping malls or residential. My hope of a rail trail can wait long long liao.
hold lah
but if you die die want to sell ... call me
i always love that area ..
With our Temasek great track record and under the watchful eyes.. Am sure this will indeed be a very good deal.. !
60/40 .. dun think a BIG issue...
Only history can be the judge considering all the twists and turns ...
:)
hold lah
but if you die die want to sell ... call me
i always love that area ..
thanks for the replies. Read papers,
Might have to wait for our PM to meet up with them with what Sg has to offer for the swap. Who knows, sekali next month they change their mind.
Tanjung Puteri is just next to current JB immigration office, I don't think it is a bullet train. It is more like an extension of our MRT line from Kranji or Marsiling station toward Tanjung Puteri. It is highly possible to complete this within next 3-5 years if there is no political issue .
http://maps.google.com.sg/mapdata?CxWcTRYAHXJnLwYgDwwtnE0WADVyZy8GQKoCSNoBUgJVU5ABA8oBBWVuLVNH (http://maps.google.com.sg/maps?hl=en&ie=UTF8&q=where+is+tanjung+puteri&fb=1&gl=sg&hq=tanjung+puteri&view=map&cid=11993440859406768500&iwloc=A&ved=0CBkQpQY&sa=X&ei=UpL7S_P0BZaauAOS0Lm8Dg)
Hmm... The mass rapid train is expected to be operational by 2018 - very ambitious leh - how come our MRT line take so long to complete but this mass rapid train can be so fast?
But I suspect the charges for such bullet train won't be cheap, so Malaysians working here will have to weigh the cost vs benefit of staying in Malaysia.
Havent got time to read BT or press release. Can anyone enlighten the term "vested"?
In M&A or JV, the term coined in the contract could be abstract yet powerful as always.
60:40
I doubt the land will be absorb on simple fee into MS Pte Ltd and both parties owned 60:40 at par like some peoples think so. I will be laughing.
More likely capital injection of say, USD/SGD/MYR 400mil from Singapore and USD/SGD/MYR 600mil from Malaysia and land acquisition from this amount and subsequently a stake of 40% for Singapore in MS Pte Ltd.
Any land parcel exchange will naturally park into MS Pte Ltd.
KTMB station in Tanjong Pagar to relocate to Woodlands by 1 Jul 2011
By S Ramesh CNA| Posted: 24 May 2010 1432 hrs
SINGAPORE : The Prime Ministers of Malaysia and Singapore have agreed that the Keretapi Tanah Melayu Berhad (KTMB station) currently in operation at Tanjong Pagar will be relocated to the Woodlands train checkpoint by 1 July 2011.
Announcing this in a joint statement on Monday in Singapore, Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak also agreed that Malaysia would co-locate its railway and Customs, Immigration and Quarantine (CIQ) to the Woodlands train checkpoint.
Singapore would facilitate the relocation to the Woodlands train checkpoint and ensure bus service connectivity from the KTMB station at Woodlands to a nearby MRT station for the convenience of train passengers.
Both countries also announced that a company known as MS Pte Ltd will be established as soon as practicable but not later than 31 December this year.
Malaysia would hold a 60 per cent stake in this company under Khazanah Nasional Berhard while Singapore will have a 40 per cent share to be held by Temasek Holdings.
The three parcels of land in Tanjong Pagar, Kranji and Woodlands, and another three pieces of land in Bukit Timah will be vested by MS Pte Ltd for joint development which in turn could be swapped on the basis of equivalent value for pieces of land in Marina South and/or Ophir-Rochor.
The joint statement says both sides will conduct their respective valuations.
Prime Minister Lee will visit Kuala Lumpur within a month with a proposal for the land swap for Malaysia.
The transfer of the land parcel to MS Pte Ltd will take effect at the time when KTMB vacates the Tanjong Pagar Railway Station.
Wild Falcon
25-05-10, 22:55
Vested usually means having an absolute right or title. So I will take it that MS will have title to the land (probably estate in fee simple).... But obviously both countries are still at the preliminary MoU stage - the devil is in the details :)
proud owner
25-05-10, 23:27
It was reported the station at Tanjong Pagar which is like 5 football fields will be conserved and the area is likely to be commercial or residential development. Not sure what will happen to the HDB nearby though. Another shopping mall or condo doesn't mean property value in that area will shoot up. Sigh! Looking at our govt, all the land (including the tracks) will be somehow developed into shopping malls or residential. My hope of a rail trail can wait long long liao.
actually as it is now ..becos of the railway station .. spottiswood is less crowded ..which makes it so nice ..
with it gone .. spottiswood will be another estate .. sad
Regulators
26-05-10, 12:55
we get 40% better than getting nothing except the noise from the trains hurtling down the tracks every day. Getting rid of the eyesore is worth it imo
With our Temasek great track record and under the watchful eyes.. Am sure this will indeed be a very good deal.. !
60/40 .. dun think a BIG issue...
Only history can be the judge considering all the twists and turns ...
:)
between Outram & Harbourfront, they could add in a station, that's after PSA lease expires i hope.:rolleyes:
Wild Falcon
26-05-10, 16:00
Read the papers today and the property "experts" are all saying the railway tracks are an eyesore and removal of the tracks to build more condos and shopping mall will increase property value? What kind of experts are these? Everything is about increasing property value and money-driven? I don't think the tracks or the steel bridges are an "eyesore" - we should preserve them as rail trails that run all the way from the southern tip of SG to Malaysia. Tourists/locals can also use the rail trails to explore Singapore by cycling through Tanjong Pagar, GCBs at King Albert, vegetation "farm" at Clementi, condos along Upper Bukit Timah & Hillview, Bukit Timah Nature Reserves, Dairy Farm Nature Park, finally reaching the HDB heartlands of Choa Chu Kang etc. It will be a great way to explore Singapore via a gentle continous trail - sometimes tourists just go to Sentosa without really seeing Singapore. the trails are already there - maintaining them will not incur much additional cost.
Maybe Nicholas Mak will suggest the longest shopping mall in Singapore? Faint.:doh: We're talking about improving quality of life of Singaporeans - not everything must be tied to economic growth and property value.
actually as it is now ..becos of the railway station .. spottiswood is less crowded ..which makes it so nice ..
with it gone .. spottiswood will be another estate .. sad
If the deal gone thru, it makes a lot of sense to build 3rd IR at Woodlands to cater for the increasing demands from our neighbour. Right now 6000 travel 50 mins bus trip to two IRs daily fm JB, fare S$40+. Later when the MRT has extended to JB, 10 mins MRT fm JB to Woodlands at S$2 fare, the number can shoot to >20,000 daily. Better still, this is developed by MS Pte Ltd, win-win.
we get 40% better than getting nothing except the noise from the trains hurtling down the tracks every day. Getting rid of the eyesore is worth it imo
Actually, we may not get 40%. We PAID 40%. And in paying, recieving 40% of share value.
Read the papers today and the property "experts" are all saying the railway tracks are an eyesore and removal of the tracks to build more condos and shopping mall will increase property value? What kind of experts are these? Everything is about increasing property value and money-driven? I don't think the tracks or the steel bridges are an "eyesore" - we should preserve them as rail trails that run all the way from the southern tip of SG to Malaysia. Tourists/locals can also use the rail trails to explore Singapore by cycling through Tanjong Pagar, GCBs at King Albert, vegetation "farm" at Clementi, condos along Upper Bukit Timah & Hillview, Bukit Timah Nature Reserves, Dairy Farm Nature Park, finally reaching the HDB heartlands of Choa Chu Kang etc. It will be a great way to explore Singapore via a gentle continous trail - sometimes tourists just go to Sentosa without really seeing Singapore. the trails are already there - maintaining them will not incur much additional cost.
Maybe Nicholas Mak will suggest the longest shopping mall in Singapore? Faint.:doh: We're talking about improving quality of life of Singaporeans - not everything must be tied to economic growth and property value.
There is always another camp with full economic inclined attitude. And also peoples that are hungry of residential building on those space.
If you ask a young couple with no house and would love to have a hdb along those track that you have mentioned, they will fully support getting rid of the track and have a chance to ballot.
The next moment they become owner, they will scream and bug anyone who want to demolish things quoting lifestyle, heritage, etc etc. Human is hard to please.
Wild Falcon
26-05-10, 22:32
Don't think those "ulu" land will be popular with HDB dwellers. Nowadays people like to stay in inner city like Duxton and Queenstown :)
http://www.businesstimes.com.sg/sub/news/story/0,4574,387680-1274903940,00.html?
Published May 26, 2010
KTM land parcels send out a tingle of excitement
All eyes on site at Tanjong Pagar as observers sketch out the possibilities
By LEE U-WEN
(SINGAPORE) Just a day after the prime ministers of Singapore and Malaysia announced that six Malaysia- owned land parcels here would be jointly redeveloped, the market was abuzz with the possibilities awaiting these prime plots of real estate estimated to be worth billions of dollars.
The 'crown jewel' among them is a 16-hectare site in downtown Tanjong Pagar, sitting just a stone's throw from the Republic's busy financial district. The area is also where the 78-year-old Keretapi Tanah Melayu (KTM) railway station is currently located. It will be shifted to the Woodlands Train Checkpoint by July next year.
Property veteran Nicholas Mak, a real estate lecturer at Ngee Ann Polytechnic, said that one possibility for the railway building - which will be conserved because of its historical significance - could be to turn it into a historical hotel similar to the iconic Fullerton Hotel in Raffles Place.
'The site and the surrounding areas where the railway tracks run are very large. By my own estimates we could be looking at several million square feet of potential built-up area,' he told BT yesterday. 'We could see a combination of offices, shops, retail space, as well as some apartments and condominiums. I wouldn't be surprised if the land is eventually carved up into several smaller parcels.'
Prime Minister Lee Hsien Loong is now awaiting an updated valuation of the railway land, after which he will visit his Malaysian counterpart Najib Razak in Kuala Lumpur next month to discuss the swap of the railway land for other real estate in Singapore.
Between them, the six parcels of land span more than 200 hectares, according to Malaysian media reports. Apart from Tanjong Pagar, the other land parcels include one each in Kranji and Woodlands, and three in Bukit Timah.
Cushman & Wakefield managing director Donald Han said that it would make sound business sense for Malaysia to consider swapping Tanjong Pagar for a more urban and developed location such as the Ophir-Rochor area because of the greater potential in enhancing people connectivity.
'The Rochor area has hotels and shopping centres. So there is complementary potential for Malaysia to build and create more attractions for their citizens who want to come to Singapore,' said Mr Han.
While not much is known about exactly where the land parcels in Kranji or Woodlands are, two of the three Bukit Timah sites are likely to be a vacant plot and another that is currently housing workers' quarters near Methodist Girls' School, said Mr Mak. Both are likely to be used for residential purposes owing to their small size.
On Monday, Mr Lee and Mr Najib announced that a new private company set up by the two countries' sovereign wealth funds - Khazanah Nasional and Temasek Holdings - will take charge of the Tanjong Pagar land and five other sprawling plots.
Mr Mak ventured that the joint company, called M-S Pte Ltd, could well decide to allow private developers to take charge of building up the land once the master plan is completed. 'It's a much neater way to do things. The company decides what to do with the land, and then sells it in an open tender afterwards. This is a cleaner way to extract the highest value from the land with minimum hassle,' he said.
Efforts to contact KTM yesterday for comments were unsuccessful. Singapore's Foreign Affairs Ministry, which is handling all local media queries regarding Malaysia's railway land, was unable to respond to BT's queries by press time.
If the train links Malaysia and Woodland. Will this cause down side presure for all properties in the North (including HDB)?
Thanks,
Richard
If the train links Malaysia and Woodland. Will this cause down side presure for all properties in the North (including HDB)?
Thanks,
Richard
Nope. In fact, raises it. Since the flow will be faster to and from the other side of Singapore.
In modern cities, the development started from the heart of the city... a peak starting from there. We've have done that. However, we are doing something more now. Doing it the reverse way. From Malaysia towards heartlands. Twin Peaks! Those at the center remain at the centre. Those low values will catch up. The peak at city will always be peak.
Disagree with me, just say your piece here or shut up!
Nope. In fact, raises it. Since the flow will be faster to and from the other side of Singapore.
That's actually my concern. If the train can quickly move people from the other side of Singapore, people will choose to stay there at a fraction of the cost of the North.
Just look at HK NT, it was 5 times of the cost of Shen Zhen. Now they are the same price. I am not saying after the train JB will move up to the same price as Woodlands, but the price gap will narrow - JB to go up and North to go down. Of course it will take years. Imagine if you can use your CPF MediSave in JB, would you like to take a few more minutes train ride to save HUGE cost on housing?
Thanks,
Richard
That's actually my concern. If the train can quickly move people from the other side of Singapore, people will choose to stay there at a fraction of the cost of the North.
Just look at HK NT, it was 5 times of the cost of Shen Zhen. Now they are the same price. I am not saying after the train JB will move up to the same price as Woodlands, but the price gap will narrow - JB to go up and North to go down. Of course it will take years. Imagine if you can use your CPF MediSave in JB, would you like to take a few more minutes train ride to save HUGE cost on housing?
Thanks,
Richard
You've made your point and they are good points too. My points remained the same. It's just how you define it as
a) Near to Malaysia
b) Middle zone between Malaysia and City
c) Near to City.
The price trends should be as described in my opinion which is also similar to yours.
BTW, my previous post on SHUT UP is for amk. Ignore it.
JB and SG alot of difference. Don't worry about it too much. The existing KTM railway did not affect the prices too much also. What you can expect to see are Woodlands Prices going up for sure.
devilplate
22-09-10, 10:49
woodlands surely go up??
crime rate will rise anot?:scared-3:
woodlands surely go up??
crime rate will rise anot?:scared-3:
Yes, but in this sense only
From "Depressed State" to "Normal State".
and not from "Normal State" to "Premium State"
Crime rate not expected to go up unless there's high un-employment and a lot of fire sales. People burnt by fire will likely resort to crime.
Please note that the system will always have
1. Depressed Prices - Not so much sought after. Negative attributes
2. Normal Prices - Normal and acceptable attributes
3. Premium Prices - Much sought after.
These attributes might change but the character remains, a condo is a condo and a HDB is a HDB. How to change the attributes? create something to change it all.
Future use of Malayan Railway land parcels to be reviewed under URA Concept Plan (http://www.channelnewsasia.com/stories/singaporelocalnews/view/1082746/1/.html)
By S Ramesh | Posted: 22 September 2010 1901 hrs
SINGAPORE : Future use of the three land parcels of Malayan Railway land in Tanjong Pagar, Kranji and Woodlands and three other parcels in Bukit Timah will be reviewed under the Urban Redevelopment Authority Concept Plan and Master Plan exercises, said the Ministry of National Development (MND).
Replying to queries from Channel NewsAsia, the ministry said the land parcels will be put to optimal use.
However, it added that no further details are available of the planned uses of the land, for the moment.
Under the deal announced by Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak on Monday, Singapore and Malaysia have agreed to swap land parcels in Marina South and Ophir-Rochor for Malayan Railway land in Singapore under the 1990 Points of Agreement.
Another key project being discussed between both countries, according to the Malaysian news agency Bernama, is an undersea tunnel between Malaysia and Singapore.
Malaysian Transport Minister Kong Cho Ha said that the tunnel was being considered to realise the Rapid Transit System between Johor Bahru and Woodlands in Singapore.
Responding to queries, Singapore's Transport Ministry said the implementation details of the Rapid Transit System link between Singapore and Johor Bahru are currently being studied.
The Transport Ministry said it has nothing further to share at this point. - CNA /ls
If we get a tunnel, the water quality there could be improved.
I'll bet that we will have a tunnel.
And by then, all the cargo and dangerous goods should be transported via the Tuas Checkpoint.
Malaysia CIQ is already so far from the old CIQ, planning to cater to the technical challenges of a tunnel? Slowly down and slowly up thus the gradient?
Take a bet..
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