Property portal 99.co presents the following weekly property news roundup for the week of 25 to 31 July:
#1: Woodlands-Johor rail link project officially on track again
After multiple postponements, the official ceremony to resume the Woodlands-Johor Rapid Transit System (RTS) project was held on 30 July at the Causeway–one day ahead of the final deadline.
The go-ahead was agreed based on several changes to the original plan. The key difference is that the RTS Link will now be a standalone light rail transit (LRT) system, instead of using the same trains and systems as Singapore’s Thomson-East Coast MRT Line (TEL), according to a joint statement released by both countries.
This change will make the RTS cheaper to build. Malaysia’s expenditure on the project is expected to reduce from RM4.93 billion (S$1.6 billion) to an estimated RM3.16 billion.
The projected maximum capacity of 10,000 passengers an hour remains unchanged, but experts cautioned that costs in the long run due to higher wear and tear and maintenance expenses.
Construction on the 4km-long cross-border LRT line is expected to commence in January 2021, with completion expected in 2026. The RTS Link Terminus in Singapore will be located next to the Woodlands North MRT Station, which is part of the Thomson-East Coast Line.
[Recommended article: How will the Johor rail link shape Woodlands property prices?]
#2: Two adjacent freehold District 9 condos ‘join forces’ for en bloc attempt
The majority owners of Fairhaven and Sophia Ville along Sophia Road have agreed to band together to find a developer willing to purchase both properties for more than $64 million.
Located next to each other along Sophia Road in District 9, the properties have a combined site area of 23,828 square feet in a low-density, low-rise hilltop residential enclave of Mount Sophia.
According to sole marketing agent JLL, the combined site has a potential gross floor area of 53,541 square feet which includes a potential 7% bonus balcony area. This means a yield of around 55 condomium units.
Future residents will be within a ten-minute walk to Plaza Singapura and Dhoby Ghaut MRT, and have easy accessibility to Orchard Road, the Bugis arts and civic district and the CBD. St. Margaret’s Primary School is also right next door.
The indicative price of $64 million translates to $1,279 psf per plot ratio (ppr), or $1,195 psf ppr after factoring in the bonus balcony area.
The tender exercise for developers will close at 2:30pm on the 23 September.
[Browse all condos for sale in District 9.]
#3: New funeral parlour planned for Woodlands
On 28 July, The National Environment Agency (NEA) launched a land parcel in Woodlands Industrial Estate for the development of a funeral parlour complex.
Located at Woodlands Industrial Park E8, the funeral parlour will cover a land area of over 5,000 square metres. Good news for Woodlands residents: the complex will be about 10 minutes walk away from the nearest HDB blocks.
The Woodlands funeral parlour complex will house 10 to 14 wake halls, embalming facilities, and have the option to provide space for related commercial use, the sale of funerary goods and paraphernalia, as well as a florist and a food and beverage outlet.
The funeral parlour complex at Woodlands is expected to begin operations about 4 years after the tender is awarded this November. Over the next decade, NEA will also launch three other sites for funeral parlour complexes at Bukit Batok, Ang Mo Kio, and along Mandai Road.
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