{"id":36585,"date":"2020-09-05T04:21:24","date_gmt":"2020-09-04T20:21:24","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=36585"},"modified":"2022-06-13T17:25:49","modified_gmt":"2022-06-13T09:25:49","slug":"sg-property-news-weekly-roundup-thomson-east-coast-mrt-line-opening-delayed","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/sg-property-news-weekly-roundup-thomson-east-coast-mrt-line-opening-delayed\/","title":{"rendered":"SG Property News Weekly Roundup: Thomson-East Coast MRT line opening delayed"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Property portal 99.co presents the following weekly property news roundup for\u00a0<strong>the week of 29 August to 4 September<\/strong>:<\/p>\n<h2>#1: Stage 2 of Thomson-East Coast MRT line will open later, says Transport Minister<\/h2>\n<p>Due to Covid-19, the completion of the second stage of the Thomson-East Coast Line (TEL) will be <a href=\"https:\/\/www.channelnewsasia.com\/news\/singapore\/covid-19-second-stage-of-tel-to-open-early-2021-delay-13083284\">pushed back by three months<\/a> to early 2021.<\/p>\n<p><strong>The delay, which was revealed in Parliament on 4 September by Transport Minister Ong Ye Kung, involves six TEL stations: Springleaf, Lentor, Mayflower, Bright Hill, Upper Thomson and Caldecott.<\/strong><\/p>\n<p>\u201cThe circuit breaker and phased re-opening since April this year have caused delays to the completion of the Thomson-East Coast Line Stage 2,&#8221; said Mr Ong, who noted the second stage was &#8220;near completion and prioritised for resumption of work.&#8221;<\/p>\n<p>Meanwhile, Ong added that the completion timeline for subsequent phases of TEL can only be assessed at a later date, &#8220;when construction activities have more fully resumed&#8221;.<\/p>\n<figure id=\"attachment_36586\" aria-describedby=\"caption-attachment-36586\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-36586\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/09\/thomson-east-coast-line-map-tel-mrt.jpg\" alt=\"thomson east coast line map tel mrt\" width=\"600\" height=\"422\"><figcaption id=\"caption-attachment-36586\" class=\"wp-caption-text\">Click\/tap to enlarge the TEL route map.<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<h2>#2: Development Charge rates reduced to spur commercial and hotel redevelopment<\/h2>\n<p>The Ministry of National Development (MND) announced a reduction of development charge (DC) rates for the next six-month period of 1 September 2020 to 28 February 2020.<\/p>\n<p>The changes in DC rates is particularly targeted at encouraging commercial revitalisation in the Orchard Road area, which has not only been hard hit by Covid-19 but also seen sales and footfall negatively impacted by the rise of e-commerce. The largest cuts in DC rates, 15% lower from the previous period, were also assigned to the area for commercial and hotel\/hospital uses.<\/p>\n<p>Read the full story by 99.co <a href=\"https:\/\/www.99.co\/singapore\/insider\/government-slashes-development-charge-rates-to-spur-covid-hit-economy\/\">here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2>#3: Queen Astrid Gardens put up for en bloc sale<\/h2>\n<p>After securing 13 signatures out of 16 from the owners of Queen Astrid Gardens, the condo&#8217;s collective sale committee <a href=\"https:\/\/www.businesstimes.com.sg\/real-estate\/gcb-land-in-queen-astrid-park-for-sale-with-s1268m-guide-price\">officially availed the prime District 10 property<\/a> on the market for a guide price of $126.8 million.<\/p>\n<p>An exisiting four-storey development, Queen Astrid Gardens is located on one of the most highly-regarded Good Class Bungalow Areas (GCBAs) in Singapore. The building sits on a 999-year leasehold site measuring 5,782 square metres in total area.<\/p>\n<figure id=\"attachment_36587\" aria-describedby=\"caption-attachment-36587\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-36587\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/09\/queen-astrid-gardens-en-bloc-condo.jpg\" alt=\"queen astrid gardens en bloc\" width=\"600\" height=\"450\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/09\/queen-astrid-gardens-en-bloc-condo.jpg 1000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/09\/queen-astrid-gardens-en-bloc-condo-380x284.jpg 380w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption id=\"caption-attachment-36587\" class=\"wp-caption-text\">Queen Astrid Gardens. Photo: Knight Frank Singapore<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>Besides retaining the land for condo use, successful bidders can also build a single mansion on the sprawling land, or subdivide it into a maximum of four GCB parcels, subject to approval by the relevant authorities, according to exclusive marketing agent Knight Frank Singapore.<\/p>\n<p>The tender for Queen Astrid Gardens closes on 7 October at 3pm. If the en bloc is successful, the owner of each unit stands to receive around $8 million, which ranges from 2,411 to 2,573 square feet. This is more than double the current market price for the units, which ranges from $3.5 million to $4 million.<\/p>\n<p>&nbsp;<\/p>\n<h2>Interested in more property-related news? Follow us on our Facebook page!<\/h2>\n<p>Looking for a property? Find your dream home on Singapore\u2019s most intelligent\u00a0<a href=\"http:\/\/99.co\/\">property portal 99.co<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property portal 99.co presents the following weekly property news roundup for\u00a0the week of 29 August to 4 September: #1: Stage 2 of Thomson-East Coast MRT line will open later, says Transport Minister Due to Covid-19, the completion of the second stage of the Thomson-East Coast Line (TEL) will be pushed back by three months to&hellip;<\/p>\n","protected":false},"author":59,"featured_media":36588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53631,57131],"tags":[54700,54455,53626,56111,54605,53775],"persona":[],"class_list":{"2":"type-post","16":"entry","17":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- 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