Master Plan 2014 by URA
Key Growth Area: D14 (Geylang/ Paya Lebar/ Sims)
Under the Master Plan 2014, the Urban Redevelopment Authority (URA) has announced plans to rezone parts of D14 – specifically parts of Geylang as well as Paya Lebar Central. The government hopes to re-invent Lorongs 4-22 of Geylang whilst transforming Paya Lebar Central into an integrated commercial hub. We will be looking into these 2 areas in further detail over the next few paragraphs.
What you need to know about Geylang:
- As of the current Master Plan 2014, URA will no longer approve any more new residential projects between Lorong 4 to Lorong 22.
- Residential projects that were approved prior to URA’s decision will still be able to carry on as planned. Maximum plot ratio remains at 2.8 (ratio of max gross floor area to land area) This means that currently, Sims Urban Oasis and TRE Residences are only 2 private residential properties going on sale in the year of 2015, amongst other smaller projects(leftover sales) in the area.
- Government intends to rebalance and minimize potential friction between residential uses and commercial/institutional uses.
- In the future, land values are expected to rise after rezoning due to its strategic location of Geylang – being minutes’ drive away from the CBD area.
- For older residential developments (Lorong 23 onwards), property developers/ private investors will take an interest in them for redevelopment through collective sale process.
What you need to know about Paya Lebar:
- Paya Lebar Central is set to become the next commercial hub located along the city fringe. Backed by strong population catchments in nearby Geylang Serai and Sims, it will be a bustling and vibrant hub in time to come.
- In terms of connectivity to the city, Paya Lebar is connected via major expressways (PIE / ECP) as well as the MRT (East-West Line / Circle Line).
- About 12 hectares of land will be allocated to commercial needs which equates to 500,000 square metres of commercial space.
- Decentralising is part of the government’s efforts to bring jobs closer to home as they are working towards a better work-life balance.
- A newly reconstructed stretch of Geylang River is set to enhance the landscape of Paya Lebar – creating a River Walk similar to that of Clarke Quay / Boat Quay
- Already, the plans unveiled for Paya Lebar Central has spurred interest in property developers / investors. Experts predict that bids will potentially go above S$1 billion dollars for the sale site released.
- Expect covered / underground walkways for better linkage throughout the hub.
- Community space such as the New Civic Centre (i.e. Wisma Geylang Serai) will also be set aside for residents.
By 2030, Paya Lebar Airbase will relocate – making way for higher building ratios in the area. This will result in spillover effects in the whole of District 14 as well as surrounding districts. While this may take another 10 years to materialise, prospective buyers can tap on this opportunity and purchase New Property Launches (residential or commercial units) due to first-mover’s advantage. Furthermore, prices of such properties are relatively affordable as developers have taken into account the government’s cooling measures and payable stamp duties.
Surrounding in this district, the New Launch Condo are enjoying the near future of Capital Upside Potential and they are:
- Kallang Riverside Condo
- Guillemard Suites
- Rezi 3Two
- Botanique at Bartley
- Ascent @ 456
- Hexacube Singapore
- 28 RC Suites
- The Citron Residences
- Forte Suites
- ARC 380
- Adana @ Thomson
- Hilbre 28 @ Hillside Drive
With such plenty of New Condo Launch above, you will be spoilt for choice for different price range, tenure, property type and all these will be a good buy for now and taking not too much of the time to see the appreciation in value.