One-North Property Hotspot In A High-Tech And Research Hub

One-North Review: A Singapore Property Hotspot, Education Hub, Food Haven

This is a review of One-North located in the southern region of Singapore. Emerging as an important and significant high-tech research hub, it is expected to see rising demand for housing, making it a property hotspot in Singapore to look out for.

Together with Singapore Science Park and Dover Knowledge District, they form the Greater One-North.

Besides being conveniently and strategically located at the fringe of the city, its state-of-the-art infrastructure and dynamic ecosystem make it an attractive destination for businesses, talent, and innovation.

One-North is made up of several districts which include Biopolis, Fusionopolis, Mediapolis, and Launchpad. Together, they are home to over 400 leading companies, 15 public research institutions, 5 institutes of higher learning and corporate universities, and over 50,000 knowledge workers.

Biopolis is focused on biotechnology and biomedical research, while Fusionopolis is geared towards infocomm technology and media-related industries. Mediapolis is centred on the media industry, and Launchpad is a startup ecosystem aimed at supporting early-stage or incubator companies.

One-North Map

One-North Map

Below, we will explore the reasons why One-North has become a magnet for employment opportunities and how it presents a promising prospect for property investors.

 

The Rise of One-North: A Thriving High-Tech Hub

One-North has evolved into a thriving ecosystem, hosting a broad range of knowledge-based industries, research and development centres, startups, and multinational corporations.

This unique mix of entities has been fostered by the Singapore government to create a conducive environment for cross-industry collaborations, innovation, and talent development.

 

One-North's Strategic And Convenient Location A Major Draw

One of the significant factors that have fuelled the growth of One-North is its strategic location. One-North is situated beside Buona Vista, a popular housing estate situated at the fringe of the city.

It is well-served by public transportation, including two MRT stations – Buona Vista (East-West Line) and One-North (Circle Line). These two train lines take commuters straight into the Central Business District (CBD), Jurong Lake District (JLD), Greater Southern Waterfront (GSW), and Marina Bay.

With this excellent accessibility, it allows businesses to tap into the vast pool of talent from nearby prestigious educational and research institutions such as the National University of Singapore, Singapore-MIT Alliance for Research and Technology (SMART), Genome Institute of Singapore (GIS), and A*Star, to name a few.

This makes it an attractive choice for companies looking to establish their presence in Singapore and use it as a springboard to expand into the fast-growing region.

One-North is served by the Buona Vista MRT station

Buona Vista MRT Station

One-North is served by the One-North MRT station

One-North MRT Station

Cutting-Edge Infrastructure A Draw For Businesses

One-North Mediacorp Campus

One-North Mediacorp Campus

Another crucial factor that has propelled One-North into the limelight is its state-of-the-art infrastructure. One-North provides a seamless and conducive environment for businesses to thrive and it has attracted global companies such as Google, Equinix, GlaxoSmithKline (GSK), Lucasfilm, Procter & Gamble (P&G), and Seagate to set up their operations here.

Meticulously designed and planned with innovative urban solutions, One-North boasts modern office spaces, state-of-the-art research facilities, and co-working spaces that cater to the diverse needs of various industries.

The infrastructure is also equipped with advanced technological capabilities, including high-speed internet connectivity and smart solutions, which have attracted companies at the forefront of digital transformation.

 

A Vibrant And Collaborative Ecosystem

One-North Collaborative Space

Collaborative Space

One-North has fostered a vibrant ecosystem that encourages collaboration, innovation, and creativity. The development is home to a diverse mix of companies from different industries, creating a melting pot of ideas and expertise.

The co-location of companies from various sectors, such as technology, biotechnology, media, and education, has facilitated the cross-pollination of ideas and collaborations, giving rise to ground-breaking innovations.

This has given rise to a number of “unicorns” such as Sea, Grab, Lazada, Razer, and Trax. A unicorn is a privately-owned startup company with a valuation of more than US1 billion dollars.

At the same time, the vibrant ecosystem has also resulted in a dynamic job market, with abundant opportunities for skilled professionals seeking employment in cutting-edge industries.

 

Highly-Educated Talent Pool Fuels The Growth of One-North

The availability of a skilled talent pool is a critical aspect that has contributed to the success of One-North as a major employment hub. One-North is surrounded by prestigious educational institutions, such as the National University of Singapore (NUS), INSEAD, ESSEC Business School, and Singapore Polytechnic, which produce a steady stream of graduates with specialised skills in various fields.

This talent pool acts as a valuable resource for businesses in One-North, providing a continuous supply of skilled workers to drive their operations and fuel their growth.

 

Government Support A Critical Growth Factor

The Singapore government has been proactive in supporting the growth of One-North as a technology and research hub. The development is part of the government's strategic plan to promote the growth of knowledge-based industries and create high-quality jobs for its citizens.

The government has provided various incentives and initiatives to attract businesses to One-North. This includes the Research, Innovation and Enterprise 2025 Plan (RIE2025). The RIE2025 plan is a national blueprint to develop a knowledge-based economy, improve the lives of its citizens, and position itself as a leading innovation hub.

Under the plan, the Singapore government will inject $25 billion over five years from 2021 to 2025 to support research, innovation, and enterprise activities in key areas such as health and biomedical sciences, advanced manufacturing, urban solutions and sustainability, among others.

 

A Vibrant Lifestyle Hub

Contrary to popular belief, One-North isn't simply a monotonous cluster of high-tech office structures. The locale is in fact brimming with life and is rapidly evolving into a bustling lifestyle hub.

Designed to be a vibrant and integrated community that caters to the diverse needs and aspirations of both residents and workers, it offers a plethora of amenities that cater to a complete lifestyle.

These include two shopping malls, Star Vista and Rochester Mall, that offer a diverse range of amenities. Around the precinct is a plethora of restaurants, cafes, bars, gyms, and recreational facilities that cater to the lifestyle needs of its diverse population.

These amenities provide a conducive environment for leisure, socializing, and networking, which are essential for fostering a vibrant community and lifestyle hub.

Star Vista Shopping Mall at One-North

Star Vista

Rochester Mall at One-North

Rochester Mall

A Green Living And Working Environment

One-North offers a refreshing green living and working environment that serves as a welcome respite from the hustle and bustle of city life. One of its standout features is the expansive 16-ha park that spans 11 land parcels, providing ample space for visitors, workers, and residents to immerse themselves in nature.

The park is a key component of the district's work-live-play-learn environment, which promotes a sustainable and healthy lifestyle. It features several green pockets, such as the Hilltop Plaza at One-North Park, where visitors can relax and take in the picturesque views. There is also a playground for children to indulge in outdoor fun.

Apart from One-North Park, which is made up of different parks that form a park corridor that connects various developments in the precinct, the Rail Corridor also offers many interesting outdoor activities.

The Rail Corridor was a former Malaysian railway track that spans 24 km from Woodlands in the north to Tanjong Pagar in the south, traversing through the entire One-North District. Transformed into a green lung, it provides various outdoor recreational activities such as hiking, cycling, and the opportunity to explore Singapore's rich flora and fauna.

The Rail Corridor presents a unique opportunity for everyone to experience the natural beauty and history of Singapore. As the trail connects to other parks and green spaces in the area, including One-North Park, it creates a network of green corridors that promote sustainable and healthy living.

One-North Park

One-North Park

One-North Park Children's Playground

One-North Park Children's Playground

Proximity to Prestigious Schools & Educational Institutions

One-North and its surrounding areas, namely Buona Vista and Clementi, are commonly recognised as an "Education Hub". This is mainly due to the presence of many prestigious schools and world-class educational institutions in the vicinity.

This will have a positive impact on property values, according to a study by the NUS Institute of Real Estate Studies, The study reveals that properties located in close proximity to reputable educational establishments have been observed to command a premium.

Some of the popular primary and secondary schools include Henry Park Primary School, Nan Hua Primary School, NUS High School of Maths & Science, and the School of Science & Technology.

When it comes to tertiary educational institutions, the National University of Singapore, Singapore Polytechnic, INSEAD, and ESSEC Business School all operate within the district.

National University of Singapore (NUS) is near One-North

National University of Singapore (NUS) .

Singapore Polytechnic is located near One-North

Singapore Polytechnic.

In addition, the district is also home to many international schools that cater to the needs of the children of expatriates. These include the United World College of Southeast Asia, Dover Court International School, and Tanglin Trust School.

The presence of these international schools serves several purposes, such as meeting the educational requirements of expatriate families by offering an international curriculum, attracting global talent to bolster Singapore's future economic growth, and creating a multicultural community by bringing together individuals of diverse cultures and backgrounds.

United World College of Southeast Asia, international school is located at One-North

United World College of Southeast Asia

Tanglin Trust International School is located at One-North

Tanglin Trust International School

One-North - An Upcoming Property Hotspot

The rapid development of One-North as a major employment hub presents property investors with a promising investment opportunity. This is due to the high demand for housing amid a shortage of residential developments within it.

Currently, the only residential developments in One-North are the One-North Residences and Rochester Residences, which were completed in 2009 and 2011 respectively.

There were no new property launches until April 2021, when One-North Eden was introduced to the market. The development proved to be exceedingly popular, with 85% of its units sold during the launch, and the remaining fully snapped up soon after.

This clearly highlights the strong demand for residential properties in the One-North and this bodes well for its future prospects. At present, One-North Eden is still in the construction phase.

After the successful launch of One-North Eden, this was followed by Blossoms By The Park. During its launch on 29 April 2023, it sold 200 out of a total of  275 units (75%). This was despite another round of property cooling measures that took effect on 27 April 2023 which saw ABSD for foreigners doubling to 60% from 30%, among other tweaks.

Next up will be The Hill @ One-North, which is expected to be launched in the near future.

 

Other Mixed-Use  Developments At One-North

Mixed-use developments at One-North

New Land Parcels for Mixed-Use Developments

In order to support the growth of One-North, the URA has launched a site at Media Circle for sale under its Confirmed List on 30 June 2023. The 114,420 sq ft site has a gross plot ratio of 2.9 and is zoned “residential with commercial at first storey”. It is estimated to yield about 355 residential units and 4,304 sq ft of commercial space.

Subsequently, on 6 October 2023, the URA announced that it would be rezoning a plot of land bounded by One-North Avenue and Media Circle from a business park to a residential development with commercial units at the first storey. According to URA, the plot will have a “high-density residential development” to support the demand for housing in the One-North area while enhancing it as a vibrant mixed-use business park.

The 6,170 sq m (66,413 sq ft) land parcel, next to Infinite Studios and near the Grab headquarters, is about the size of one football field. It is expected to yield about 280 to 310 residential units with shops, restaurants and cafes on the ground floor.

 

First Residential Development At Science Park

one-north development - Site of new 300-unit condominium at Science Park

New Condo at Science Park

A new condo development will also be built in the nearby Science Park. Sitting on a site of about 0.7ha, it will be linked to Kent Ridge MRT station via Geneo, an integrated development set to fully open in 2025, according to CapitaLand Development, the business park's master developer and operator.

This project signifies the intensification of Science Park and its transformation into a live-work-play-innovate environment. At the heart of Singapore's innovation hub, it will foster a vibrant community where residents can access recreational facilities easily.

There are also plans to make the precinct more accessible and pedestrian-friendly, rather than vehicle-centric. For example, CapitalLand is looking to build more covered walkways linking Kent Ridge MRT station to Kent Ridge Park, creating community nodes where people can gather and participate in activities.

 

High Rental Demand for One-North Residential Properties

The growing number of businesses, startups, and research institutions in One-North has resulted in high demand for rental properties in the precinct, with average yields ranging between 3.6%-4.0%. This presents an attractive opportunity for property investors seeking to capitalise on the growing demand for housing.

The competitive rental market will ensure a steady stream of rental income for property owners in the long term, making it a desirable investment option. With the area's continued development and importance as a major employment hub, the demand for rental properties can be expected to remain strong.

 

Capital Appreciation Potential

In addition to the attractive rental income, property investors in One-North can also benefit from the area's strong potential for capital appreciation (see chart).

Below is the 20-year average price trend of Queenstown Planning District, which includes the One-North precinct. It shows an impressive 345% gain for private residential properties, attesting to their excellent growth potential.

Queenstown Planning Area (which include One-North) 20-Year Average Price Trend

20-Year Average Price Trend

One-North's limited supply of residential housing and the government's ongoing efforts to foster the growth of knowledge-based industries in the precinct make it an attractive investment destination for savvy investors.

Given the robust demand for properties and the anticipated future growth of the area, property values are expected to appreciate over time. This presents a significant opportunity for property investors to realise substantial returns on their investments.

Moreover, given the hefty hike in ABSD rate recently for foreigners to 60% from 30%, this can be expected to push them towards renting a home rather than buying a property. This will further fuel the demand for rental homes in One-North.

To find out more about property investment or get an update on Singapore’s property market, please WhatsApp or Email Me.

 

Frequently Asked Questions (FAQ) About One-North

Which part of Singapore is One-North located in?

One-North is a subzone of Queenstown located in the southern part of Singapore. It is within walking distance of the Buona Vista and One-North MRT stations. Conceptualised in 1991, it was developed by JTC Corporation as the country's research and development and high technology hub.

 

Why is it Called One-North?

One-North derives its name from the fact that Singapore is located one degree to the north of the equator.

 

Is it Easy to Get to One-North?

One-north is easily accessible by public transportation. The precinct is served by several MRT stations, including One-North MRT, Buona Vista MRT, and Kent Ridge MRT, as well as public buses.

 

What are Some of the Private Housing Developments Within One-North?

There are several private housing developments located within One-North. These include One-North Residences which was completed in 2009 and The Rochester Residences in 2011.

More recent property launches include One-North Eden and Blossoms By The Park, with The Hill @ One-North expected to follow suit.

 

 

Posted in Property Hotspots.

Hi, I'm Lance Kuan, an Associate Marketing Manager at Huttons Asia Pte Ltd, one of the largest property agencies in Singapore.

With almost 30 years of experience in banking, investment and market analysis, I now find immense pleasure in helping others in property investment and asset progression.

My blog - Sg Home Investment - offers essential property reviews, research and guides to help buyers make an informed investment decision. Please feel free to WhatsApp Me if you have any queries about the real estate market in Singapore.