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Subscribe to this list via RSS Blog posts tagged in Upcoming Development

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The team led by KCAP Architects&Planners (KCAP) has been appointed as consultant to develop the detailed master plan for the Jurong Lake District, revealed the Urban Redevelopment Authority (URA) on Wednesday (8 February).

This comes after its proposal received the highest score among the five teams shortlisted for stage two of the Jurong Lake District Request for Proposal (RFP) exercise.

The URA noted that the team’s proposal best met the expectations and requirements of the RFP as it featured a “sensitive focus on water and greenery, which incorporates new waterways and a series of green spaces and connections that weave through the entire district to create a strong, distinctive identity”.

“Evaluation panel members were similarly impressed with the proposed urban typology that integrates with the green setting beside Jurong Lake, which at the same time places emphasis on creating active, walkable streets and interactive public spaces,” it said.

Over the next few months, the team will work with the URA and relevant agencies to refine the master plan and draw up detailed proposals for the Jurong Lake District, with the proposals set to be exhibited in mid-2017.

During the exhibition period, the public are encouraged to give their feedback on the detailed proposal. Thereafter, the URA will work with the consultant to review and incorporate the feedback where appropriate, before finalising the master plan.

Credits: Propertyguru

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Posted by on in New Launches

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Most of the residents at Rochor Centre have relocated, while the few remaining ones have until the end of this week to move out, according to the Housing and Development Board (HDB) in a report by TODAYonline.

The iconic estate, known for its multi-coloured residential blocks, will be demolished to make way for the 21.5km long North-South Corridor, an expressway which will link the city centre with towns in northern Singapore.

On Thursday (29 December), the HDB said nearly all the 567 households there have obtained the keys to their replacement flats, with 504 families opting to resettle at Kallang Trivista in Upper Boon Keng Road.

Although most of the residents have returned the keys to their flats in Rochor Centre, some have asked the authorities to extend the deadline, as they are not able to vacate their premises by year-end.

Among them is housewife Shanel Yep, 38, who intends to relocate to a flat in Bendeemer before the Chinese New Year.

“We have considered their individual circumstances and will continue to work with them to vacate the units as soon as possible. For security reasons, we have advised the remaining residents to move out soon,” said an HDB spokesman.

Once all residents have moved out, the property will be handed over to the Land Transport Authority (LTA).

 

Credits: Propertyguru

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Prices to drop by 12-15%.

According to PropNex, over the next three years, 80,000 new BTO flats will be completed and keys handed over to buyers. HDB will also launch a total of 24,300 BTO flats in 2014 – this is just slightly lower than last year's supply of 25,100 units.

And according to Minister Khaw, 18,000 households in the next 3 years will be moving to a BTO flat, thus they are required to sell off their existing flat within the 6 months. With the forthcoming supply of HDB resale units in the market, it is expected to further create a downward pressure for HDB resale prices. In the next 2 years, we are expecting HDB resale prices may well drop by 12 to 15 percent," Mr Mohamed Ismail, CEO of PropNex Realty.

Resale prices for HDB flats continued their decline in the first quarter of 2014, a trend which is unlikely to reverse even by the end of this year — this is the result of a convergence of measures imposed last year to cool the market and a continued supply of new flats. HDB today indicated that the resale price index in 1Q14 was 198.5, which represented a 1.6 percent contraction from the previous quarter.

This continued decline comes after a 6.6 percent price growth in 2012 and a double-digit growth in 2011. It also marked three consecutive quarters of price decreases from 2013 (the index dipped 0.9 percent in 3Q13 and 1.5 percent in 4Q13).

Mr Ismail said, "The potent combination of the measures has been effective at slowing down the price growth of HDB resale prices. I am not surprised that the downward trend to continue with prices dropping by between 6 to 8 percent in 2014 and beyond," commented Mr Ismail.

"The recent HDB's change to the valuation procedure will also create a cautious approach from buyers, and I foresee them being more careful when giving an offer for a particular flat. This will further increase a downward pressure on resale prices in the coming quarters."

Credits: Singapore Business Review

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