URA Gazettes Master Plan 2008

Alas, the Urban Redevelopment Authority (URA) of Singapore has finally gazetted the Master Plan 2008. The draft version of the plan has been online since months back and has already interestingly piped the way that our country will be shaped the next 10 years.

Sunrise from The Sail on 34th floor, construction of Sands Integrated Resort

Sunrise from The Sail on 34th floor, construction of Sands Integrated Resort (photo credit:Tom Bodley)

If you have trouble understanding what is Master Plan from URA, here’s the official textbook definition

“Statutory land use plan that guides physical development of the country for the next 10 to 15 years”

It’s law for developers and anyone that has got to do with land, buildings in the next 10 – 15 years according to the plan.

The online version of Master Plan 2008 was much better than the former 2003 in terms of use. Much clearer when you can actually search for the specific place rather than zooming in to look at the map. I like this change particularly ;)

Plot Ratio Change? Nay

Well, not much plot ratio change has been introduced as compared to former MP 2003. The focus for this plan is to introduce 3 regional hubs into our heartland,  Jurong Lake District, Kallang Riverside and Paya Lebar Central.

I’m no good forecaster, but should this three hubs be established decently and effectively, we can probably see plot ratio increase for buildings that are around the new circle line entrances of new stations that is springing up around the hubs in the next MP 2013.

What’s Gonna Happen In 5 Years Time?

I’ve actually seen work already happening and working around my residential area in Geylang. Part of the leisure plan for water body has already started since months back. We’ll expect to see the landscape of our country changed yet again for the better.

I can’t see any reason why this plan could fail with the successes of the previous MPs, that said with the additional help not only from planners but even the public floor, where 300 feedbacks were taken into serious consideration after the draft Master Plan 2008 exhibition was up since 6 months ago.

Live. Work. Play.

Singapore will evolve for the better. I’m excited with the new changes coming up, are you?

Written by Benson Koh
Benson Koh is a professional real estate realtor with over 11 years of experience specializing in all forms of real estate consultancy and brokeraging of different segments from regal homes to commercial spaces. Also a boutique developer, he manages bothSRI5000 Developments which concentrates on landed homes as part of his land bank segment and Singapore Realtors Inc (SRI), a real estate agency which has over 7 years of group experience. You can reach him here via various channels. [ Facebook | Linkedin | Twitter | RSS Feed ]