Singapore’s southern coast is on the cusp of a transformation that promises to redefine urban living, integrating work, life, and play along a continuous 120km waterfront. This ambitious project, highlighted by Prime Minister Lawrence Wong in his maiden National Day Rally speech, outlines a vision for the future that is both bold and sustainable.
For those invested in the real estate market, this development presents a significant opportunity to anticipate and navigate the evolving landscape. If you’re not caught up with the latest housing updates from this year’s National Day Rally, we got you covered.
Remaking Singapore’s Southern Coastline
The remaking of Singapore’s southern coastline is more than just an infrastructural upgrade; it is a blueprint for a future city that thrives on connectivity, sustainability, and inclusivity. Stretching from Pasir Panjang Terminal to Tanah Merah Ferry Terminal, this 120km coastline will encompass key areas like the Greater Southern Waterfront, Marina Bay, Kallang Basin, and the future Long Island project. This transformation is poised to create 800 hectares of reclaimed land off East Coast Park, opening up vast possibilities for residential, recreational, and commercial development.
New Waterfront Precincts
As part of this grand vision unveiled at the National Day Rally, new homes will be added to waterfront precincts near the city, particularly in Marina East and Nicoll – two areas that are poised to become vibrant, mixed-use developments. These precincts, nestled between Marina Bay and the Singapore Sports Hub, will be strategically designed to promote a car-lite, pedestrian-friendly lifestyle, with an emphasis on sustainability.
The Marina East precinct, spanning 150 hectares, will feature a mix of housing options, sports and recreational facilities, schools, parks, and healthcare services. The area’s connectivity will be enhanced by a pedestrian bridge linking Bay South Garden with Bay East Garden and the Founders’ Memorial, set to open in 2028. This holistic approach ensures that residents will enjoy a seamless blend of urban amenities and green spaces, fostering a balanced and healthy lifestyle.
Similarly, the Nicoll precinct, covering approximately 59 hectares, will be developed with a focus on integrating the rich historical context of the area with modern residential and recreational uses. This thoughtful planning reflects a commitment to preserving Singapore’s heritage while catering to the needs of future generations.
Sustainability and Inclusivity: Key Pillars of Development
A critical aspect of this transformation is the commitment to sustainability. The Marina South area, already under development, will feature more than 10,000 homes, with a strong emphasis on sustainable living. This precinct, along with others like Kampong Bugis and Tanjong Rhu, is being designed to be car-lite, with extensive cycling networks and pedestrian-friendly streets, reducing the reliance on cars and promoting a healthier, more eco-friendly way of life.
Kampong Bugis, spanning 17.4 hectares, was set to have 4,000 private homes but due to delays in soil remediation works, was removed from URA’s list of GLS sites in 2022. More detailed development plans for this future housing precinct will likely follow when the sites are ready.
However, the success of these developments hinges on careful planning. While coastal developments globally have often become exclusive enclaves for the wealthy, Singapore’s approach aims to avoid this pitfall by ensuring that housing remains accessible to a broad spectrum of residents.
This approach is already evident in the Tanjong Rhu precinct, which currently consists of over 5,000 existing homes that are predominantly private properties. In the recent June 2024 BTO sales exercise, the Tanjong Rhu Riverfront I and II PLH projects were launched, injecting a combined 2,063 public housing units into the precinct. This is the first time in 60 years that public housing projects are launched in the area.
The inclusion of mixed-use developments, combining residential (both public and private), commercial, and recreational spaces, is key to creating vibrant and inclusive communities that remain lively and functional beyond working hours.
Opportunities for Real Estate Investors and Homebuyers
For real estate investors and aspiring homebuyers, these developments represent a golden opportunity. The transformation of Singapore’s southern coastline will undoubtedly increase the value of properties in these precincts, making them highly sought after in the coming years. Early investment in these areas could yield significant returns as the developments progress and the precincts evolve into thriving urban centres.
Furthermore, the introduction of diverse housing options in these waterfront precincts means that there will be something for everyone, from luxurious waterfront condos to more affordable public housing units. This diversity ensures that the benefits of living in these prime locations are not limited to a select few, but are accessible to a wide range of Singaporeans.
A Vision for the Future
PM Wong’s National Day Rally speech underscored the long-term nature of these projects, comparing them to the decades-long development of Marina Bay that began right after Singapore gained independence in 1965. While these transformations will take time to fully materialise, the groundwork being laid today will shape Singapore’s urban landscape for generations to come.
As Singapore continues to grow and evolve, these waterfront precincts will play a crucial role in defining the city’s future. For those looking to be part of this exciting journey, now is the time to start planning and positioning for the opportunities that lie ahead.
In conclusion, Singapore’s future housing transformation is more than just a real estate development; it is a visionary project that embodies the nation’s aspirations for a sustainable, inclusive, and vibrant future. Whether you are an investor, a homebuyer, or simply someone interested in the future of urban living, the developments along Singapore’s southern coast offer a glimpse into the possibilities of tomorrow.
If you need guidance in navigating your property journey or a second opinion on how these future transformations can impact your property investments, do reach out to us here and we will be glad to help make sense of your options. See you in the next one!
