Prime Minister Lee Hsien Loong announced some new plans last night at his National Day Rally. Here are the highlights that may affect our investments.
Infrastructure
Paya Lebar Airbase to shift to Changi, freeing up land for homes, offices and factories
Comments: Paya Lebar Airbase plot is big enough to establish a whole new township. Just like how Bidadari will see about another 38,000 units of new homes being created, the new township at Paya Lebar Airbase plot may flood another similar number into the market.
Build a new Air Force air base and fourth runway at Changi East
Comments: Military aircraft are noisier than commercial aeroplanes. This may affect properties there moving forward. The good news is, it may take the next 2 decades to full realise.
New ‘Jewel’ project at Changi Terminal 1, with shops, restaurants and indoor garden
Terminal 5 to be ready by mid-2020s
Comments: This morning CMA (JS8) announced, “CapitaMalls Asia collaborates with Changi Airport Group on project at Changi Airport to jointly develop the concept and plans for the proposed redevelopment of the car park site fronting Terminal 1 at Singapore Changi Airport". They were ready all along. The “Jewel” shall be realised sooner than people think. T5 may still be a decade away so, I shall not be bothered about it too soon.
1,000 ha Southern Waterfront City, after container portsmove to Tuas
Comments: Questions now are, “Who will build it? Who will own it?” 1000ha = 107,637,000 sqft. Projects here for developers could mean hundreds of millions at the very least. This is something to watch out for.
Housing
Build-To-Order prices to remain stable, more help for lower- and middle-income families
Comments: Ridiculous prices for public housing may be over. This is in hope of putting an end to speculation on public housing.
I have no doubt that these plans will be executed flawlessly unless there is political instability.
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