New Launch Review – Pasir Ris 8

Goh Weihan
Goh Weihan

NextDestinationHome

Slated as the mega-development of 2021 and one of the focal points of the Pasir Ris Transformation and Rejuvenation plan –  Pasir Ris 8 is the only fully-integrated mixed-development with a bus interchange and 4 MRT Lines.

In our opinion, one of the best ways to analyze the value of a development is to understand the actions of the Government on the ground.

Rejuvenation

Just last month, it was announced that the government will plow almost 1 Billion into the development of the Pasir Ris station

The last BTO launch in Pasir Ris was in 2011 and in 2017, The Straits Times reported that 2,000 units of public housing is slated to be built. For the upcoming BTO launch – Costa Grove, we will already see approximately 50% of the quantum filled, signifying the Government’s intensified intentions to bring the younger generation to this location. 

Communal spaces will also be refreshed and developed with a sports hub and hawker centre right beside the MRT station.

Taking reference from the development of Punggol / Sengkang over the last couple of decades, the government’s actions definitely have huge significance and are clear in their direction for a major transformation.

Transformation

To make a location desirable, the infrastructure will be prioritized and the current obvious transformation would be the improved road network connectivity to Punggol and the ongoing works to connect the expressways in the vicinity. 

Taking the entire North-East region’s development as a whole, looking outward to the neighbouring towns, we have Changi developing it’s Aviation Park, Changi City

Punggol will continue to develop into the Digital Hub.

The Industrial spaces between Hougang, Defu, Tampines and Pasir Ris will be redeveloped and modernized.

Two technology driven and specialised, knowledge-based universities SIT and SUTD will also be added.

With all these developments in place, we are going to expect a lot of highly qualified specialists coming into Singapore to provide expertises, educate and develop the capabilities of the local workforce to be employable for these highly specialised industries.   

All of these developments connected with Pasir Ris as the main hub!   

Potential

Scarcity

Referencing back to the URA Master Plan, there is potentially no more land gazetted for private residential and with the private enclave being close to 400m away, Pasir Ris 8 definitely stands out.

For the Investor

Pasir Ris used to be known mainly for rental of the aviation industry. However now with the development of the east, rental rates and demand will most likely be well supported by the highly educated and well paid executives.

For the home-owner

As Singaporeans, we believe many enjoy the convenience of food options and connectivity via MRT and definitely appreciate accessibility to parks and beaches. 

What takes the cake for us though is the potential connectivity to Changi airport. Due to the pandemic, we may have forgotten our dreams of travelling the world but we believe a few years down the road we might be able to enjoy air-travel once again and Pasir Ris may potentially be just 5 MRT stations away from the airport!

In closing, Pasir Ris in general will definitely undergo a massive transformation and become a much more desirable place to reside in and should appeal to both investors and own-stayers alike.

If you would like a more in-depth understanding of this development, contact us, otherwise, we will settle for a like and share!

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