Media Circle will be able to meet housing demand through the addition of additional homes

The Urban Redevelopment Authority (URA) in a news release on Friday (3 May) update, said that land zoned for use as an office park in Media Circle could soon be reserved for new homes.

A parcel of land located opposite Infinite Studios in one-north, which was originally set aside for use as a business park, is being proposed for residential development with commercial use on the upper storey. The squarish parcel that lies between Media Walk and Media Circle is proposed to have a plot ratio of 3.7.

A parcel of land in an irregular shape, that is mostly white, could be used for both commercial and residential uses. However, careful planning is needed.

Authorities may assign a plot-ratio of 4.3 to a different parcel on Portsdown Avenue for both residential and commercial use. A fourth parcel in the vicinity is being planned to be used for residential purposes only.

URA declared: “The proposed residential high-density developments will help meet the growing demand for housing and will enhance one-north’s status as a vibrant, mixed-use district.”

More details about the development plans for the site will be released once ready.

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Nicholas Mak, chief research officer at Mogul.sg has stated that Media Circle had been envisioned as a business park serving the media technology industry about 20 years ago.

The zone is a bit away from the nearest MRT station as well as residential housing estates, he said.

Media Circle has seen an increase in the number of residential lots that are available through the Government Land Sales Programme.

Qingjian Realty & Forsea Residence was awarded the rights to a 10,632.1-square-metre plot in February, for S$395,000,000 or S$1,191 per square foot for the plot ratio. Another site located next to Infinite Studios is expected to be completed in May and will yield approximately 515 units.

The Hill @ One North has sold 43 units during its first day of sales in April 2024. It was the last time that a new development was introduced in the one-north. The units were sold at an average cost of S$2,595 per square foot. The property was purchased by Gao Xiuhua, one of the owners of Kingsford Development, for S$162.4 million or S$1,210 psf ppr in 2021.

Christine Sun, OrangeTee Group’s chief researcher, strategist and researcher, said: “Demand has been high for private homes in the one-north region. One reason for this may be due to the district’s close proximity to schools like NUS (the National University of Singapore), Singapore Polytechnic as well as NUS High School, as in addition to its proximity to the business precinct of one-north and the Science Park business area.

These factors make One-North an appealing place for prospective buyers or tenants who study or work there.

Lee Sze Teck, Huttons director of data analytics, said the number of houses available in one-north could have lag demand, resulting in stronger rental growth in that area as compared to Dover close by.

He stated that the estimated number of units on site could be more than 1,500.


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