Although Singapore is in recession, the government has already laid plans to take advantage of the next economic upturn.

JTC Corporation will be intensifying its existing International Business Park´s (IBP) developments and is going ahead with its extension plans as there is strong demand for its business park space.

JTC envisages that strong demand will continue into the next economic upturn, coupled with IBP´s close proximity to industrial estates in the west and the upcoming commercial precinct called Jurong Gateway in the Jurong Lake District.

“With the recent announcement by the Urban Redevelopment Authority (URA) on the plans for Jurong Lake District, it is timely and necessary for JTC to review the IBP masterplan and carry out a facelift to improve and intensify IBP. There is potential to create synergy between IBP and the proposed developments in the Jurong Gateway, the commercial precinct of the Jurong Lake District,” said JTC in a statement.

When developed, the land parcels along IBP´s southern boundary will generate about 5 ha of land and about 125,000 sq m of business park space.

The business park is one of the many developments under the Jurong Lake District blueprint which has been identified as a new growth area outside the city centre, unveiled by the URA in April 2008 as part of its Master Plan 2008.

URA´s blueprint aims to decentralise commercial and leisure activities out of the central area to reduce commuting, cater to businesses and create job opportunities closer to homes.

To support the district´s development, a new spinal road will be built, Jurong East MRT interchange will be expanded and the bus interchange will be redeveloped.

The road network in IBP will be improved by creating two road linkages to direct traffic within IBP onto expressways, AYE and PIE.

A dedicated egress point from IBP onto Jurong Town Hall road will direct the traffic to AYE, while a new road to Boon Lay Way will direct traffic to PIE.

There will also be road improvement works at residential estates in the district, Faber Terrace and Faber Hills, to improve the current traffic situation there.

This will allow for more quality low and medium-density housing fronting Sungei Ulu Pandan to be built in future to support the district´s growth.

Other residential areas that surrounds the district such as Teban Gardens and Pandan Gardens will also be rejuvenated to provide attractive waterfront housing.


Source : www.property-report.com