A new housing development comprising 9,000 residential units—about 6,000 HDB flats and 3,000 private homes—will be built on the 48-hectare site of the current Keppel Club in the Greater Southern Waterfront.
The first batch of Build-To-Order (BTO) flats on this site is expected to be highly sought-after and is planned for launch within three years; the Urban Redevelopment Authority (URA) stated that the remaining units are planned for launch in the next three to five years.
The Housing & Development Board (HDB) stated that whether these units will fall under the HDB’s Prime Location Public Housing (PLH) model will depend on factors such as the “project’s locational attributes and market value.”
Minister for National Development Desmond Lee said at a press conference on Tuesday (April 12): “Given the site’s close proximity to the city center, we will bring homes closer to job opportunities. This is part of our efforts to bring more housing options and mixed-use developments to our central region.”
The development plan, first mentioned by Prime Minister Lee Hsien Loong in his 2019 National Day Rally speech, aligns with the government’s long-term plan to transform the Greater Southern Waterfront into a place to live, work, and play; this includes plans to redevelop the former Pasir Panjang Power Station building into a vibrant mixed-use district.
It was not specified at Tuesday’s press conference when these land parcels will be allocated for private residential development tenders. Keppel Club’s 30-year lease on the land ended on Dec 31 last year and has been granted several extensions. The latest extension is until March 31, 2023, to facilitate site clearance and reinstatement. According to the URA’s 2019 Master Plan, the site is zoned for residential use.
The URA stated on Tuesday: “We will carefully calibrate the pace of releasing the supply of residential and commercial spaces and will provide more details when ready.”
When the vision was unveiled in 2019, market observers expressed excitement, with some anticipating that BTO flats there could be priced as high as S$1 million. In nearby Bukit Merah, the median resale price for five-room HDB flats in March was S$750,000; the median resale price for four-room HDB flats in the resale market was S$735,000, according to the latest data from 99-SRX.
Property consultant Leo Kwek stated that prices would vary depending on whether the units fall under the PLH category. Based on the prices of the nearby BTO project Telok Blangah Beacon launched last May, Kwek expects 3-room flats at the Keppel Club site to be priced between S$400,000 and S$450,000, while 4-room flats would be priced from S$720,000 to S$850,000.
He noted that if the site falls under the PLH scheme, prices for three-room units could drop to between S$360,000 and S$405,000, while four-room units could be priced from S$650,000 to S$760,000. Referencing the prices of the River Peaks PLH development launched last November, he said: “Considering the time difference in price releases, this is not far from the River Peaks BTO prices.”
Meanwhile, Kwek predicts that the price of three-room HDB flats will reach between S$400,000 and S$520,000, while four-room HDB flats will be priced between S$600,000 and S$720,000.
He stated that with PLH subsidies, the price of three-room HDB flats would be reduced to between S$380,000 and S$480,000, and four-room HDB flats would be reduced to between S$500,000 and S$700,000.
Kwek expects that some of the upcoming HDB flats in the Greater Southern Waterfront will fall under the PLH model, while others may not.
According to data from the URA’s Real Estate Information System (Realis) platform, in the private residential market near the Greater Southern Waterfront, the upcoming 1,074-unit Avenue South Residence on Silat Avenue has sold 983 units at a median price of S$2,071 per square foot. The project is being developed by UOL Group, its subsidiary United Industrial Corporation, and Kheng Leong Company.
Given the current Keppel site’s proximity to important nature areas such as the Labrador Nature Reserve, the Southern Ridges (including Mount Faber Park, Telok Blangah Hill Park, and Kent Ridge Park), and the coastal habitat Berlayer Creek, HDB will set aside nearly 10 hectares, or about 20% of the site’s area, for parks and open spaces. This includes:
The Central Corridor: A central green park running through the center of the site.
Berlayer Corridor: A 30-meter-wide corridor along Berlayer Creek to protect the existing mangroves.
Henderson Corridor: A linear park along the eastern boundary of the current Keppel Club site, also serving as a bird connectivity path.
The Northern Corridor: A linear landscaped green space connecting the other three corridors.
HDB stated: “Green roofs on low-rise buildings can complement the green spaces and provide additional habitats for butterflies and smaller urban birds.”
Minister Desmond Lee added: “We will engage specialists to develop an environmental management and monitoring plan to reduce and mitigate any environmental impact from the development works.”
The green corridors at Keppel Club will be part of the new Labrador Nature Park Network announced on Tuesday. The Labrador Nature Park Network aims to enhance greenery in the surrounding areas and will consist of over 200 hectares of green spaces, including the Labrador Nature Reserve, Labrador Nature Park, Berlayer Creek, and Pasir Panjang Park, as well as mature secondary forests along the Southern Ridges.
To protect the Labrador Nature Reserve and its core areas from the impact of development, the National Parks Board will introduce several new green spaces along Alexandra Stream, Berlayer Creek, and King’s Dock. NParks will also expand a waterfront area at Pasir Panjang Park. Together with the new parks at the current Keppel Club site, there will be a total of over 25 hectares of new green spaces.
To ensure its development plans take into account the surrounding terrestrial and coastal environments, the Ministry of National Development conducted an Environmental Impact Study (EIS), which has been published on the HDB’s website.
Minister Lee encouraged the public to provide feedback on the EIS report within the four weeks leading up to May 11.
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