Media Circle to expand housing supply by building more homes

Analysts report that housing demand is strong because it’s close to schools and Science Park.

Media Circle, which was zoned for a business park, may be rezoned to allow for the construction of new homes soon. This is according to an update issued by the Urban Redevelopment Authority Friday (May 3).

A plot of land in One-north opposite Infinite Studios that was previously set apart for business parks is now proposed for residential use with commercial space on the top floor. The square plot bounded by Media Walk Circle is to be developed at a ratio of 3.7.

Portsdown Road has an irregular-shaped parcel of land, a large part of which is white. It’s proposed to be residential, with some commercial uses, but it is still subject to detailed planing.

The authorities could assign a 4.3 plot ratio to another parcel along Portsdown Avenue. It would be designated for residential and commercial uses. A fourth parcel near the proposed site is for residential-only use.

The URA recommended the proposed high density residential developments to support housing demand and enhance one-north as a vibrant mix-use district.

The site development plan will be released when it is complete.

Media Circle, a business park for the media-technology industry, was first envisioned in about 20 Years.

He said that although the MRT and housing estates are close, it’s still a good distance from this area.

Media Circle is a place where more and more residential sites are being released in recent years under the Government Land Sales Programme.

Qingjian Realty received the award in February, for S$395M. This is S$1,191/sqft/plot ratio. Infinite Studios, a new site located next door to the studios is expected to open in May. The site is estimated to have 515 residential units.

The Hill @ One North launched its last new project in the One North area in April 20, 2024. The Hill @ One North had sold 43 apartments on the first sales day. The units were sold on average at approximately S$2,595/sqf. Gao Xiuhua was one of Kingsford Development’s owners and bought the property for S$162.4million, or S$1,210 psf ppr, in 2021.

The one-north region has experienced a high demand for residential properties. One possible reason could be that the area is near schools such as NUS and Singapore Polytechnic as well the Science Park area and the one north business precinct.

One-north has many of these factors that make it a great place to live for people who are interested in renting or buying a home. Also, it is noted that one-north could have lagged in the supply of housing compared to demand. As a result, rental growth was higher than Dover. The estimated total number of units on the site could exceed 1,500..

Kassia showflat will be the next highly anticipated last freehold plot in Flora Drive. It will preview in Q3 2024.

Book an Appointment

Kindly Fill up the form to Enjoy Direct Developer Price & EXCLUSIVE Showroom Viewing!

Please enable JavaScript in your browser to complete this form.
Agreement Terms
error: Content is protected !!