Following the announcement that construction works on Bidadari new town will begin by year-end, developers are eyeing new opportunities at other prime residential sites in strategic locations.
According to analysts, thousands of homes are in the pipeline over the next few years, as prime sites not far from the city will be launched, including the Dempsey area and former Bukit Timah Turf Club, as well as Old School at Mount Sophia, Tanglin Village and Caldecott Hill.
Meanwhile, the government has announced that infrastructure works at Bidadari, which includes roads and sewers, will start at the end of the year.
Located near Potong Pasir, Bidadari is expected to yield around 12,000 public and private homes in the next ten years.
According to a spokesman for the Ministry of National Development (MND), the first Build-to-Order (BTO) flats may be launched as early as 2015, depending on demand. As a result, public flats could be completed by around 2018, noted consultants.
The decision to develop Bidadari is part of a twin approach that aims to address the strong housing demand and intensively use land in existing estates.
Consultants are optimistic that interest for homes in Bidadari will be strong, given its proximity to the city centre. In fact, Bidadari is compared to Bishan, which was also a former cemetery but has now become one of the most popular HDB estates.
In addition, Bidadari is close to two MRT stations, Bartley on the Circle Line and Woodleigh on the North-east Line.
Source : PropertyGuru - 30 May 2012