Singapore: Experts in the real estate market told CNA that the soon-to-be-reclaimed “Long Island” location on the coastline of East Coast Park near Tembusu Grand might see a combination of public and private developments, with the possibility of 60,000 additional houses.
It is unclear how the current Tembusu Grand Price would be impacted in terms of pricing and views due to the lack of concrete plans, according to the experts.
On Tuesday, the government made an announcement on the long-term Tembusu Grand Floor Plan Project. It will start technical studies to determine how coastal protection measures might be combined with reclamation plans. Beginning in 2024, this research will be conducted in the subsequent years.
Long Island, if finished, might cover 800ha, or around 1,142 football fields. More waterfront housing and employment possibilities could be created, according to National Development Minister Desmond Lee.
With an additional 20 km of coastline and reservoir parks, the property would almost double the size of Marina Bay, increasing the length of the current shoreline area along East Coast Park.
Prime Minister Lee Hsien Loong first proposed the idea of Long Island during the 2019 National Day Rally.
He said that the government’s goal of building a more equitable society in which all citizens, not just the wealthy, have access to decent housing made the prospect of a second Sentosa unlikely.
Mr. Lee also brought up the possibility of constructing 30,000 to 60,000 residences “with a good mix of commercial, recreational and greenery,” with Long Island expected to be about the same size as the Kallang/Whampoa zone.
Homeowners in the freehold estates that dot the East Coast will reap the benefits of any new construction on Long Island. Mr. Lee went on to say that this might make en-bloc more likely.
Long Island is slated to be reclaimed at a higher elevation to defend against sea level rise, and the experts also discussed how current homes along the East Coast would profit from these efforts.
According to Ms. Sun, Long Island “provides an excellent way” to protect existing East Coast houses from flooding without sacrificing their coastline view.
Furthermore, additional residences will be able to enjoy a lovely view of the sea or reservoir if a new coastal road of high-rise apartments and workplaces is created along the sea. Additionally, she said that this construction would increase the area’s land space, which opens up additional possibilities for future expansion and housing development.
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