Over 12,000 new homes may rise in East Coast

The phenomenon comes as upgraders pushed prices in new townships and traditional areas nearer to those in the fringe area around Orchard Road, said Cheng Wai Keung, chairman and managing director of Wing Tai Holdings.

Around 6,000 HDB flats could be built in the East Coast in future, offering sea views. (Photo: Eustaquio Santimano, Flickr)

The authorities are considering building a new Bayshore district, with more than 12,000 new homes along the East Coast, reported the Straits Times.

The article cited tender documents published by the Urban Redevelopment Authority (URA), that invited consultancy firms to craft a master plan for the area sited on reclaimed land, which is currently mostly occupied by private homes.

“The number of public and private housing units has been projected as 6,000 public units and 6,500 private units, and is still under study,” said a URA spokesperson.

The documents show that that new 60ha Bayshore district, approximately two-thirds the size of Bidadari, is bounded by Bedok Camp, Bayshore Road, East Coast Parkway and Upper East Coast Road, with some portions of it currently occupied by a forest.

Situated between two upcoming MRT stations, Bayshore and Bedok South on the future Thomson-East Coast Line (TEL), the site is expected to come with amenities like shops, schools, and an integrated transport hub.

Although the winning consultancy will submit its final proposal in December 2017, the spokesperson added that the new district will not be developed “in the near future”, but the two MRT stations are targeted to be operational by 2024.

The last time HDB flats were constructed there was when the old-generation flats in Marine Parade were built in the 1970s, with some of these units sold on the resale market for more than $900,000 in recent months.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg