Singapore CBD to see identity shift

STATE planners unveiled a scheme on Wednesday to try to make"work- live-and-play" more of a norm throughout the currently office-dominated Central Business District , which is likely to get developers crunching their numbers for possible redevelopment.

Christine Li, senior director and head of research for Cushman & Wakefield, said:"This could potentially cause Grade A CBD office rents to rise further as supply is taken off the market. Nonetheless, there could be positive outcomes as some companies would shift out of the CBD, which is in line with the government's decentralisation strategy of commercial activities."

Greater utilisation and efficiency of core areas here appeared to be a core theme in the Draft Master Plan, CBRE notes. Its head of research for Singapore and South-east Asia, Desmond Sim, said it was encouraging to see bottom-up flexibility as seen from the SDI scheme, as he observed URA has been traditionally stringent in how land should be developed here.

Elsewhere, rejuvenation of several mature areas will take root in places such as the Queenstown area, Buona Vista, Beauty World and Sungei Kadut which are all near the 24-kilometre Rail Corridor. The green spine will be largely connected by 2021, and about one million people will live within one kilometre.

For the upcoming Greater Southern Waterfront - spanning more than 2,000 ha, and about six times the size of Marina Bay today - development works for some parts will start in the next five to 10 years. The former Keppel Club site will become a new residential precinct; and the old Pasir Panjang Power District will be turned into a heritage and lifestyle hub.

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