Almost 18,000 residential units in Punggol have been completed by the beginning of this month with another 9,400 under construction.
And subject to demand, the Housing and Development Board (HDB) is on track to complete 35,000 flats by the end of 2015, making Punggol similar in size to Toa Payoh.
The updates were given yesterday by Senior Minister of State for National Development Grace Fu at the Punggol, Remaking our Heartlands exhibition.
Ms Fu said that as Punggol’s population attains critical mass, new facilities can and will be added.
The first mixed commercial-cum-residential development site at Punggol’s town centre will be launched later this year.
Later this month, a premium HDB project – under the Build-To-Order (BTO) system – will be launched.
Situated along Punggol Waterway, it will offer waterfront living and boasts eco-friendly features such as large courtyards and openings to promote natural ventilation and airflow to flats and common areas.
Ms Fu said it targets a niche group of buyers who are prepared to pay more for its signature attributes such as prime location and groundbreaking design with vantage views.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said the mixed commercial cum residential development will be welcome as Punggol lacks a regional commercial centre.
“There will be a gradual appreciation of property there,” he said.
The waterfront project however will not turn Punggol into a Sentosa Cove nor a Pinnacle, said Mr Mak.
“Sentosa Cove is some 2,800 landed houses, it faces the Southern Sea and has a marina. Punggol Waterfront faces a canal, a short stretch of water and the Straits of Johor.”
PropNex’s Mohammed Ismail said the project is an exciting lifestyle concept, a “mini Sentosa in the backyard”.
Meanwhile, Ms Fu said two other BTO projects will also be launched in Sengkang, providing choices for flat buyers with different budgets and preferences.
She also said it is important for a new town like Punggol to foster its identity by heightening awareness of its rich heritage which dates back to the early days of Singapore.
Source: Today, 23 Jun 2010