Plans for new waterfront city unveiled | 29 August 2013
Plans for a new waterfront city in Singapore have been announced by Prime Minister Lee Hsien Loong.
In his annual National Day address, Lee described plans to move Singapore’s port to a new location in Tuas in 2027, freeing up land for a brand new city in Tanjab Pagar.
The waterfront location would appear to be the perfect spot for a new hub of prime residential and commercial properties
Lee also outlined proposals to move a military airbase in central Singapore to Changi in 2030, creating almost 2,000 acres of space for new homes, factories and businesses.
In an interview with reuters.com, Lee suggested that these changes were key to prevent expanding markets like Bangkok and Kuala Lumpur from stealing business.
“This is how we can stay the hub in Southeast Asia and create many more opportunities for Singaporeans,” he said.
Moves to double the capacity of Singapore’s airport, adding tourist attractions and an extra terminal, were also outlined. The development dubbed ‘Project Jewel’ will be completed by CapitalMalls Asia.
In a statement released to commercialguru.com.sg, the developer said: “The project will involve the construction of a new mixed-use complex offering aviation and travel related facilities, a wide range of retail offerings, as well as unique leisure attractions.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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Staff from Qube Global Software will attend MIPIM Asia, the two day global leader summit, at the beginning of December 2015. Topics this year include Asia Pacific inbound and outbound investment flows, regional development opportunities and projects, and real estate trends.
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