Singapore’s Master Plan is renowned for its role in shaping the development of every plot of land, ensuring that urban growth unfolds in a systematic and forward-thinking manner.
However, its significance extends beyond planning. The changes outlined in the Master Plan often bring promising opportunities for homeowners, both current and future. By optimizing Singapore’s limited land resources, the Master Plan addresses foreseeable urban challenges while meeting the evolving land-use needs of future generations.
Interestingly, while not its primary intent, the Master Plan has also been linked to the upward trajectory of private property prices, particularly in designated growth areas.
Consider the Jurong Lake District, poised to become Singapore’s second Central Business District (CBD) and much more.
In addition to a commercial hub at Jurong Gateway, the district will feature a vibrant leisure and recreational precinct at Lakeside, making it the largest regional centre outside the CBD and a key driver of growth in the west.
These Master Plan announcements often have a positive impact on the value of private properties in surrounding areas, driving growth over the near to mid-term.
For instance, developments around Jurong, such as The Mayfair, Parc Oasis, Ivory Heights, and J Gateway, have all benefitted significantly from the Master Plan. Over the past two decades, these properties experienced PSF price increases ranging from $440 to an impressive $750.
Given this trend, buyers exploring upcoming new launches would be wise to consider the urban plans and private residential opportunities in their target areas.
In the West, upcoming launches include Sora, Lumina Grand, The Hillshore, The Hill @ One North, as well as a yet-to-be-named development at Clementi Avenue 1.
In the North, homebuyers can look forward to exciting developments like the Punggol Digital District, a cutting-edge smart business park, and the Woodlands Regional Centre, which will offer a variety of office and retail spaces.
These Master Plan projects are strategically located near several upcoming launches, including Lentoria, Lentor Mansion, and two residential developments at GLS sites along Champions Way and Lentor Central.
In the East, urban rejuvenation is taking shape with the transformation of Paya Lebar Air Base into a vibrant new town, alongside the expansion of Changi Aviation Park to support emerging aviation-related sectors and businesses.
These exciting developments will be complemented by new launches, including Kassia, Ardor Residence, two projects at GLS sites along Tampines Avenue 11 and Jalan Tembusu, as well as another at the former Bagnall Court.
In the Central and Southern regions, the Master Plan promises even more transformation, enhancing the already vibrant downtown area and the Greater Southern Waterfront—an expansive residential and business district twice the size of Punggol.
Upcoming launches in these regions include private residential developments at the former Central Mall, GLS sites at Marina Gardens Lane, Keppel Bay Plot 6, Marina View Residences, Skywaters Residences, Newport Residences, The Residences at W on Sentosa Cove, The Hillshore, and The Hill @ One North.
— Source: URA, MTI, SDC, ERA Research and Market Intelligence —