Pasir Ris Central Mixed Use Development Awarded To Allgreen Properties & Kerry Properties
The residents in Pasir Ris have much to rejoiced after waiting for more than 3 months since the tender for Pasir Ris Central white site was closed on 14th December with only 3 bidders.
Phoenix Residential Pte. Ltd. & Phoenix Commercial Pte. Ltd have been announced by the Housing & Development Board (HDB) as the winning bidder for the mixed used development at Pasir Ris Central.
Located next to the existing Pasir Ris MRT station (EW1), the development will have a commercial and residential component which is integrated with the future bus interchange. There will also be a new polyclinic, town plaza with its open spaces and pedestrian friendly pathway serving as a community focal point.
Pasir Ris Central Mixed Use Development Plays an Integral Part in Pasir Ris Transformation
Concept Plan for Pasir Ris Central White Site
The HDB adopted a Concept and Price Revenue Tender system to shortlist quality development concepts that fulfil its strict evaluation criteria – Quality of Design Concept, Quality of Public Realm and Track Record.
All tenderers were given the opportunity to present their proposals to the Concept Evaluation Committee (CEC). After careful evaluation, the CEC shortlisted two of the three Concept Proposals submitted that substantially satisfied the evaluation criteria. The two tenders that proceeded to the second stage of tender evaluation are as follows:
- $699,999,999 by Phoenix Residential Pte. Ltd. & Phoenix Commercial Pte. Ltd.
- $677,777,000 by Laguna Garden Limited and Far East Commercial Trustee Pte. Ltd. (in its capacity as Trustee-Manager of Far East Commercial Trust
Allgreen and Kerry submitted the highest bid of $699,999,999.99 which is 3.28% higher than the $677,777,000 put forth by Far East Organisation. Based on the maximum Gross Floor Area (GFA) of 1,022,678 square foot, the land cost works out to be $684.48 psf per square foot.
Phoenix Residential Pte. Ltd. & Phoenix Commercial Pte. Ltd are wholly owned by Allgreen Properties (Allgreen) and Kerry Properties (Kerry). Both companies are linked to Robert Kuok who is a prominent businessman from Johor Bahru, Malaysia.
Apart from having a commercial component, the mix used development is required to feature a residential component, polyclinic, MINDEF PUDO, child care centre and a town plaza. After setting aside the space for non-commercial purposes, the developer could potentially maximise the commercial space at an estimated 35% of the GFA.
Cross Island Line in Pasir Ris Central
The Pasir Ris mixed use development will be integrated with the future Cross Island Line (CRL) to provide a seamless connection to public transportation and amenities for the residents.
Targeted to be completed by 2030, CRL will offer commuters in Pasir Ris an alternative to the existing East-West Line and connect to other major lines to serve as a key transfer line. Besides linking residents to key business areas, the CRL will serve the upcoming smart town Punggol Digital District, which will includes the Singapore Institute of Technology’s new campus.
Remaking of Heartland (ROH) in Pasir Ris
HDB announced in April 2017 that some 2000 units of public housing will be built in Pasir Ris which will be integrated with the proposed Central Greenway. There will be dedicated cycling and pedestrian paths to provide direct connection to Pasir Ris interchange and Pasir Ris Park.
Under the ROH programme, there will be upgrades for four existing neighbourhood centres, Pasir Ris West Mall and Elias Mall. The ROH programme aims to improve the last mile connection to public transport and infrastructure through the construction of sheltered pathways from strategic points to provide a seamless connection.
Pasir Ris estate certainly looks exciting with a slew of investments from Government on upgrading the town and construction of Cross Island Line and investments from private sector for new amenities. With such strong public and private investment, the property prices of Pasir Ris will be heavily supported and improve over the next 10 – 15 years.
Learn More About Allgreen Properties & Kerry Properties
Kuok Brothers started in 1949 as a small family business trading rice, sugar and wheat flour in Johor Bahru. As the brothers expanded within the region, they setup the Singapore and Hong Kong office in 1953 and 1974 respectively. The Kerry Group now oversees the company’s operations in Hong Kong and Mainland China.
Over the years, the Kuok Group has grown from strength to strength and become one of Asia’s most dynamic multinational conglomerates, with operations spanning across six continents. Guided by the values of Robert Kuok, the Group’s founder, their corporate culture is built on perseverance, loyalty, and integrity above all.
Allgreen Properties Limited
1 Kim Seng Promenade
#07-01 Great World City
Tel: +65 6733 2822
Fax: +65 6738 3800
Allgreen Properties Limited (Allgreen) is an established property developer in Singapore with over 40 completed developments. The 476-unit Fourth Avenue Residences which sits above the Sixth Avenue MRT station (DT7) in District 10 was launched by Allgreen Properties in January 2019.
The Fourth Avenue Residences is part of a larger vision called Bukit Timah Collection, which include former sites Crystal Towers and Royalville.
Allgreen also owns and manages the Great World City shopping mall located next to the upcoming Great World City MRT station. Being forward looking, Allgreen has started revamping the Great World City to prepare itself for the increased traffic once the Thomson-East Coast Line Phase 2 is complete in 2022.
Kerry Properties Limited
25/F Kerry Centre
683 King’s Road
Quarry Bay Hong Kong
Tel: +852 2967 2200
Fax: +852 2967 2900
Guided by the principle of aspiring to excellence, Kerry Properties is a world-class property development company with significant investments in key cities in the People’s Republic of China and Hong Kong. In both markets, Kerry Properties focuses on investing in premium quality property developments in prime locations. Beyond the developments, the Group continues to serve clients by offering professional management and a range of value-added services and diverse privileges.
Pasir Ris Central Mixed Use Development a Strategic Acquisition for Allgreen Properties
Based on Singstat 2018 report, the total population in Pasir Ris is 146,920 residents with almost 60% in the working age group of 25 years old to 64 years old. The other sizeable age group segment is 5 years old to 24 years old which stands at 26.68%. These two segments provide a strong baseline for demand in consumption for goods and services.
HDB intends to add about 2,000 new homes in Pasir Ris as part of the ROH. Based on the average household size of 3.24 in Singstat 2018 report, this will translate to about 6,480 new residents when HDB completes the 2,000 new homes.
With 257,110 residents in Tampines town, the existing infrastructure and amenities are probably stretched to its maximum utility when the new BTO flats in Tampines North and private residential homes such as Treasure at Tampines complete over the next several years.
In line with the Government’s plan to decentralise business activities in the city centre, Punggol Digital District was conceptualised to be a technology hub for education and innovation. It is expected to created 28,000 opportunities for employment and 12,000 students when matured.
With a large base of young residents, the Pasir Ris town is a suitable candidate to support the Punggol Digital District and will benefit from a direct connection via the upcoming Cross Island Line. The Pasir Ris Central mixed use development will also benefit from such a vibrant transport network which is likely to see more visitors from Punggol Estate. Overall, i think Allgreen Properties landed themselves a crown jewel in Pasir Ris.