Many mega developments in the East Region have been planned by the URA. This is expected to underpin it as an important economic zone amid the government's plan to further decentralise some of its major industries away from the city. Unsurprisingly, new developments such as the Parc Central Residences in Tampines and Pasir Ris 8 have sold very well as astute investors seized on the first-mover advantage to ride on the region's growth potential.
Tampines is already known to be one of Singapore's major regional centres, but its importance is set to grow further due to its strategic location between the Paya Lebar Airbase and Changi Region, which have been earmarked for major transformations.
Currently, Tampines is a self-sufficient estate with many essential amenities such as shopping malls, schools, recreation facilities and more. It is also a major commercial hub and has been dubbed the CBD of the East. At Tampines Central, many established international banks such as OCBC, DBS, UOB, Citibank and Standard Chartered can be found. It is also home to major corporations such as AIA, NTUC Income and the CPF Board. All these are clustered around the Tampines MRT station and bus interchange.
Nearby is Pasir Ris, which is just one MRT station away from Tampines. Pasir Ris is another well-established housing estate in the East. Endowed with lush greenery, nature parks, beach and a variety of recreational facilities, it has become one of the most popular place to live.
The East is home to some major manufacturing and business hubs. These include the Pasir Ris Wafer Fabrication Park, Loyang Industrial Estate and Changi Business Park. It is also close the the Changi Airport. These places are well connected by the excellent MRT network to the surrounding housing estates.
Unsurprisingly properties in Tampines and Pasir Ris have been well sought-after as choice locations to live, work and play. With the major transformation taking place together with the increased in employment opportunities, demand for properties are expected to rise.
Paya Lebar Airbase - A Mega Development In The East Region
One of the mega-developments in the East Region is the redevelopment of the Paya Lebar Airbase. Under the URA Master Plan, the land currently occupied mostly by aeronautics and related industries will be relocated from 2030 onward. Five times the size of Toa Payoh Town, the area will be progressively transformed into a highly liveable and sustainable new town with a distinct identity anchored to its aviation heritage.
These will include meaningful parks and play spaces for people to enjoy. A new commercial hub will also be developed together with many lifestyle amenities. This will greatly benefit future residents in the area and those surrounding it, such as Tampines and Pasir Ris, which are a short drive away.
In fact, the upcoming Cross Island Line (CRL) will bring these housing estates closer together. Phase 1 of this new line will stretch from Changi Aviation Park to Bright Hill while passing through Paya Lebar Airbase. Hence, it is highly likely a new MRT station will be built there in the future. Phase 1 of the Cross Island Line (CRL) is slated to be completed by 2029 and the Paya Lebar station is just 2 and 3 stops from Pasir Ris and Tampines respectively.
Mega Developments In Changi Region
Changi is synonymous with the Changi International Airport, which is ranked as one of the top airports in the world. However, under the URA Master Plan for the Changi Region, several mega developments are set to take place. This is expected to boost property demand in the East Region. The developments in the Changi Master Plan include the following:
Changi Aviation Park
This will cater to new aviation-related sectors and businesses that rely on air connectivity to the world. The existing air cargo cluster will be expanded together with the development of Changi East Industrial Zone.
The Changi City will leverage on the Singapore University of Technology and Design (SUTD) and Changi Business Park (CBP). The plan is to create an innovative ecosystem with a live-in community that would attract businesses and institutions involved with freight transportation/aviation-related research and development, including artificial intelligence and robotics technology.
Being at the doorstep of the future Terminal 5, which will be larger than Terminal 1, 2 and 3 combined, new offices, smart work centres, flexible conference rooms and halls, hotels and serviced apartments are planned. All these will be set amidst lushly landscaped public spaces within the new Changi East Urban District.
A new waterfront district is also planned in the longer term. It will offer exciting new recreational and tourism possibilities and seamless inter-modal “fly-ferry” linkages between Changi Terminal 5 and the Tanah Merah Ferry Terminal.
Development of Tampines North
Tampines North is an extension of the current Tampines estate and one-fifth of its size. Currently, it is home to the Tampines Retail Park where three megastores are located - Giant Hypermarket, IKEA and Courts. The area is under study for the construction of an integrated transport hub. Integrated Transport Hubs are fully air-conditioned bus interchanges that seamlessly link to the MRT network and shopping malls/commercial buildings.
Tampines North is expected to provide about 21,000 new private and public housing when fully developed. Commercial and industrial developments are also planned for the area, which will bring new employment opportunities.
To facilitate its development, the new Cross Island Line will run through the new estate to form a major rail network with two other MRT lines - the East-West and Downtown Lines. Phase One of the Cross Island Line is set to be built by 2029. When completed, it will provide great accessibility and shorten commuting times for residents living in the East Region when travelling to other parts of Singapore. In fact, it will just be four stops from the Changi Aviation Park, a major commercial/industrial hub to be developed.
Tampines North will be linked to nature parks such as the Tampines Eco Green and Sun Plaza Park via park connectors. This will enable residents to stroll or cycle around the estate via a network of walkways and cycling paths. This is part of the government's plan to develop a car-lite city. Amenities such as a community club, polyclinic, nursing home and schools will also be developed.
Development of Tampines South
There are also plans to develop Tampines South in the next 10-15 years. But compared to Tampines North, it will be on a smaller scale where 8,000 homes are expected to be developed. Community facilities and green spaces will also be built to serve future residents. As it is close to the Tampines West MRT station, it will provide convenient accessibility when travelling within and outside the East Region.
With Tampines and Pasir Ris sandwiched between the Paya Lebar Airbase and Changi Region, they will benefit from these two mega developments in terms of increased employment opportunities. This is expected to boost property demand and hence, new developments like Parc Central Residences and Pasir Ris 8 will offer astute property investors the opportunity to take advantage of the exciting transformation currently taking place.
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