Property consultants differ on impact of future new districts

Singapore

PROPERTY consultants are mixed in their views on whether the planned development of Punggol North and Kampong Bugis will have a significant impact on property prices and rents.

While most expect industrial rents in Punggol North to be higher given the expected broader range of allowable uses and better facilities, they are not singing the same tune for residential prices.

Their comments came on the back of Minister for National Development Lawrence Wong's announcement in Parliament on Tuesday that Punggol North is designated as Singapore's first "Enterprise District" where new planning concepts will be tested out. It will focus on cybersecurity and digital media industries.

JTC, the appointed master developer for Punggol North, will have flexibility to develop the district based on land use and gross plot ratio guidelines at the dist…