Punggol is set to Boom

SINGAPORE – After a difficult start – hampered by the Asian financial crisis some 15 years go – the development of Punggol housing estate has picked up pace in recent years.

Yesterday, the Government announced plans to transform Punggol into Singapore’s largest housing estate, with seven new districts for waterfront housing, as well as abundant to soften its projected high density.

Under the second phase of development – which will take place over the next 15 years and beyond – the number of public housing units in Punggol will increase by almost four-fold, from the current 26,000 to 100,000. About 48,000 new units are slated for completion by 2016.

“Punggol Town will be big … Punggol will be twice of what Ang Mo Kio is today,” said National Development Minister Khaw Boon Wan.

Coming: Waterwoods EC Punggol

Land sold for Anchorvale Crescent EC coming 2014,

Land sold for Punggol Central EC coming 2014,

Land sold for Punggol Drive EC coming 2014

Speaking at the HDB Awards ceremony, Mr Khaw outlined what would be the characteristics of the next phase of Punggol’s development.

Apart from its size, the town will have “distinctive districts, each with a unique character and identity” to give residents a strong sense of attachment to their neighbourhoods. There will be public spaces to encourage community activities.

Green parks and corridors will also be integrated with the waterfront promenades, including the 1.5km-long Old Punggol Road, which will be conserved as a heritage trail.

Among the seven “signature waterfront housing districts” on the cards, two are already under development – Northshore District and Matilda District – while another two will likely start development within the next five years, subject to demand.

The existing town centre will be expanded into the new “Punggol Downtown” which could consist of a waterfront Market Village, a Learning Corridor designated to house future educational institutions, as well as a Creative Cluster, designed to host new commercial activities.

Mr Khaw said the ideas for Punggol “underpin the planning philosophy that we are adopting for all HDB towns”.

“If we execute it well, we can create gems out of our HDB towns. This will raise Singaporeans’ quality of life and also strengthen our emotional links to the neighbourhood we live in”, Mr Khaw added.

According to HDB’s annual report, Punggol’s estimated resident population stands at 65,100 as at end-March last year.

The Punggol 21 project was first announced in 1996 by then-Prime Minister Goh Chok Tong. However, the Asian financial crisis in 1997 and 1998 saw demand for the new flats dip and construction slowed down. Residents then complained about the lack of amenities and critical mass.

In 2007, Prime Minister Lee Hsien Loong announced a new Punggol 21-plus plan to put the original vision back on track.

Noting the significant pace of development in Punggol in the last few years, property analysts said they expect strong demand for the waterfront projects in Punggol. These units are also expected to fetch a premium on the resale market later, they added.

Adding that the premium is “justified”, Propnex CEO Mohamed Ismail said: “Flats in Punggol, especially the waterfront ones, will command a premium as it is the aspiration of the younger generation to have worklife balance and there will be a demand for it as there are not many places in Singapore with waterfrontage.”

ERA Key Executive Officer Eugene Lim said Punggol has lived up to its billing as “a waterfront town”. He added: “The Government has invested extensively in the infrastructure of Punggol, thus inducing many home-buyers to buy into the area.”

SLP International executive director of research and consultancy Nicholas Mak said HDB will have to price the Punggol waterfront projects higher. He said: “Look at it this way, if all were priced the same and a seller were to sell his waterfront unit at a premium price, he is getting an unfair advantage… at the cost of tax-payers’ money.”

Punggol residents TODAY spoke to generally welcomed the development plans. But they hoped the pace of development can be faster.

Mr Mohd Razid, 40, who moved to Punggol Sapphire a year ago, said it takes him about 10 minutes to walk to the nearest coffeshop and half an hour of travel to get to Punggol Plaza, the only shopping mall in the town. Another resident, Jack S, 51, added: “We have been waiting for quite some time”.

Source: Today 17th October 2013

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Punggol is set to Boom

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