$8.5b to be spent to help remake S'pore

[mr funny]

http://www.businesstimes.com.sg/sub/...17851,00.html?

Published February 7, 2009

Yesterday In Parliament

$8.5b to be spent to help remake S'pore

Older estates will be rejuvenated through the injection of new flats and residents


THE government will spend $8.5 billion to revamp Singapore's HDB estates and develop the commercial nodes of Marina Bay, Jurong East, Paya Lebar and Kallang.


FILLIP IN THE WORKS
The government will pump in another $1 billion for infrastructure works at Marina Bay over the next 10-15 years.

Some $2.9 billion will be spent on essential infrastructure to pave the way for future development at Jurong East, Paya Lebar and Kallang - three regional hubs earmarked for development in the Urban Redevelopment Authority's 2008 Master Plan.

The government will pump in another $1 billion for infrastructure works at Marina Bay over the next 10-15 years.

As for HDB estates, National Development Minister Mah Bow Tan told Parliament: 'We have spent $2.4 billion over the past five years on various upgrading programmes and we will almost double it, with another $4.6 billion over the next five years.'

Various government agencies will participate in the development of the three regional hubs.

At Jurong, the Land Transport Authority will upgrade Jurong East MRT station and redevelop the bus interchange, while JTC will expand the International Business Park and the Public Utilities Board will transform Jurong Lake for more leisure activities. The Health Ministry will build Jurong General Hospital.

At Kallang Riverside, new infrastructure will open up the area for future waterfront developments.

And at Paya Lebar Central, the Circle Line MRT and Paya Lebar MRT interchange will be operational in 2010, and the new Geylang Serai Market will be completed this year.

But the bigger price tag will be for remaking HDB estates. Rejuvenation works for the pilot town, Yishun, have started. Older estates will be rejuvenated through the injection of new flats and residents.

Mr Mah said: 'Notwithstanding the current recession, we are taking the opportunity to remake our city. In 5-10 years, we will see a new Singapore. We will have a new city, as plans to transform and rejuvenate our downtown and our heartlands take shape.'

Senior Minister of State for National Development Grace Fu said that the government would remain focused on its long-term goal of upgrading the construction sector.

Responding to questions about measures to help the industry during the downturn, she reiterated that the government's previous announcement that it would award an additional $1.3 billion of small and medium-size public sector contracts - each valued at $50 million or less - this year. Added to small and medium-size projects already planned, this will lift total public sector demand for such projects to $4.8 billion.

'This is a sizeable 67 per cent increase over the average annual value of small and medium-size government projects awarded in the past five years,' Ms Fu said.

Works to be brought forward include smaller-scale projects valued at up to $15 million, such as upgrading community clubs, roads, parks and park connectors. Projects of up to $50 million include building new rental flats and indoor sports halls in schools, upgrading hospitals and improving public housing lifts.

The government is also reducing the security deposits for public construction projects from the usual 5 per cent. In general, the deposit will be 1.25 per cent for projects of up to $15 million and 2.5 per cent for projects of higher value.

Mr Mah and Ms Fu said that the government would monitor the property market and the construction industry to see if further action is needed.

[mr funny]

http://www.straitstimes.com/Singapor...sunwMethod=GET

Feb 7, 2009

budget debate:

No let-up in remaking S'pore into top location

By Joyce Teo


NATIONAL Development Minister Mah Bow Tan said there will be no let-up in public building works even as the economic climate here worsens.

The Government will invest in public housing, new parks and plans, sustainable development and even accelerate the Lift Upgrading Programme for Housing Board flats, he said.

'Nothwithstanding the current economic recession, we are taking the opportunity to remake our city,' said Mr Mah during the Budget debate on estimates for his ministry yesterday.

'In five to 10 years' time we will see a new Singapore. We will have a new city as plans to transform and rejuvenate our downtown and our heartland take shape.'

'We are striving to be a global city of distinction - a top destination for global businesses to base their operations, a choice location for global talent to work in, but above all, a city that all Singaporeans can be proud to call home.'

He was responding to questions from MPs.

One of them, Mr Liang Eng Hwa (Holland-Bukit Timah GRC), asked if development plans for Jurong Lake District and Paya Lebar commercial district would be put on hold because of the economic downturn. He also asked if there were plans to help rescue the severe slump in the property market.

The market has corrected with the current economic downturn, said Mr Mah.

'The Government cannot artificially prop up prices, in the same way that we cannot suppress prices in a bull market.'

It has already acted swiftly to help, he said. For instance, the Government has introduced new measures in the Budget to help ease the cashflow of developers.

Mr Mah said his ministry will continue to monitor the property market closely and implement more measures if necessary to lend stability to the market.

'While we tackle the current challenges, we must not forget that our economic fundamentals remain strong, and we should continue to position Singapore so as to seize new opportunities when the upturn comes.'

Yesterday, Mr Charles Chong (Pasir Ris-Punggol) also asked if there would be a slowdown in the Lift Upgrading Programme because of the downturn.

Senior Minister of State (National Development) Grace Fu responded: 'On the contrary we intend to step it up.'

Yesterday, Mr Mah also highlighted the development plans in growth areas and its sustainable development thrust. Among them:

Punggol 21-plus: This, said Mr Mah, is not just a rehash of the Punggol 21 plan. 'There are some very new aspects of the Punggol 21-plus plan which was never envisaged in the original Punggol 21.'

The construction of the first 2.4km of the Punggol Waterway costing $145 million is one of them. The contract has just been awarded and the waterway is slated for completion by the end of next year.

The first sale site for a mixed commercial and residential development at the town centre will be launched by 2011. When the two developments are completed, Punggol will enjoy a 'first class' waterfront environment, said Mr Mah.

Marina Bay: This precinct will take shape as a new premier business location by the end of the year.

The Government has invested close to $5.7 billion in the infrastructure there and will continue to pump in another $1 billion of infrastructural works for the next 10 to 15 years.

Many key developments such as Gardens by the Bay, Marina Bay Financial Centre and the integrated resort are being built now. When completed in two to three years' time, Marina Bay will become the new downtown.

New hubs in Jurong East, Paya Lebar and Kallang: The Government is pressing on with the infrastructure development for these hubs and will invest a total of $2.9 billion on essential works in the three growth areas.

Lift Upgrading Programme (LUP): The programme is on track, with the Government having selected 80 per cent of eligible blocks for lift upgrading.

In the 2008 fiscal year, the Government selected 60 precincts for LUP, 10 more than the originally intended 50. These will be announced soon.

It plans to select more for the 2009 fiscal year and to bring forward this selection by about six months.

Over the next few years, HDB will select the remaining 1,000 eligible blocks so that these can be completed by 2014.

There are still about 1,500 blocks to be selected under the LUP. 'This is a large number and we have to prioritise, but we are on track,' said Ms Fu.

HDB heartland: The Government has spent $2.4 billion over the last five years on the various upgrading programmes and will almost double it with another $4.6 billion over the next five years.

Sustainable development: Recommendations from the Inter-ministerial Committee on Sustainable Development - set up last year to chart strategies - will be released next month. A sum of $1 billion will be spent over five years to implement the recommendations.

Dr Muhammad Faishal Ibrahim (Marine Parade GRC) had asked about the work of the committee. Mr Mah said the committee's recommendations would centre on four key areas:

# Measures to improve Singapore's resource efficiency. 'In particular, we will put in special efforts to promote energy-efficient buildings,' said Mr Mah.

# Measures to enhance the liveability of Singapore. 'More efforts will be made to promote clean transport and enhance connectivity for cyclists and pedestrians.'

# New resources to build up Singapore as a hub for sustainable development technologies and solutions.

# New partnerships with people and private sectors to promote lifestyle changes to support a higher level of sustainability.