The Blue Dollar Sign Icons represent the enbloc projects in Singapore (late 2017 to Mid 2018).
We can see from the map
- The projects are still mainly concentrated in District 09, 10, 11, 21 (Prime-Central Districts) and 15/16 (East Coast).
- District 19 (Serangoon) area is seeing activity in enbloc as well
- Jurong (Chinese Garden) area is getting some interest
Now, if we consider the reasons why home owners will do an enbloc exercise, the factors are both push-pull.
Home owners may find that their properties are getting old and require higher maintenance to upkeep, thus using this opportunity to sell directly to developers, in the hope of getting a better price than selling indivdually.
The developers (and market) may see potential growth and price uptrend within a particular location. Resources are limited, and every company will always seek to make a well-calculated investment that offers highest returns for lowest risks.
For the traditional “popular” districts of Orchard – River Valley – Newton – Bukit Timah, there are surely many projects that are ready for enbloc. Developers are always hungry for properties in these locations. These are “safe bets” and developers know that as long as they do not over-bid, these locations are like what some durian sellers call “bao jiak”.
But, looking outside of these locations, we observe Serangoon area and Jurong Lake getting some activity as well.
For the West Coast location, there are already plans to move the Port Terminal at Pasir Panjang to Tuas Megaport by 2040. We leave it to your own interpretation.
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The Keppel / Tanjong Pagar / Brani Port Terminals will be moved to Pasir Panjang Terminal and operate for about 20 years. The leases for these “city ports” expire in 2027, and these land plots will form part of the Greater Southern Waterfront Project.