THE
CONTINUUM
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Redefining the East side: The impact of Paya Lebar Airbase Relocation

As part of the master plan to unlock space freed from the Paya Lebar Airbase, the site could be transformed into a new-generation city, offering homes, jobs, and lifestyle options to communities, together with a network of parks, nature corridors, and waterways.

Source: URA

Paya Lebar Air Base will start moving out in the 2030s, making way for private and public housing, amenities, commercial, industrial developments.

About 800ha of Paya Lebar airbase would be cleared for housing and industries. The relocation in the next ten years would open the way to up to 150,000 new homes and enable taller buildings in surrounding towns, a move that opens up opportunities for real estate developers.

Source: URA

PM Lee said Singapore plans to convert the 3.8-kilometre runway into a community space with public and private housing being built on either side.

While the relocation will not start until 2030, the Urban Redevelopment Authority (URA) has already begun engaging with the public and industry partners to look at concepts to rebuild a new city.

With the move of the Paya Lebar Air Base in 2030, the Airbase and the surrounding industrial developments could gradually transform into a new, highly liveable, and sustainable city.

With the closure of the airbase, the height restrictions enforced in the Central Business District (CBD) in Singapore, which restrict buildings to a maximum height of 280 metres, will be lifted, with the Airbase District being redeveloped as a new city, featuring housing projects, offices, factories, and parks. Singapore will welcome the city’s super skyscraper – Skywaters Residences, the tallest building at 305m in the CBD, in 2028.

Besides clearing the ground for new homes at Paya Lebar, a move to Paya Lebar Airbase would also mean the removal of certain building height restrictions surrounding it, which would enable redevelopment of cities like Hougang, Marine Parade, and Punggol, Prime Minister Lee Hsien Loong said during the National Day Rally.

He also gave updates on the development of the Tuas Port and the Changi Airport Terminal 5 (T5), noting the decision to go ahead with these big infrastructure projects would send “a clear, loud message to the world that Singapore is coming out strong from the pandemic, and is charging full speed ahead.

With the move away of Paya Lebar Airbase expected to begin in the 2030s, the regeneration of nearby towns would enable more amenities to be added, and better use to be made of space, he said.

The Continuum: Enjoy Urban Living with a Splash of Nature

District 15 (East Coast/Marine Parade) is, according to surveys and statistics, the most sought after area in Singapore by both home buyers locally and overseas, after District 9, 10 and 11. The Continuum is an ideal sanctuary for those looking for a relaxed lifestyle, one that seamlessly balances work with quality time spent indoors and out with their families. Properties in District 15 provide residents with a unique East Coast lifestyle, if they are located nearby to the largest park in Singapore – the East Coast Park.

Apart from being near to a variety of popular amenities, The Continuum is also a popular neighbourhood to expats living in Singapore as it is within close proximity to Downtown and the Central Business District (CBD) and Changi Airport is just 15mins drive away, makes District 15 homes one of the most desired places to live in Singapore. In recent years, homes on the East Coast have gained attraction with growing families, in large part because of East Coast’s proximity to iconic parks and green spaces, and with a new Thomson-East Coast line planned for the region.

Property prices have been performing well on the east coast (D15), with the area being among the most appealing due to the proximity to downtown and the many amenities. Now, with the forthcoming Thomson-East Coast Line connecting many places in District 15 with all major locations within Singapore, and also with Johor Bahru, Malaysia, this will further increase the attractiveness of properties in East Coast areas.

Live Close to Opportunities: Paya Lebar Regional Centre just Minutes Away

Given Paya Lebar’s proximity to the city, connectivity to different parts of Singapore, and many city-regeneration plans for the area, Paya Lebar has become a new commercial, retail, and residential enclave. With a series of developments recently completed,  Paya Lebar will join other business centres such as the Tampines Regional Centre, Jurong Lake District, and Woodlands Regional Centre as an emerging commercial powerhouse beyond the CBD.

After going through a $150-million renovation, the 269,100-square-foot SingPost Centre, will help drive up activity levels at Paya Lebar Central, being the largest E-commerce shopping centre in Asia. With URA’s greater decentralisation strategy, this will increase property prices in areas around Paya Lebar Central.

As part of the 2014 Urban Redevelopment Authority of Singapore (URA) Master Plan, Paya Lebar Central was identified as one of five growth areas.

Experience the Ultimate Lifestyle with Convenience and Connectivity at The Continuum

Paya Lebar Quarter is a mixed-use development project, located in Paya Lebar Regional Centre and MRT Interchange is just 10minutes walk from The Continuum.

Developed as the Regional Centre of the east, Paya Lebar Quarter stands out as the vibrant urban center in the East. Aligning with URA’s masterplan for a forward-looking commercial centre located between the CBD and Changi Airport under the Master Plan 2019, Paya Lebar Regional Centre has since been revitalised to become a major lifestyle centre, includes more mixed-use developments offering you a diverse mix of work, live and play lifestyle.

As part of PLQ, The Retail Mall features six levels of retail, one level featuring cinemas and other entertainment offerings, and a rooftop garden. As a mid-sized retail center, the mall features more than 340,000 square feet of retail, food, and entertainment.

The $3.6-billion PLQ consists of Grade A offices, shopping mall connected with an indoor covered plaza that could accommodate events and festivals, as well as outside kiosks, a water fountain, and an outdoor children’s play area.

Discover the New East Coast: Exciting Developments and Endless Possibilities

Whether it is its proximity to East Coast Park and the beach, the eclectic appeal of Joo-Chiat-East Coast’s conservation houses, or amenities ranging from schools to shopping centres to an array of restaurants, the neighbourhood is setting new price records. Bernard Tong, CEO of EdgeProp Singapore said resale prices have appreciated by 35% over the last ten years in the East Coast area, compared with an average increase of 27.5% across Singapore.

“Long Island” along the south-eastern cost from Marina East to Changi could integrate coastal protection measures with planned future reclamation.

The Future Long Island along the East Coast could have a reservoir and housing. This could act as an extension of Singapore’s Marina East, Nature Corridor and Marina South.

Source: The Straits Times

Stay Ahead of the Curve: Prepare for the Next Property Cycle

In 2021, Hoi Hup and Sunway have added to their shared land banks, anticipating continued housing market resilience. In September 2022, the two developers bought Flynn Park together in an en bloc transaction worth $371 million.

The freehold parcel of land at Pasir Panjang works out at $1,318 a square foot (PSF) per plot ratio. The parcel will be converted to a new project with a total of 270 units named Terra Hill.  The joint venture also bought freehold sites at Thiam Siew Avenue in District 15, on 19 November for $815m. The deal involves 22 landed sites on Thiam Siew Avenue, which is located between Haig Road and Tanjong Katong Road and marks the biggest residential land transaction since the previous collective sales wave of 2017-18.

While the last couple of years have seen a shortage of land available to develop into housing, Hoihup believes that land supply could increase in the coming year, thanks to the government land sales.

I think that we should not rule out acquiring another parcel, but certainly be much more selective, Koon said. “Any site that we pick up has to be complementary to our focus and strengths, and it has to develop into a project that delivers a good-value, good-quality house for homeowners.

Looking forward, it is possible the joint venture partners will advance the value chain into higher-end housing projects. Based on our track records and experience, there is much that the two companies can bring to bear in other segments of the private residential market, says Koon. The brand new Terra Hill project, for instance, are likely to be a mix of two- and five-bedroom units, and they are hoping to deliver larger units than are usually expected.

“The pandemic has taught us how to adjust rapidly, particularly with regards to the way that we are designing and planning future homes, as well as the execution of timely deliveries on our projects. It is more difficult now to keep up with customer expectations under this new normal,” says Wong. Koon says that the housing market has proven very resilient, with the market continuing to advance with momentum.

This should provide both domestic and overseas buyers with more confidence in investing in homes in Singapore.

Related:

Certis and Lendlease Break Ground on Paya Lebar Green

New private home sales hit 7-month high in April

THE CONTINUUM SHOWFLAT

• 1 to 5-bedroom residences
• Rare Freehold in District 15 with full condominium facilities
• 8mins walk to Paya Lebar Regional Centre and MRT
• Within 1km to reputable schools such as Kong Hwa School
• 3 mins’ drive to ECP
• 1 MRT stop to the Downtown MRT Station
• 6 MRT stops to Marina Bay
• 8 MRT stops to Central Business District

Everyone’s journey begins with a single step.

Get to know The Continuum by Registering to View Showflat.