Much has been said about the Jurong Gateway Masterplan and KL-Singapore HSR project, but in the latest Guru Talk seminar, one property expert shares his views on how these developments will benefit surrounding areas.
Since news of the location for Singapore’s High Speed Rail (HSR) terminus broke in May 2015, there has been renewed excitement over plans for the Jurong Lake District.
To shed more light on this hot topic, the latest edition of Guru Talk – a series of knowledge empowerment seminars – saw industry expert Thomas Tan, Executive Director of RE/MAX, provide insights on the Jurong Gateway Masterplan, the latest developments surrounding the KL Singapore HSR project and the spillover effect on nearby properties.
Speaking to over 50 attendees at the Waterfront@Faber showflat in Clementi, Tan underlined the importance of Jurong Lake District as the ‘second CBD’ of Singapore. He noted that this was part of plans to help ease congestion caused by the large number of workers travelling to and from Raffles Place and Marina Bay.
“What the government is trying to do now is to decentralise activities from the south where the current CBD is located, through various masterplans,” said Tan.
“By spreading these activities out to Jurong, Tampines and Woodlands, it allows residents living in those areas to go to their respective centres to work, alleviating the congestion of travelling to the southern part of Singapore. This is what the government is planning to do,” he noted.
Delving deeper into the subject, Tan shared that the KL-Singapore HSR project will certainly enhance the pool of tourists and business travellers to the area, resulting in a larger workforce to serve their recreational and economic needs.
This is how a spillover effect is created; an increased workforce would mean a rise in demand for housing, which eventually spills over to surrounding estates such as Bukit Batok, Bukit Panjang and Clementi.
“When you have more tourists visiting and more businesses operating out of Singapore because of the HSR, you will need more workers. When more jobs are created, which also serves the purpose of keeping our unemployment rate at 2.0 percent, naturally workers will have to live somewhere, be it in a HDB, rented unit or private property.
“After building up the Jurong area to facilitate the leisure and tourism sectors and offices to attract businesses, the eventuality is that the Jurong precinct will run out of land, and when this happens, the surrounding estates will play an important role,” he added.
Meanwhile, attendees felt the topics presented were informative, helping to increase their knowledge of the property landscape in Singapore.
To find out more about what was shared at the latest Guru Talk, watch our videos at: bit.ly/GuruTalkAug1
For more information on upcoming Guru Talks and getting our Guru View, go to: bit.ly/GuruTalk
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