Forgot your password?
or

Don't have an account? Create An Account

For agents interested in participating on SRX, please contact us at +65 6635 3388 or write to us at feedback@srx.com.sg

ON TRACK

Achieve the life you want, in the home you love
Property News12 Feb 2018

People-Friendly Zone in Raffles Place

THE redevelopment of the former Golden Shoe Car Park will feature a 12,500 square foot public park, Minister for National Development and Second Minister for Finance Lawrence Wong said at a groundbreaking on Friday.

Market Street Public Park

CapitaLand, CapitaLand Commercial Trust and Mitsubishi Estate, which are jointly redeveloping the old carpark, had previously announced plans to turn the site at 88 Market Street, which used to house a popular food centre and carpark, into an S$1.82 billion integrated development.

Besides the public space, footpaths along Market Street, Malacca Street and Phillip Street will be widened with added greenery, along with sheltered linkways along Malacca Street between Raffles Place and other developments. There will also be new cycling paths along these streets, which will connect to upcoming developments planned as part of the Central Area cycling network.

Mr Wong said these moves were aimed at making the area greener, and a "vibrant people-friendly zone". "We hope that Raffles Place will be an area that is not only bustling with the working crowd in the daytime, but will also be a place where people will want to visit to gather and interact at night," he said.

At 280 metres, the 51-storey tower will be among the tallest in the Raffles Place area, and have 350 carpark spaces from levels four to eight. Golden Shoe Car Park had 1,053 carpark spaces.

The former Market Street Car Park had 704 spaces. CapitaGreen, the 40-storey Grade A office tower on the site and which opened in 2015, has 180 parking spaces.

Market Street Food Centre, previously housed in Golden Shoe Car Park, will reopen at the second and third levels . It will be owned by the Ministry of the Environment and Water Resources (MEWR). Currently, stallholders are operating at an interim food centre in Cross Street.

Plans for the new green space, walkways and cycling paths were developed as part of a multi-agency effort by the Urban Redevelopment Authority (URA), Land Transport Authority (LTA) and National Parks Board, in collaboration with CapitaLand, which will implement the enhancement works.

The works are expected to start in 2019, and will be completed by the first half of 2021 along with the integrated development.

With a gross floor area of about one million square feet, 88 Market Street will comprise 635,000 sq ft of Grade A office space; a 299-unit Citadines serviced residence to be managed by The Ascott Ltd; and ancillary retail space. It will also have a sky garden and a "City Room" on the ground floor which can be used for community events.

"We are confident that this integrated development will attract progressive companies seeking a future-enabled environment to grow their business, and attract the best talent," said Ng Kee Choe, chairman of CapitaLand at the groundbreaking.

Moray Armstrong, managing director of advisory and transactions for CBRE said: "The office space will be playing into a strengthening office market that is showing encouraging signs on the demand side."
Like this article? Share it.
mySG Home
Your Digital Home
Track Your Home. Discover Your Wealth
MY PROPERTY
CONCIERGE
The free, personalized advice, advocacy, and guidance for buying or renting property in Singapore
ON TRACK
Property News 25 May
Liang Seah Street, Little India shophouses for sale and auction

Three adjoining shophouses at 33 Liang Seah Street have been put up for sale via private treaty at $30 million, marketer Colliers International said yesterday.

The three units, which have multiple tenants, are on a single land title within the Beach Road Conservation Area and are zoned commercial and residential.

Property News 24 May
Balestier Regency up for collective sale at $218m

Balestier Regency, a 72-unit condominium complex off Balestier Road, was launched for collective sale by tender yesterday, with a minimum expected price of $218 million, Teakhwa Real Estate said.

The indicative price translates to a land rate of $1,264.90 per square feet per plot ratio (psf ppr), including a development charge of $1.35 million.

The land price will fall to about $1,220.90 psf ppr if the 10 per cent bonus balcony area is included, Teakhwa said.

Property News 23 May
HDB puts on sale 3,970 BTO flats in Sengkang, Yishun, Toa Payoh and Tampines

THE Housing Board (HDB) launched 3,970 Build-To-Order (BTO) flats across four projects in Sengkang, Yishun, Toa Payoh and Tampines on Tuesday, in the second such exercise this year.

Prices without grants range from S$76,000 for a two-room Flexi flat in non-mature estate Yishun, to more than S$422,000 for a five-room flat in mature estate Tampines.

About 17,000 BTO flats are expected this year.

Property News 21 May
Buyers snap up 70 units at Le Quest Phase Two launch on Saturday
SINGAPORE - Le Quest, a Qingjian Realty (South Pacific) Group mixed development project in Bukit Batok, sold 70 units on the first day of its Phase Two sales. Qingjian Realty has offered just 115 units for sale on Saturday (May 19), just a week after it opened up the development for Phase Two preview.

Contact Us

Hello Singapore! I'm Sevi. Ask me any property question.
Chat with Sevi
Sevi - AI Bot
Replies in seconds
Need to speak to someone? 6635-3388
Sevi
I'm Sevi, your personal assistant.

You can ask me basic property questions about transactions, listings, project info and X-value.

Some Examples:

1. Where is Gem Residences located?
2. Are there listings in Hillview Regency for 3 bedrooms and budget of $1.5m?
3. For how much can I sell my property?
4. What are the latest transactions in Bayshore Park?
5. Is it cheaper to buy HDB in Tampines or Jurong East?
6. What is the plot ratio for The Sail?
7. How many blocks are there in Ang Mo Kio Ave 3?

Type RESET or HELP whenever you need.