URA Major Urban Transformation Area in Singapore

A great way to look out for property with upside potential in Singapore is to get a real estate that is near to or within major urban transformations. According to URA, urban transformation projects are key growth areas to boost economic growth in the identified areas, creating new jobs and bringing more amenities closer to the residents.

The creation of new jobs will increase the demands for housing, in turn, increase the rental yield and prices of home in the urban transformation region. The building of more amenities will further enhance the attractiveness of living in the transforming region, further increasing the value of the home.

So, in the below summary of major urban transformations in Singapore, my focus is the number of jobs that will be created by the urban transformation to assess the future demand for housing in the identified urban area and the schedule of the development so you can better plan your investment horizon. That say, do check out the list below before you invest in resale property in the open market or new private condominium project from developers.

 

Major Developments Land Size Time & Schedule of Development Expected Number of Jobs Key Focus
Jurong Innovation District 600-Hectare Phase 1 to be completed in 2022. 95,000 Advanced Manufacturing
Tuas Mega Port 294- Hectare Operation begins 2021, expected completion by 2040 170,000 (jobs within maritime industry as of 2018 and another 5,000 jobs to be created in the next decade) Maritime
Jurong Lake District 160-Hectare 2008 and Beyond More than 100,000 new jobs Second Central Business District (CBD) of Singapore
Punggol Digital District 50-Hectare Phase 1 by 2023 28,000 new jobs Digital District
Paya Lebar Airbase 800-Hectare Begins 2030 To be updated Likely Aviation related theme.
Greater Southern Waterfront 2,000 Hectare 2027 onwards. To be updated Live, Play, Work
Star Destination of the North (Woodlands Regional Centre) 100-Hectare 2017 to 2027 Up to 100,000 new jobs Agri-Food Innovation Park
Changi Region To be updated 2019 onwards. To be updated Business Gateway to the World

 

Note: Do bookmark this page as I will update this page whenever new information is available.

Edwin Goh

Branch District Director, ERA

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In my seven years of real estate career, I have seen many property owners losing their money or have their money stuck in their property investment. Mostly because of bad decisions made based on lack of information, bad advice and unchecked emotions. I would love to meet up with every one of you and help you in your real estate journey, but this may not be possible. So, I have started this blog to share my insights and hopes they will help you make a better decision.

If you are ready to begin your rewarding real estate investment journey with me, Whatsapp me today at +65 9004 5827, till we meet, good luck in your real estate investment journey.

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