Relocation of Paya Lebar Air Base could enhance en bloc prospects of some neighbouring condos: analysts

WITH the relocation of Paya Lebar Air Base (PLAB) and the accompanying lifting of building height restrictions, some resale condominiums in areas around Paya Lebar, Marine Parade and Hougang may stand a better chance at a collective sale, while ageing HDB flats in certain neighbouring towns may be candidates for the Selective En bloc Redevelopment Scheme (SERS), analysts said.

In his National Day Rally speech on Sunday (Aug 21), Prime Minister Lee Hsien Loong highlighted that the relocation of PLAB, due to take place in the 2030s, will free up some 800 hectares of land, making room for 150,000 new public and private homes.

In addition, the shifting of the military air base will result in the removal of building height restrictions around it, allowing for the redevelopment of towns such as Hougang, Marine Parade and Punggol. PM Lee also said that the redevelopment of neighbouring towns could result in the better use of space, as well as the addition of more amenities.