A vibrant neighbourhood that buzzes with activity – where people love to live, work and play - does not happen by chance. It takes the concerted effort and foresight of multiple stakeholders, including the urban planners and developers, to articulate their vision for the precinct, and to embark on initiatives to shape and enliven the neighbourhood.
REDEVELOP AND REDEFINE OUTRAM
Located on the fringe of the Central Business District, the Outram planning region which comprises four subzones – Pearl’s Hill, People’s Park, China Square and Chinatown – is a real estate gem with extensive redevelopment potential.
Outram has all the makings of a dynamic and exciting neighbourhood in the future.
1. Room for more homes
There are limited sites for housing development in the Outram planning region, with the majority of residential plots sited in the Pearl’s Hill subzone, including the iconic Pearlbank Apartments which has been put up for collective sale.
According to the URA Master Plan 2014, there are three more sites around Pearlbank Apartments that have been earmarked for residential development – two with a Gross Plot Ratio of 3.5 and one at 7.4. These future developments will potentially provide thousands of new homes, attracting new households to the area and renewing the Outram district in the process. The influx of new residents will provide critical mass to support businesses in the vicinity and strengthen the “live” element in the “live, work, play” concept.
2. Rail connectivity
Located in the heart of the city, the area is well-served by the Outram Park MRT Interchange, which is linked to the East-West Line and North-East Line. The commute to the CBD – which is only two stops away - takes just minutes via the Outram Park MRT station on the East-West Line.
The Outram Park MRT station will also be linked the upcoming Thomson-East Coast Line (TEL) which will open in phases starting from 2019. The TEL will connect Outram Park to numerous lifestyle and recreational attractions, such as Orchard Road (three stops), Marina Bay (three stops) and Gardens by the Bay (five stops).
3. Road connectivity
The Central Expressway (CTE), which links the city to districts in the north of Singapore, is also a stone’s throw away, offering easy access to the glitzy malls in Orchard Road, as well as established housing estates Ang Mo Kio, Bishan and Toa Payoh.
4. Lifestyle and entertainment
5. Healthcare & Wellness hub
The healthcare and wellness hub is being transformed in stages over 20 years to expand the capacity to handle more patients and to meet the nation’s future healthcare needs. Among the new developments, a 550-bed community hospital is slated to open by 2020 which will serve patients who no longer need acute care.
Outram, with its comprehensive healthcare and wellness amenities, as well as excellent connectivity will also be a prime location for senior living – a burgeoning investment and development market, as a large cohort of baby boomers approach retirement.
Senior housing is an emerging real estate trend which will continue to grow in the coming years as retirees and the elderly have more sophisticated healthcare and housing needs. Demand will be also fueled by the rising awareness of healthcare and wellness benefits, and retirees having the financial capacity to take advantage of senior living services and facilities.
6. Cycling network
7. Lush greenery
Find peace and respite in the idyllic 9-hectare Pearl’s Hill City Park located behind the Outram Park MRT station. Built around a reservoir, the hilltop park offers a breather from the busy city life.
CAPITALISE ON THE TRANSFORMATION
The transformation of the Outram precinct presents a rare opportunity for developers to shape a prominent and historic locale in Singapore. The district has all the necessary ingredients to become a vibrant and attractive neighbourhood, anchored by a growing and diverse community.