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Thread: Government announces plans for Jurong Lake District

  1. #1
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    Default Government announces plans for Jurong Lake District

    Government announces plans for Jurong Lake District

    By Wong Siew Ying, Channel NewsAsia | Posted: 04 April 2008 1129 hrs


    SINGAPORE: Singapore is planning to have its very own lake district in Jurong, which will be a magnet for business and leisure.

    The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay.

    National Development Minister Mah Bow Tan announced this when he unveiled the government's Draft Master Plan 2008 on Friday. This plan will guide Singapore's land use over the next 10 to 15 years.

    The Urban Redevelopment Authority (URA) said the Jurong Lake District is expected to attract investments worth billions of dollars.

    Under the proposed plan, some 750,000 square metres of land will be set aside at Jurong Gateway for offices, hotels, food and beverage, and entertainment uses.

    It is also expected to add about 2,800 hotel rooms, equivalent to the hotel belt at the Singapore River area. Land to build 1,000 new private homes will be available as well.

    URA said the Jurong Gateway is set to be the biggest commercial hub outside the city centre – nearly 2.5 times the size of the Tampines Regional Centre.

    Lakeside, which is the other component of the Jurong Lake District, has been earmarked to be the next waterfront playground.

    Urban planners said there will be plenty of leisure options there, including nature-themed and edu-tainment attractions.

    But the centrepiece will be a new world-class Science Centre to be located next to the Chinese Garden MRT station.

    Visitors can also look forward to lush greenery and water-based activities like kayaking and dragon boating at Lakeside.


    - CNA/so

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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by mr funny
    Government announces plans for Jurong Lake District

    By Wong Siew Ying, Channel NewsAsia | Posted: 04 April 2008 1129 hrs


    SINGAPORE: Singapore is planning to have its very own lake district in Jurong, which will be a magnet for business and leisure.

    The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay.

    National Development Minister Mah Bow Tan announced this when he unveiled the government's Draft Master Plan 2008 on Friday. This plan will guide Singapore's land use over the next 10 to 15 years.

    The Urban Redevelopment Authority (URA) said the Jurong Lake District is expected to attract investments worth billions of dollars.

    Under the proposed plan, some 750,000 square metres of land will be set aside at Jurong Gateway for offices, hotels, food and beverage, and entertainment uses.

    It is also expected to add about 2,800 hotel rooms, equivalent to the hotel belt at the Singapore River area. Land to build 1,000 new private homes will be available as well.

    URA said the Jurong Gateway is set to be the biggest commercial hub outside the city centre – nearly 2.5 times the size of the Tampines Regional Centre.

    Lakeside, which is the other component of the Jurong Lake District, has been earmarked to be the next waterfront playground.

    Urban planners said there will be plenty of leisure options there, including nature-themed and edu-tainment attractions.

    But the centrepiece will be a new world-class Science Centre to be located next to the Chinese Garden MRT station.

    Visitors can also look forward to lush greenery and water-based activities like kayaking and dragon boating at Lakeside.


    - CNA/so

    a total makeover for Jurong.
    will see property price in this area shooting up soon.
    Now then we realise why Lakeshore can command $900 psf.
    All the condo near to Lakeside & Chinese Garden will have good appreciation.

  3. #3
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by mr funny
    Government announces plans for Jurong Lake District

    By Wong Siew Ying, Channel NewsAsia | Posted: 04 April 2008 1129 hrs


    SINGAPORE: Singapore is planning to have its very own lake district in Jurong, which will be a magnet for business and leisure.

    The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay.

    National Development Minister Mah Bow Tan announced this when he unveiled the government's Draft Master Plan 2008 on Friday. This plan will guide Singapore's land use over the next 10 to 15 years.

    The Urban Redevelopment Authority (URA) said the Jurong Lake District is expected to attract investments worth billions of dollars.

    Under the proposed plan, some 750,000 square metres of land will be set aside at Jurong Gateway for offices, hotels, food and beverage, and entertainment uses.

    It is also expected to add about 2,800 hotel rooms, equivalent to the hotel belt at the Singapore River area. Land to build 1,000 new private homes will be available as well.

    URA said the Jurong Gateway is set to be the biggest commercial hub outside the city centre – nearly 2.5 times the size of the Tampines Regional Centre.

    Lakeside, which is the other component of the Jurong Lake District, has been earmarked to be the next waterfront playground.

    Urban planners said there will be plenty of leisure options there, including nature-themed and edu-tainment attractions.

    But the centrepiece will be a new world-class Science Centre to be located next to the Chinese Garden MRT station.

    Visitors can also look forward to lush greenery and water-based activities like kayaking and dragon boating at Lakeside.


    - CNA/so

    Go go, Mah BT go...
    well done on ERP, such a creative idea, we need these original great idea to make spore stand up from the world.
    come out more great & value add toughts to make spore the best place to work & relax.
    waiting for more projects from you.

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    Default Re: Government announces plans for Jurong Lake District

    Which condos got better better potential? Too late to pick up?

  5. #5
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    Default Re: Government announces plans for Jurong Lake District

    Don't pick up a place just becos of these hypes lah. Other places with such waterpark features include Woodlands, Ponggul, Bedok Reservoir etc. Also imagine the construction that will be taking place during the next 10 years. Even if Jurong becomes the next Tampines, so what rite? Tampines property also so-so only what.

    Quote Originally Posted by Unregistered
    Which condos got better better potential? Too late to pick up?

  6. #6
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    Default Re: Government announces plans for Jurong Lake District

    But would be good for overall property values the west. So if there is a 2nd largest CBD in the west, then property in the western area will probably pick up, which is good news. Northwest (Bukit Timah, Upper Bukit Timah, Hillview, Bt Batok) would hv potential as the air is fresher and a short drive away.

  7. #7
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    But would be good for overall property values the west. So if there is a 2nd largest CBD in the west, then property in the western area will probably pick up, which is good news. Northwest (Bukit Timah, Upper Bukit Timah, Hillview, Bt Batok) would hv potential as the air is fresher and a short drive away.
    Good news for condos at West Coast , Botannia, Infiniti, Carabelle. Its just 3 kms away & going by AYE would only be minutes away.

  8. #8
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    Default Re: Government announces plans for Jurong Lake District

    Huat ah.I stay far far away on the East.Only 25 mins by Porshe to Jurng East,IMM.

  9. #9
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    But would be good for overall property values the west. So if there is a 2nd largest CBD in the west, then property in the western area will probably pick up, which is good news. Northwest (Bukit Timah, Upper Bukit Timah, Hillview, Bt Batok) would hv potential as the air is fresher and a short drive away.


    Haha, all scrambling to get a ride on the BIG plans for Jurong, trying to cling on the coattails of jurong now.For your info, it's Jurong that will be transformed, ok? So rise will be biggest in Jurong. Where are all the sour grapes who always talk the area down? NO FORESIGHT!

  10. #10
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    Don't pick up a place just becos of these hypes lah. Other places with such waterpark features include Woodlands, Ponggul, Bedok Reservoir etc. Also imagine the construction that will be taking place during the next 10 years. Even if Jurong becomes the next Tampines, so what rite? Tampines property also so-so only what.


    Hype?? Hype? Did I hear you correctly? This is the announcement for Master plan 2008!! You call it hype? In denial? anyway, Tampines doesl not have hotels, ok?

  11. #11
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    Talking Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    Don't pick up a place just becos of these hypes lah. Other places with such waterpark features include Woodlands, Ponggul, Bedok Reservoir etc. Also imagine the construction that will be taking place during the next 10 years. Even if Jurong becomes the next Tampines, so what rite? Tampines property also so-so only what.

    These people talk like that,discouraging others but may be the ones
    who will start hunting for houses in Jurong on the quiet.

  12. #12
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    Default Government Announces Plans For Jurong Lake District


    Government announces plans for Jurong Lake District
    Wong SiewYing
    Channel NewsAsia
    Friday, 4 April 2008, 1129 hrs

    .....
    Artist's impression of Lakeside Village, Jurong Lake District


    Night view of Jurong Gateway from Japanese Garden

    Jurong is set to be home to the largest commercial hub outside the city centre.

    The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay.

    National Development Minister Mah Bow Tan announced this when he unveiled part of the government's ‘Draft Master Plan Review 2008’. The blueprint will guide Singapore's land use over the next 10 to 15 years.

    The Urban Redevelopment Authority (URA) said that some 750,000 square metres of land will be set aside at Jurong Gateway for offices, hotels, food and beverage, and entertainment uses.

    Jurong Gateway will be nearly 2.5 times the size of the Tampines Regional Centre and is expected to attract billions of dollars in investment.

    Speaking at the annual corporate plan seminar, National Development Minister Mah Bow Tan said decentralisation will be a key planning strategy. This will help bring jobs and recreational options closer to home.

    Under the proposed plan, 1,000 new private apartments will also be built at Jurong Gateway.

    Mr Mah said: "That is the initial estimate, but some of the sites around there are white sites. If there is more demand, we will certainly be able to reallocate.

    "But all this ultimately will have to depend on the market as well - how the market responds and whether the emphasis of more housing or more office. I think we will have to be guided by the market."

    Some 2,800 hotel rooms will also be added in the new district in anticipation of more visitors.

    And what will get them coming is a slew of nature-themed and edu-tainment attractions, which will spring up at Lakeside. A new world-class Science Centre will also be built next to the Chinese Garden MRT station.

    Visitors can also look forward to lush greenery and water-based activities.

    Urban planners said there is a lot going for Jurong as investors will be able to tap into a population catchment of over one million residents living in nearby housing estates, as well as leverage on some 3,000 companies already operating in the area.

    In addition, the new district will be served by three MRT stations and two major expressways.

    Apart from Jurong, Paya Lebar is also expected to be developed into a sub-regional centre. The URA will release more details in May.

  13. #13
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    Default Re: Government announces plans for Jurong Lake District

    Remember the Ponggul 21 hype also in the masterplan? U dunno the meaning of hype issit? Anyway, it takes 10-15 years, so depends on whether u want to wait so long.

    Quote Originally Posted by Unregistered
    Hype?? Hype? Did I hear you correctly? This is the announcement for Master plan 2008!! You call it hype? In denial? anyway, Tampines doesl not have hotels, ok?

  14. #14
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    Default Re: Government announces plans for Jurong Lake District

    Read the Post Below - Before you take action

    Quote:
    Originally Posted by Unregistered
    Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

    --------------------------------------------------------------------------------

    I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

    He's a Hong Kong based Asia property analyst for a small successful private investment bank.
    He sent me this....(don't shoot me, I'm just the messenger.)

    Quote:
    Well...I would wait at least another 6 months to a year.

    We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

    Rationale was simple and not rocket science.

    #1. There was no demand for housing when the boom started.
    The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

    #2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

    #3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

    #4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

    #4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

    #5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

    #6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

    #7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

    We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
    These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
    Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

    Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
    600+ units launched
    20+ remaining at $2,000 per square foot via the developer.
    100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
    The reason...no rental income.
    That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

    Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

    The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

    The short lived property boom was very much like a pyramid scheme.
    It was all hype and no substance.
    The first guys in are now smoking big cigars.
    The last guys in are now left holding the ashtray.

  15. #15
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    Cool Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    Remember the Ponggul 21 hype also in the masterplan? U dunno the meaning of hype issit? Anyway, it takes 10-15 years, so depends on whether u want to wait so long.


    even if it was stalled due to financial crisis, it's been restored and will be developed according to plan as economy is doing well. Weren't you around when PM Lee announced the latest plan for Punggol? Either you're sleeping , ignorant , in self-denial or simply trying to argue without facts.

  16. #16
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    Read the Post Below - Before you take action

    Quote:
    Originally Posted by Unregistered
    Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

    --------------------------------------------------------------------------------

    I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

    He's a Hong Kong based Asia property analyst for a small successful private investment bank.
    He sent me this....(don't shoot me, I'm just the messenger.)

    Quote:
    Well...I would wait at least another 6 months to a year.

    We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

    Rationale was simple and not rocket science.

    #1. There was no demand for housing when the boom started.
    The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

    #2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

    #3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

    #4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

    #4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

    #5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

    #6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

    #7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

    We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
    These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
    Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

    Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
    600+ units launched
    20+ remaining at $2,000 per square foot via the developer.
    100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
    The reason...no rental income.
    That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

    Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

    The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

    The short lived property boom was very much like a pyramid scheme.
    It was all hype and no substance.
    The first guys in are now smoking big cigars.
    The last guys in are now left holding the ashtray.


    We won't shoot you. But who is your friend? analyst for a SMALL successful private investment firm? Why should we believe him?

  17. #17
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    Default Re: Government announces plans for Jurong Lake District

    The analysis is flawed and statistics wrong. This can just be a make-up story. I feel sorry for those who have been waiting for the past 2 years.

  18. #18
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    Default Re: Government announces plans for Jurong Lake District

    This man got vision. This man got guts. He makes BIG changes. He transforms things. He knows in order for Singapore to compete, he must make quantum changes to the landscape, not just concentrate on town area and the CBD. Very soon we will see Paya Lebar and Woodlands transformed too. North - Woodlands, South - town, East - Tampines, West - Jurong, Central - Paya Lebar. The whole country will be a HUB. Singapore GO! GO!

  19. #19
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    Default Re: Government announces plans for Jurong Lake District

    Why do you have to have to be so rude? I'm just highlighting that it is very far away (10 - 15 years) and there is a chance that 15 years later, it may not fly, just like what happen to Punggol 21. Also, the development will take a v long time to develop, IMHO, it will not translate to an immediate or mid-term return. When making investments, one has to compare against the potential return vis-a-vis other oppoortunities out there. Surely these are valid considerations? Who is the ignorant one here? Please also mind your language.


    Quote Originally Posted by Unregistered
    even if it was stalled due to financial crisis, it's been restored and will be developed according to plan as economy is doing well. Weren't you around when PM Lee announced the latest plan for Punggol? Either you're sleeping , ignorant , in self-denial or simply trying to argue without facts.

  20. #20
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    Default Re: Government announces plans for Jurong Lake District

    A plan is a plan lah. Most analysts think 10-15 years is a bit aggressive, and the actual development (be it commercial, hotel) will likely take a longer time depending on whether there is demand at the end of the day. If u bother to go through the past masterplans, many of the plans are shelved. There are also other announcements for other hubs at Paya Lebar, Woodlands etc. coming up in next few weeks. Don't buy on impulse just because a press release has been hyped up. If you like Jurong area today, go ahead. But my view is that you shouldn't buy a property that you don't like today, hoping that you will like it 20 years later.

    Quote Originally Posted by Unregistered
    Hype?? Hype? Did I hear you correctly? This is the announcement for Master plan 2008!! You call it hype? In denial? anyway, Tampines doesl not have hotels, ok?

  21. #21
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    Default Re: Government announces plans for Jurong Lake District

    Under Mah you can be sure he executes plans and not just talk. Otherwise you won't see ERPs around.

  22. #22
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    Default Re: Government Announces Plans For Jurong Lake District

    Quote Originally Posted by CNA

    Government announces plans for Jurong Lake District
    Wong SiewYing
    Channel NewsAsia
    Friday, 4 April 2008, 1129 hrs

    .....
    Artist's impression of Lakeside Village, Jurong Lake District


    Night view of Jurong Gateway from Japanese Garden

    Jurong is set to be home to the largest commercial hub outside the city centre.

    The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay.

    National Development Minister Mah Bow Tan announced this when he unveiled part of the government's ‘Draft Master Plan Review 2008’. The blueprint will guide Singapore's land use over the next 10 to 15 years.

    The Urban Redevelopment Authority (URA) said that some 750,000 square metres of land will be set aside at Jurong Gateway for offices, hotels, food and beverage, and entertainment uses.

    Jurong Gateway will be nearly 2.5 times the size of the Tampines Regional Centre and is expected to attract billions of dollars in investment.

    Speaking at the annual corporate plan seminar, National Development Minister Mah Bow Tan said decentralisation will be a key planning strategy. This will help bring jobs and recreational options closer to home.

    Under the proposed plan, 1,000 new private apartments will also be built at Jurong Gateway.

    Mr Mah said: "That is the initial estimate, but some of the sites around there are white sites. If there is more demand, we will certainly be able to reallocate.

    "But all this ultimately will have to depend on the market as well - how the market responds and whether the emphasis of more housing or more office. I think we will have to be guided by the market."

    Some 2,800 hotel rooms will also be added in the new district in anticipation of more visitors.

    And what will get them coming is a slew of nature-themed and edu-tainment attractions, which will spring up at Lakeside. A new world-class Science Centre will also be built next to the Chinese Garden MRT station.

    Visitors can also look forward to lush greenery and water-based activities.

    Urban planners said there is a lot going for Jurong as investors will be able to tap into a population catchment of over one million residents living in nearby housing estates, as well as leverage on some 3,000 companies already operating in the area.

    In addition, the new district will be served by three MRT stations and two major expressways.

    Apart from Jurong, Paya Lebar is also expected to be developed into a sub-regional centre. The URA will release more details in May.
    Wow! This Jurong District is beautiful! The plan is just awesome!

  23. #23
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    Why do you have to have to be so rude? I'm just highlighting that it is very far away (10 - 15 years) and there is a chance that 15 years later, it may not fly, just like what happen to Punggol 21. Also, the development will take a v long time to develop, IMHO, it will not translate to an immediate or mid-term return. When making investments, one has to compare against the potential return vis-a-vis other oppoortunities out there. Surely these are valid considerations? Who is the ignorant one here? Please also mind your language.

    Investors will take a long term view. Speculators buy hoping price will go up in a year or less. You decide who will reap the long term benefit. Anyway, for Jurong to be transformed, it will not take that long as the "foundation" is already there. Business parks ...lots of high end jobs in Jurong island..etc it's not as if it has to start from scratch.

    Look at the construction at Jurong East MRT, the building of the BIG BOX , a commercial hub has already started.

  24. #24
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    Wink Re: Government announces plans for Jurong Lake District

    By the way, because of the 3000 over MNCs and SMEs located in Jurong and Tuas, the private property there (esp near MRT) is in fact quite sought after by companies renting for their staff, not exactly a very well known fact, but very true.

    Like Parc Oasis is one of them

  25. #25
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    Default Re: Government announces plans for Jurong Lake District

    Quote Originally Posted by Unregistered
    Remember the Ponggul 21 hype also in the masterplan? U dunno the meaning of hype issit? Anyway, it takes 10-15 years, so depends on whether u want to wait so long.



    extracted from speech by Mr Mah..


    Upcoming Developments

    The Jurong Lake District will become a mini city that is distinctive in character. The District may take 10 to 15 years to be fully developed but we need not wait so long to see the transformation. Many new projects are already in the pipeline. For instance, by the end of this year, Jurong Lake will be enhanced to facilitate water-based activities such as kayaking and dragon-boating. We will also see new facilities such as a golf resort hotel, new hospital, boardwalks and wetlands being developed here.

    A new Big Box development by TT International is currently under construction near the Jurong East MRT Station. This development will be similar to the Warehouse-Retail development cluster at Tampines. When ready by the end of 2009, this Big Box development will add approximately 34,000 sq m of new retail space, similar in size to the Tampines cluster. The Jurong Entertainment Centre will also be redeveloped by next year. It will be home to Singapore’s first Olympic-size ice skating rink.

    The Science Centre will be redeveloped within the next few years. The development timeframe will be announced shortly. During the redevelopment period, the existing facility will continue to operate, ensuring that learning opportunities remain available to its visitors.

    Key infrastructure such as roads and utility services will be put in place progressively over the next few years to support the development in Jurong Lake District.

    Conclusion

    These upcoming developments will significantly transform Jurong East. There is a lot to look forward to, not only for those living there now, but also for those who work there and for those looking for new places to visit. Jurong Lake District will become the next lifestyle and leisure destination in Singapore, a modern and attractive district in its own right. The efforts we are making to remake Jurong complement the other redevelopment and rejuvenation plans we have unveiled, from Marina Bay to Beach Road, from Punggol 21 to Yishun and Dawson HDB estates.

  26. #26
    The Straits Times
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    Default Jurong's Massive Makeover


    Jurong's massive makeover
    Area the size of Marina Bay will be transformed with homes, hotels, shops, eateries and offices linked to MRT via walkways and waterways

    Jessica Cheam
    The Straits Times
    Saturday, 5 April 2008



    Extreme makeovers do not come more dramatic than this.
    In an ambitious plan unveiled yesterday, a large swathe of Jurong will be redeveloped and rebranded the Jurong Lake District.

    The 350ha area affected is similar in size to Marina Bay, and will boast all the elements of a vibrant mini-metropolis.

    That means new high-rises, hotels, apartments, shops, food places and offices as well as no end of water-related recreational pursuits, with everything linked to MRT stations via walkways and waterways.

    Unveiling the plans yesterday, National Development Minister Mah Bow Tan described Jurong as somewhat under-recognised, 'a gem yet to be uncovered and refined'.

    Among Singapore's public housing estates, Jurong has been something of an ugly duckling, its factories giving the place a decidedly industrial-town feel. This is an image it will shed in the next 10 to 15 years as the new plans come to life.

    Reinventing Jurong is a challenge, Mr Mah acknowledged. 'But we want to show that this is not pie in the sky, it's something real,' he said.


  27. #27
    The Straits Times
    Guest

    Default Singapore's Very Own Lake District


    Singapore's very own Lake District
    Jurong is set to shed its industrial image with a stunning makeover

    Jessica Cheam
    The Straits Times
    Saturday, 5 April 2008


    POLISHING A 'GEM': Set around the Chinese Garden and Lakeside MRT stations will be new tourist attractions and parks, complemented by water activities. -- ST Photo: Francis Ong

    Jurong tends to conjure up unflattering images of factories and sleepy suburbia, but the area is slated for a stunning makeover that will transform it into Singapore's only lakeside destination.
    National Development Minister Mah Bow Tan yesterday unveiled a vision for a revamped Jurong, starting with a new name: the Jurong Lake District.

    The ambitious plan, to be implemented over the next 10 to 15 years, involves building new waterways, 1,000 private homes, 2,800 hotel rooms and adding 750,000 sq m of office and retail space.

    The Jurong Lake District, which at 360ha is the size of Marina Bay, will consist of two precincts.

    One is the 70ha Jurong Gateway, which will boast swanky new offices, condos and entertainment features, including an Olympic-size ice-skating rink, all set around Jurong East MRT station.

    The other is Lakeside, which is being targeted as a hang-out for young families.

    It will feature a bold new science centre, tourist attractions and parks complemented by water activities, all set around the Chinese Garden and Lakeside MRT stations.

    Mr Mah told a 500-strong audience at an Urban Redevelopment Authority (URA) seminar yesterday that many Singaporeans saw Jurong as a suburban residential and industrial area 'located far away from the city centre'.

    But he described it as a 'gem', with compelling reasons singling it out for redevelopment. It is near established towns, with a large labour force and a population catchment of more than one million residents.

    It is also a thriving business hub, with more than 3,000 companies - from multinationals to tiny operations - two universities and research centres such as one-north in the vicinity. That made it an ideal business location for cutting-edge technology, said Mr Mah.

    Existing transport links - the PanIsland and Ayer Rajah expressways and two MRT lines - also connect Jurong East to the city quickly.

    Mr Mah pointed to another benefit of the plan: the proximity of jobs to homes in the area, which reduced the need to commute and eased pressure on transport services.

    Jurong's rejuvenation is part of a broader URA decentralisation strategy to balance economic growth, reduce commuting and provide a high quality of life with many leisure options.

    It will announce its plans next month to redevelop Paya Lebar. Both initiatives are part of its 2008 Draft Masterplan Review.

    URA chairman Alan Chan said the ideas for Jurong were the result of consultation with a wide spectrum of public and private industry players.

    Market watchers welcomed the news, saying it would inject new life into Jurong, which has struggled for years to shed its industrial image.

    Colliers International's director of research and consultancy Tay Huey Ying said the plan 'would lift the popularity and value of property in the mid- to long-term'.

    PropNex chief executive Mohamed Ismail predicted that home prices could increase by five to 10 per cent in the next two years.

    Madam Halimah Yacob, an MP for Jurong GRC, said the rejuvenation was a welcome move.

    The Chinese and Japanese gardens, for example, were under-utilised and could do with a makeover, she said.

    Residents are also excited.

    Manager David Lim, 49, who owns a four-room HDB flat at Lakeside, said he hardly stays in Jurong for his weekend recreational activities.

    'But to have all these amenities so close to home will really be a bonus,' he said.

  28. #28
    The Straits Times
    Guest

    Default Jurong To Transform From Industrial Zone To Lake District


    Jurong to transform from industrial zone to Lake District
    Jessica Cheam
    The Straits Times
    Saturday, 5 April 2008


    An impression of Jurong Lake District in the future. -- Photo: URA


    Lakeside, will provide attractions with an education element to attract families. -- Photo: URA

    Mention Jurong now and it conjures images of industrial land and sleepy suburban homes - but within the next decade, this district will get a stunning makeover that will transform it into Singapore's only lakeside destination to live, play and work.
    The blueprint for Jurong - to be re-branded Jurong Lake District - was unveiled by National Development Minister Mah Bow Tan on Friday at the Urban Redevelopment Authority's (URA) annual seminar for industry players.

    The ambitious plan, to be developed over the next 10 to 15 years, involves enlarging waterways, building 1,000 new private homes, 2,800 hotel rooms and adding 500,000 sq m of office space. New tourist attractions, public parks and water activities will also add sparkle to the rejuvenated town.

    Jurong Lake District will consist of two complementary precincts - Jurong Gateway and Lakeside - around the Jurong East MRT Station and Jurong Lake in the west region of Singapore.

    New homes, offices and retail space will sprout around the Jurong East MRT Station, to be known as Jurong Gateway, making it an attractive commercial hub serving the west region, outside the city centre.

    Next to it, a unique leisure destination, Lakeside, will provide attractions with an education element to attract families.

    Located around the Jurong East MRT Station, the new plans for the 70 ha Jurong Gateway is to develop it into a vibrant commercial hub with a good mix of office, retail, residential, hotel, entertainment, food & beverage and other complementary uses.

    It will be the biggest commercial hub outside the city centre. New waterways and pedestrian linkages will provide seamless connections between the two precincts.

    An integrated network of pedestrian walkways between buildings and public facilities will also be created. New landscaped open spaces and park connectors at the street-level and skyrise greenery in buildings will add to the already lush and scenic areas.

    Speaking to a 500-strong audience, Mr Mah said Jurong East is perceived by many Singaporeans as a suburban residential and industrial area 'located far away from the citiy centre'. 'However, Jurong is a gem that has yet to be uncovered and refined,' he said.

    URA's chief executive Mrs Cheong Koon Hean added: 'Jurong Gateway and Lakeside are precious gems which offer exciting opportunities for the development of leisure attractions and the biggest commercial hub outside the city centre.'

    'To realise this vision, the planners have developed strategies that capitalise on the wonderful assets these areas have. These include building upon the strategic location of Jurong Gateway which is well served by road and rail, and in the midst of a large population and customer catchment.

    'The lake and its greenery are also unique features which can be enhanced. We would like to bring about a transformed image for this area. The Jurong Lake District will become a much sought after lakeside destination for business and leisure.'

    The total potential area for development is 360 ha, close to the size of Marina Bay. The existing Chinese and Japanese Gardens will have added new facilities and activities to make them more attractive for both residents and tourists.

    URA said all the attractions around the Jurong Lake will be developed with 'a sensitive approach to the surrounding environment and natural greenery'.


    Site Plan Of Jurong Lake District


    Jurong Lake DIstrict In The Future

    Blueprint for Jurong Lake District unveiled
    Jurong Gateway: Biggest commercial hub outside the city




    Located around the Jurong East MRT Station, the new plans for the 70 ha Jurong Gateway is to develop it into a vibrant commercial hub with a good mix of office, retail, residential, hotel, entertainment, food & beverage and other complementary uses. It will be the biggest commercial hub outside the city centre.

    Jurong Gateway is one of the three regional centres identified under the Concept Plan 1991, as part of a decentralisation strategy to sustain Singapore's growth. While Marina Bay and the city remain as the main commercial centres, new commercial hubs like Jurong Gateway will also be developed outside the city centre to provide more choices of attractive business locations and bring jobs closer to homes. The other two regional centres are Tampines and Woodlands.

    Jurong Gateway offers a highly attractive location outside the Central Business District for company headquarters, business services as well as companies in the science and technology sectors. Companies that set up their offices at Jurong Gateway will be able to:
    - gain ready access to a large labour and customer pool from more than one million residents in the surrounding towns of Clementi, Bukit Batok, Jurong East and Jurong West.

    - enjoy the close proximity to a substantial cluster of multinational and global businesses of more than 3,000 companies around the International Business Park and the Jurong and Tuas Industrial Estates.

    - tap on a large talent pool from the many surrounding tertiary institutions and research hubs like the Nanyang Technological University, National University of Singapore, One-North and the Science Park 11 Jurong Gateway is already a major transport hub.

    The Jurong East MRT station is the interchange station for the East-West and North-South MRT lines. It is well served by three MRT stations and a bus interchange. Jurong Gateway is also well connected to the rest of the island by two major expressways. It is only about 20 minutes away from the city centre by car or train and just 15 minutes to the Second Link.

    More new spaces to come

    With more than 50 ha of vacant land available for development, Jurong Gateway will provide about 750,000 sq m of commercial space, more than two and a half times the size of Tampines Regional Centre today.

    The 750,000 sq m of commercial space consist of:
    - 500,000 sq m of office space and

    - 250,000 sq m of retail, food & beverage and entertainment space.

    About 2,800 hotel rooms will also be introduced at the fringe of Jurong Gateway, next to Lakeside, to meet the increasing demand for hotel rooms and to cater to the new leisure attractions and businesses that will be introduced around Jurong Lake and Jurong Gateway.

    In addition to the commercial space, at least 1,000 new homes will be added around the Jurong East MRT station, providing more opportunities to live and work in the area.

    Seamless connections, more greenery

    Singaporeans and visitors can look forward to seamless connections and more greenery at Jurong Gateway.

    From Jurong East MRT station, pedestrians can walk conveniently and comfortably to most developments and public facilities around the area through an extensive network of walkways. They can also stroll to attractions at Jurong Lake area through a new pedestrian walkway.

    There will be an experience of lush greenery with new landscaped open spaces and park connectors introduced at the street-level. Skyrise and rooftop greenery will also be encouraged on many of the buildings in the area.

    Key buildings will have scenic views of the lake. For example, buildings around the Jurong East MRT station will step down towards the lake, allowing most developments to have panoramic views of the lake.

    Lakeside: New waterfront playground

    Jurong Lake and the area around it, known as Lakeside, is the other area in the Jurong Lake District. Spread over 220 ha of land and 70 ha of water, Lakeside is envisaged to be developed into a major leisure destination for Singaporeans and tourists.

    The attractions at Jurong Lake will be differentiated from others located in Marina Bay, Southern Waterfront and Mandai.

    Singaporeans can look forward to enjoy greater access to the lake with additional green spaces and new attractions around the lake for the whole family.

    Bringing the lake closer

    There will be greater access to the lake from Jurong Gateway. One idea is to create new waterways to bring the experience of the lake closer to the main commercial hub. Another idea is to create a landscaped walkway from Jurong Gateway to the Lakeside.

    New green spaces, better access to the lake

    A new public park will be developed at the western edge of Jurong Lake, next to Lakeside MRT station. The waterfront promenade along Jurong Lake will be enhanced as well, making it easier and more pleasant for residents and visitors to enjoy breathtaking views of the lake.

    New water activities like kayaking and dragon-boating will be introduced in the lake by the end of 2008 as part of Public Utilities Board (PUB)'s Active Beautiful Clean programme. PUB will also be implementing more public amenities such as boardwalks, fishing points, wetlands and water features at selected stretches of the lake by the end of 2009 to allow people to enjoy more of the lake.

    New attractions around the lake

    Land is available for four to five attractions around the lake catering to families with young children. Possible attractions could be those with edutainment theme or nature-based attractions leveraging on the lake, or attractions with hotels, food & beverage and retail uses.

    They will complement the attractions that are already in Jurong, for example, the Jurong Bird Park, Science Centre and Singapore Discovery Centre. Blending in with the garden and lake settings, these new attractions will offer fresh recreational opportunities around the lake.

    The first anchor attraction is the new world class Science Centre. It will be moved next to the Chinese Garden MRT station. The new Science Centre will not only be bigger and more accessible, the new location also provides exciting opportunities to extend the learning experiences beyond the centre to the lake and surrounding green spaces.

    A new lakeside village will be created next to the Jurong Lake. Just 10 minutes walking distance away from Jurong Gateway, the village offers an alternative shopping and dining experience, with food & beverage, retail and entertainment uses and boutique hotels by the lakeside.

    This village will be connected to Jurong Gateway through a network of walkways, making it a natural gathering place for residents, visitors and people working nearby.

  29. #29
    Any complaints please PM me
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    Default Re: Government announces plans for Jurong Lake District

    Jurong Lake District plans timely but timeline may be too short

    By Ng Baoying, Channel NewsAsia | Posted: 04 April 2008 2225 hrs


    SINGAPORE : The government's plans for the Jurong Lake District have been widely well-received by market watchers.

    They noted that it is important to re-brand Jurong away from its industrial estate image to a more vibrant one. However, on the other hand, there are concerns that the government may be moving too fast for the market.

    Some analysts said the proposed 10- to 15-year time frame may be a little tight, especially given the amount of projects in the pipeline, and a dampened global economic climate.

    It is going to take some effort imagining the Jurong area as a bustling entertainment, business and residential area.

    Analysts said that is one of the main challenges the government will face.

    Grace Ng, Deputy Managing Director, Agency and Business Services, Colliers International, said, "Jurong has been known as an industrial area, so it has been less successful in attracting commercial and residential activities in the area compared to newer towns like Tampines.

    "We need to erase the industrial image of Jurong and convince Singaporeans to make it their workplace and place of residence. As for developers, we need to convince developers to actively participate in the tender of the sites."

    Ku Swee Yong, Director, Marketing and Business Development, Savills (Singapore), said, "The government authorities, Singapore Tourism Board, Urban Redevelopment Authority, Jurong Town, will still have to put in a little bit more effort to shake off the long-held views that Jurong has been a industrial area."

    However, analysts said that once this hurdle is cleared, the potential is vast.

    They pointed out that some investors have already starting sniffing out opportunities in the area.

    Mr Ku said, "We are very positive about it. (We've) been saying for the past two years that the West side of Singapore has been neglected by the investment community. We see very strong growth in household income and wealth, given the high growth in electronics, pharmaceutical, oil and gas industries, and there are households there that are actually doing a lot better than what may appear on the surface.

    "We have been seeing quite a strong take up from home users, plus some investors who are buying units to rent out to academics, engineers and expatriates."

    Vacancy levels for office space in Jurong has been tight, so the promise of more commercial space in the area will be welcome.

    But even with so much going for it, many said the government might need to temper their growth plans for the area, and work on building up even more demand to match its planned dramatic increase in capacity.

    Over the past few months, the government has delayed several public projects to help rein in rising construction costs.

    And property watchers said the plans for Jurong Lake could further stretch resources.

    Mr Ku said, "I think that it is rather ambitious to try to put all this work together to build a 5 million square foot of office space, another 2 million of retail and F&B space. All this in next 10-15 years may be a little fast. But (if it is) 15, 20 or even just a little beyond 20 years, I'm sure the market can absorb it."

    Ms Ng said, "It's scheduled to have 2,800 hotel rooms which seems like quite a high number given that Jurong has not been established as a tourist area."

    But from the 'big picture' point of view, analysts agreed that these plans will put a sheen on the property market in Jurong.

    Prices can be expected to start inching upwards over the next two to five years when developers start actively tendering for the sites. - CNA/ms

  30. #30
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    Default Re: Government announces plans for Jurong Lake District

    Oh any comments on this observation from the expats forum? Seems a knowledgeable chap. Thanks buddy for educating us. I will delay my buying.


    Quote Originally Posted by Unregistered
    I Re: Apartment sales slowing?
    « Reply #389 on: 18 March 2008, 23:13:57 PM » Quote

    --------------------------------------------------------------------------------
    Quote from: Kubes.SG on 18 March 2008, 23:04:49 PM

    The reason I am looking for some rational data-based economic basis for why values will boom again soon in Singapore is because I get nothing but the following soft baseless reasons, that don't link to any meaningful data:

    IRs are coming. Rich people will discover Singapore
    Singapore Flyer/Eye
    F1
    Youth Olympics
    Singapore Hub for everything
    Inflation is high and increasing in Singapore
    SGD is rising against USD
    India and China booming ecomony
    Singapore has limited land
    Population will increase to 6.5mln
    Financial/Media/Health Hub

    My points are the following:

    Singapore prime property is grossly overvalued, by historical and global standards - (don't look at the 1996 peak as the benchmark, look at the average of the last 20 years)

    Singapore's property cycle is 1-2 years of boom, followed by 1-2 years of decline then 2-5 years of stagnation

    About 30,000 new prime properties are booked to be completed by 2010, exceeding demand

    Possibly 50% of those were purchased by investors/speculators, many though DPS

    DPS entirely skewed the market by allowing speculators/developers/realtors to rapidly pump-up prices with very small financial commitment (2%-20%)

    Many of the speculators never planned to own the apartments they bought, but to flip them quickly

    With negagitve equity and being highly leverage speculators will be under massive stress. Some will walk, some will sell. Further reducing market prices and sentiment.

    Singapore's leadership are publicly bearish on the prime property market declaring prices will decline

    Sales of prime properties have collapsed over the in Jan and Feb to the lowest levels in 5 years (BT and ST this week)

    Market sentiment is at panic levels. External negative economic pressures and credit crunch is underway now in all developed economies - strong and weak. These will impact Singapore too.

    Asia has not "de-coupled" its economies from the US or WE. Singapore's exports indirectly still go mainly to the US. Consumption is till very low in Chinda. With recession in the US the reduced demand will still hit Singapre. Chinda owe Singapore nothing.

    Singapore's 2007Q4 GDP shrank 4.8% I fully expect that the SG.gov is currently pumping the local economy hard to avoid a technical recession.

    Singapore's productivity rates in 2007 declined by 0.9% - the greatest decline on record

    Latest population target is 5.5mln by 2040, or about 10,000 HH per year.

    Given current mix that means about 2,000 prime properties required per year

    Jobs growth is good, but it is largely at the lowest levels. In coming workers will not be able to live in prime property. Many incoming professionals will not be able to afford prime property rentals without correction

    Adam Smith's invisible hand of capitalism will play an influencing role in equalizing the balance




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