Redesigning the property landscape

AN upcoming commercial and residential development at Jalan Anak Bukit by Far East Organization and sister company Sino Group is expected to act as a catalyst to rejuvenate the Beauty World precinct, injecting a much-needed dose of vibrancy.

The duo snagged the 99-year leasehold site for S$1.028 billion (about S$989.4 per square foot) via a recent state tender, in which requirements by the Urban Redevelopment Authority (URA) spelled out the need for facilities such as an integrated transport hub with a bus interchange as well as civic and commercial spaces.

While similar requirements have cropped up in government land sales in the past, analysts say that developers are increasingly weaving in greenery, communal spaces and eco-infrastructure in their projects, as issues such as climate change and a rapidly ageing population are brought to the forefront. These could add up to 20 per cent to project costs, according to a survey.