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Thread: Biomedical Sciences Sector Grows Fourfold From 2000

  1. #1
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    Default JLL Sees More Intensive Land Use Near Buona Vista Station

    JLL sees more intensive land use near Buona Vista Station
    Area undergoing development to turn it into commercial and R&D hub

    Kalpana Rashiwala
    Business Times
    Thursday, 10 January 2008

    Lush greenery: 'The whole place will be very vibrant, like university towns in the US and UK,' says DTZ executive director Ong Choon Fah

    Land use around Buona Vista Station is likely to be intensified to maintain the buzz from the development of one north and optimise the area's improved accessibility when the new Circle Line intersects with the existing East-West Line.

    Lush greenery: 'The whole place will be very vibrant, like university towns in the US and UK,' says DTZ executive director Ong Choon Fah

    Making the point in a study on likely changes in Master Plan 2008, Jones Lang LaSalle's head of research (South-east Asia) Chua Yang Liang says: 'Buona Vista is fast becoming the next sub-regional centre for the western region'.

    The area is undergoing intensive development to turn it into 'a commercial and R&D hub' with social and recreational amenities, as envisaged by official planners.

    Property consultants expect more intense land use to be confined largely to the areas close to the existing and adjacent new (Circle Line) MRT stations and to sensitively integrated with lush greenery and colonial-type buildings in places like Rochester Park and Wessex Estate to create a blend of the old and new.

    'In other words, this is not going to be a sterile environment,' says DTZ executive director Ong Choon Fah. 'The whole place will be very vibrant, like university towns in the US and UK. MNCs tend to be attracted to where the talent is, where universities are.'

    JLL identified several sites in the immediate vicinity of the existing and new Buona Vista MRT stations for its study on anticipated plot ratio changes in Master Plan 2008.

    Two vacant state sites flanking the MRT stations, which are currently zoned for commercial use but without plot ratios specified in Master Plan 2003, could see plot ratios of 4.8-5.6 in Master Plan 2008, Dr Chua suggests, comparing them to the URA and MND buildings near Tanjong Pagar MRT Station and Revenue House near Novena MRT Station.

    A reserve site - part of which is now used as a bus interchange - could be rezoned for commercial use integrated with a new bus interchange, JLL suggests in its study.

    This would be akin to similar commercial buildings with bus interchanges near Ang Mo Kio and Toa Payoh MRT stations.

    Two sites now zoned for Business 1 use (clean and light industrial/warehouse use) could have plot ratios raised from 2.5 to 2.8 to maximise their potential, JLL reckons.

    New developments at one-north include Biopolis (the first two phases of which are already up) and Fusionopolis (phase 1 will be ready by the end of this quarter); a mixed use development by United Engineers that will include The Rochester condo, retail podium and business hotel; One North Residences by UOL, Low Keng Huat and Kheng Leong; and right next to the new Circle Line MRT Station, a civic, cultural and retail complex with a 5,000-seat theatre and a mall with mostly food and beverage and entertainment outlets, developed jointly by CapitaLand and Rock Productions. All of these are part of one north, which is positioned as an icon of a knowledge-based economy.

    As well, Buona Vista is close to trendy areas like Holland Village and Rochester Park and several academic institutions including National University of Singapore, Insead, Anglo Chinese Junior College and Anglo Chinese School (Independent), and United World College, plus the emerging high-tech area of Tanglin Halt Industrial Estate.

  2. #2
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    Apr 2008

    Default Biomedical Sciences Sector Grows Fourfold From 2000

    Biomedical sciences sector grows fourfold from 2000
    Agence France-Presse
    Tuesday, 15 April 2008

    Singapore's output in biomedical sciences has increased fourfold and the city-state is positioned to further tap Asia's expanding medical market, government officials said on Tuesday.

    Output in the biomedical sector reached S$24 billion (US$17.7 billion) last year, up from S$6.3 billion in 2000, when the government began to develop the sector in a bid at economic diversification, the Economic Development Board (EDB) said.

    Biomedical sciences - pharmaceuticals, biotechnology, medical technology and healthcare services - last year made up 10.1% of all manufacturing output in Singapore, the EDB said in conjunction with the BioMedical Asia conference of industry players.

    Asia's expanding market opportunities and talent pool are major "pull factors" for investors, and Singapore is a strategic location for companies' expansion into the region, EDB said in a statement.

    "Within the next decade, we will see Asia emerge as a global powerhouse in the biomedical sciences industry. The sheer size of the market, talent and resource base cannot be ignored," Trade and Industry Minister Lim Hng Kiang said in an opening address to the conference.

    While the industry faces numerous short-term challenges such as escalating research and development costs, the demand for effective medicine would continue to rise, Beh Kian Teik, deputy director of the EDB'S biomedical sciences group, told reporters.

    The outlook for biomedical science in Asia is "particularly bright" as companies gear up to access the increasingly affluent and middle-class markets, said Beh.

    EDB said Singapore's biomedical sector employed more than 11,500 people last year, double the number employed in the year 2000.

    "The biomedical sciences sector is a key pillar of the Singapore economy," said Aw Kah Peng, assistant managing director of EDB.

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