3 new MRT stations, part of the sixth phase of the Circle Line to be completed by 2025, have just been announced last week:
- Prince Edward
These areas are yet to be heavily populated, thus the breadth and depth for growth could potentially attract residential developers and commercial and retail businesses alike. These 3 new stations will link the rest of the island to the new Greater Southern Waterfront district under URA’s redevelopment and rejuvenation Masterplan which will take the place of the Keppel docklands.
Currently, residential areas in these districts are few and far in between. The nearest HDB area might be The Pinnacle @ Duxton and some HDB blocks in the Cantonment and Spottiswoode Park estates. The nearby Tanjong Pagar and Chinatown districts have already seen a positive revival with new apartment buildings and retail shops injecting some life into the previously sleepy region.
Some of the properties near the Prince Edward MRT station which will also benefit from the redevelopment of these districts include Spottiswoode 18, Spottiswoode Residences, The Beacon, 76 SHenton and Lumiere. Nearer the Keppel station, there are private apartment blocks such as The [email protected] Faber and Mount Faber Lodge.
Developers and industry players are hoping this redevelopment project will revive property interest this region as sales have been a little quiet last year due to the property cooling measures.