Despite the land sales market settling into a slight lull, there are 3 white sites on the Urban Redevelopment Authority’s (URA) reserve list which may be of particular interest to developers.
Kampong Bugis integrated development site could yield 4,000 new homes
A white site is typically a site where a range of uses is allowed. The first is a 9.2 hectares site at Kampong Bugis which may attract developers for its size and novelty and is one of the most keenly-watched sites.
It is located just at the mouth of the Kallang River and could potentially yield 4,000 private homes and 50,000 sq m of retail spaces, offices, serviced apartments, sports and recreational facilities and even community spaces.
The size of the site could, however, be more suited to a consortium of developers or a master developer. Currently, the area only has a few master developer projects such as the Marina Bay Financial Centre and Suntec City.
Analysts expecting the total land cost to exceed $5 billion which could be a considerable hurdle for developers to cross, even the larger industry players. There is however the potential for the creation and long-term development of the area into an urban ecosystem which could be a rare opportunity for a larger developer or a consortium.
2 other white sites in Woodlands and Marina View
The government have hopes for the development of these sites to fit into the masterplan for the redevelopment of certain areas.
For example, another white site on offer is in Marina View, located near the Singapore Chinese Cultural Center and the Singapore Conference Hall.
The land site sites between Tanjong Pagar and the Marina Bay district, which makes it prime land for the future development of residential homes and commercial units.
The other white site which is already available for application is at Woodlands Avenue 2.
As part of the Northern Corridor in the URA Draft Master Plan 2019, the potential for growth is immense. The site is near Woodlands MRT station, Causeway Point Shopping Mall, Republic Polytechnic and Marsiling Industrial Estate.
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