Originally Posted by
Unregistered
SINGAPORE: Jurong and Paya Lebar have been designated as new business hubs under the upcoming Master Plan 2008 review.
Giving a preview of the plans in a Channel NewsAsia interview, National Development Minister Mah Bow Tan said the move would provide space for Singapore's continued growth as a global business centre and would offer an alternative to the overcrowded Central Business District (CBD) area.
The Master Plan guides Singapore's medium-term land use and is reviewed every five years.
To grow Jurong and Paya Lebar into new hubs for businesses, the government plans to release sites for new offices, shops, homes and entertainment outlets in these areas.
According to the minister, the lower costs will be a key pull factor.
He said: "I think the best incentive is that it will offer cheaper office space – cheaper than the CBD. It will offer proximity to workers who live in some of the nearby residences. And of course, it's going to be a very nice leisure and recreational area as well. In Jurong, for example, we can redevelop the areas around the Jurong Lake, which can provide very nice retail and F&B outlets on the waterfront."
The specific locations of the sites have yet to be determined, but they will be centred around the existing MRT stations.
For Jurong, these MRT stations would likely be the Lakeside, Boon Lay or Jurong East stations, while the Paya Lebar station is the likely candidate in the east.
Mr Mah added that he does not see the need for land acquisition by the government as there are plenty of empty land sites in these areas.
The new hubs are seen as part of the long-term answer to the current office space crunch.
Mr Mah said: "It will take us quite a number of years to build up Jurong and Paya Lebar. I remember we took at least ten years to fully develop Tampines as a regional centre. So I think, depending on the reaction of the market, it may take just as long. This is really something to help us sustain our growth in the longer term."
Other more immediate options to ease the space crunch in CBD include sale of new sites and short-term transitional office sites.
As for speculation about drastic increases in plot ratios for land around the island to cope with an anticipated rise in population, the minister said there is no need for such a move at this point.
He explained that the figure of 6.5 million is actually a very long-term guide, spanning up to 50 years.
Mr Mah said: "If that is the case, then there's really no urgent need for us to drastically change all our plot ratios or up the intensity of all the various parcels of land that we have.
"We've been doing this gradually over many years. There has been a review of various plot ratios in every Master Plan and we've gradually and steadily reviewed the intensity and use of each of these plots. It's not something that we need to do across the board at this point in time, based on the reviews that we have done."
The Master Plan will also include new details of living options, facilities for leisure and ways to encourage rootedness in Singapore.
The new Master Plan will be put up for public feedback by the middle of next year.