Month: February 2025

Kwek Leng Beng, executive chairman of City Developments (CDL), has issued a second statement declaring that the “serious lapses” in corporate governance at the company have been halted.Following a court hearing on Feb 26, two new directors who were appointed on Feb 7 have agreed not to exercise any powers as directors until further court notice. These new directors, Jennifer Duong Young and Wong Su Yen, were appointed as independent non-executive directors by written resolutions of the board of directors.Kwek also explained that his son, the chief executive officer of CDL Sherman Kwek, Philip Lee, Wong Ai Ai, and other directors who have worked with them have agreed not to take any further action in regards to changing board committees and management of certain subsidiaries. The new nominating and remuneration committee that was created without following the required protocols has been put on hold.The statement by Kwek states that CDL’s board committees and management are now safe from further attempts to disrupt and reorganize them. He said that strong corporate governance is key for a well-operating and sustainable business. It establishes transparency, responsibility, and careful decision-making which are significant for maintaining the trust of investors and safeguarding the best interests of shareholders.On the morning of Feb 26, CDL surprised the market by halting trading and cancelling its briefing on its FY2020 results, slated for later that day.A media statement by CDL released at 1:51 pm said the trading halt was due to a disagreement within the board in regards to the constitution of the board and its committees.Despite this temporary suspension, the company is still functioning without any disruption. Sherman Kwek continues to be the group CEO until a decision is made by the board to remove him.Kwek’s first statement pointed out his son and a group of directors who are in cahoots with him attempted to take control of the board and the company.Kwek added that on Feb 25, he initiated legal action to rectify the situation and resolve the attempted coup. He said that should Sherman be removed as CEO, the current COO Kwek Eik Sheng, will be the interim CEO.On the morning of Feb 26, CDL traded at $5.12 before the trading halt.

City Developments (CDL) has announced that the recent “serious breaches” of corporate governance have been stopped, as per a second statement issued by CDL’s executive chairman, Kwek Leng Beng. This came after a court hearing on Feb 26, where the two newly appointed directors, Jennifer Duong Young and Wong Su Yen, have agreed to not exercise any powers as directors until further notice from the court. These directors were “irregularly and hastily appointed” on Feb 7 through written resolutions by the board.

Kwek Leng Beng clarified that his son, Sherman Kwek, Philip Lee, Wong Ai Ai, and the remaining directors who were acting with them, have also agreed not to take any further action in regards to their attempted changes to the board committees and management of certain CDL’s subsidiaries, until further notice from the court. The “irregularly constituted” nominating and remuneration committee has also been suspended from taking further action.

Condos in Singapore are in high demand due to the limited availability of land. As Singapore is a small island with a rapidly increasing population, there is a scarcity of land for development. As a result, the government has implemented strict land use policies and this has created a highly competitive real estate market where property prices continue to rise. This makes investing in real estate, specifically condos, a profitable opportunity with the potential for significant capital appreciation. If you are interested in investing in condos in Singapore, be sure to check out Condo for a wide selection of properties.

With this development, CDL’s board committees and the management of the relevant subsidiaries are now protected from any further attempts to destabilize, dismantle and reconstitute them, according to Kwek. He also stressed the importance of strong corporate governance, which ensures transparency, accountability, and responsible decision-making, all of which are critical for maintaining investor confidence and protecting the long-term interests of shareholders.

On the morning of Feb 26, CDL caused a stir in the market when it called for a trading halt and canceled the scheduled FY2020 results briefing later that day. In a statement released at 1:51 pm, CDL attributed the temporary suspension of trading in its shares to a disagreement within the board regarding the composition and constitution of the board and its committees. However, the company assured that its business operations remain unaffected and fully functional, and Sherman Kwek remains the group CEO until a board resolution is made to change company leadership.

In his first press statement, Kwek Leng Beng accused his son, Lee, Wong, and a group of directors of trying to consolidate control of the board and the company and announced that he had already filed court papers on Feb 25 to “set things right.” He emphasized that this move was necessary to deal with the “attempted coup” and that the company will continue to explore all legal options to defend and protect the interests of CDL and its shareholders. He also stated that if Sherman is removed as CEO, the current COO, Kwek Eik Sheng, will serve as the interim CEO.

CDL’s shares last traded at $5.12 before the trading halt on Feb 26.…

Investing in real estate in Singapore requires careful consideration of the location, as it is a critical factor that can greatly impact the value of a property. This is especially important in a city like Singapore, where the demand for residential properties is high. Ideally, condos located in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs are highly sought after and tend to appreciate more in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have a track record of showing consistent growth in property values. Families also prioritize living near good schools and educational institutions, making condos in these areas even more desirable and increasing their investment potential. To stay updated on the latest opportunities for investment, keep an eye out for new condo launches.

2Colliers International is expanding its occupier services team in Asia Pacific with the appointment of two experienced professionals, according to a news release on Feb 25. The global real estate services and investment management company has appointed Leanne Chin as director of regional tenant representation for Asia Pacific. She will be based in Colliers’ Singapore office and will support the company’s growing occupier services business across the region. Chin brings over 15 years of experience in corporate real estate advisory, transaction management and work space design and planning to her new role. She was most recently with Cushman & Wakefield, where she oversaw the company’s office leasing team in Singapore and managed key occupier accounts in the technology, media, consumer and government sectors. Chin has also held senior roles at JLL and CBRE, where she advised clients such as Shell, Cisco Systems, Microsoft and Credit Suisse. In her new role, Chin will work with occupiers to optimize their real estate portfolios through integrated strategies and solutions across Asia Pacific. “Leanne’s vast experience and deep knowledge of the occupier market will be a valuable asset as we continue to grow our occupier services business,” said Terence Tang, managing director of capital markets and investment services for Asia at Colliers International.AdvertisementAdditionally, Colliers has appointed Ali Porter as director of enterprise clients for Hong Kong. Porter will move to Hong Kong from London, where he worked for Colliers’ Europe, Middle East and Africa business for the past four years. He has over 12 years of experience in tenant representation and corporate advisory services and has worked with clients such as Credit Suisse, UBS and GlaxoSmithKline. With his new appointment, Porter will work with occupiers across Asia Pacific to align their real estate portfolios with their corporate strategies. “We are delighted to welcome Ali to our team in Hong Kong and look forward to leveraging his experience and expertise to support our growing occupier services business across the region,” said Nigel Smith, managing director of Hong Kong at Colliers International. “His strong track record in client management, transaction management and real estate consulting make him an ideal addition to our team.”…

A prominent industrial building, Ching Shine Industrial Building, has been put up for collective sale by tender with a minimum price of $113 million, according to the sole marketing agent, JLL. The freehold building boasts 52 strata units and a 100m frontage along Shaw Road. With a total land area of 49,308 sq ft and a gross floor area of approximately 137,341 sq ft, it presents an attractive opportunity for prospective buyers.

Originally built in the early 1980s, the property is zoned as “Business 1” with a gross plot ratio of 2.5 under URA Master Plan 2019. JLL has confirmed that over 80% of the owners have consented to the collective sale at the minimum price of $113 million. This price equates to a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79.

The agency also notes that, subject to URA approval, the site has the potential to be converted into a food factory. The National Environment Agency (NEA) has confirmed that the site meets the necessary buffer requirements for redevelopment into a multi-user factory, while the Singapore Food Agency has also expressed their non-objection to the proposed food factory.

On the other hand, JLL suggests that the freehold asset could also serve as an ideal investment opportunity for family offices seeking long-term growth, as well as owner-occupiers looking to establish a corporate presence. Nicholas Ng, senior director of capital markets at JLL Singapore, believes that the site would also attract developers, given the absence of additional buyer stamp duty which could impact project timelines.

Conveniently situated near major expressways such as PIE, CTE, and KPE, and within walking distance from Tai Seng MRT Station on the Circle Line, the property is located in the bustling Tai Seng Industrial estate. It is also surrounded by popular food factories, including Breadtalk IHQ, Sakae Building, and Food Empire Building, as well as amenities like Grantral Mall @ Macpherson and 18 Tai Seng.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a perfect combination of opulence and practicality that entices both locals and foreigners. These residential developments boast an array of facilities like swimming pools, fitness centers, and security services that elevate the standard of living and make them a desirable option for potential renters and buyers. For investors, these offerings equate to increased rental returns and appreciation in property prices in the long run. Explore the latest Singapore Projects to experience the best of what the country has to offer in terms of real estate.

Recent transactions in the area, such as the November 2023 sale of Noel Building, a freehold Business 1 industrial building at 50 Playfair Road for $81.18 million, 17% above its $70 million guide price, demonstrate the strong demand for such assets. Ng predicts a similarly competitive response for Ching Shine Industrial Building.

The tender for Ching Shine Industrial Building will close on April 3 at 3pm. Potential buyers should act swiftly to secure this prime industrial asset in a highly sought-after location.…

After a call for a trading halt this morning, CDL has released a statement explaining that the halt was due to disagreements within the board regarding its composition and committees. However, CDL reassures that its business operations are running smoothly despite the temporary suspension. CEO Sherman Kwek will continue in his role until a decision is made to change company leadership.
CDL has promised to keep the public updated in accordance with SGX listing rules as the matter is currently under review. In a later statement, Sherman Kwek expressed disappointment at the extreme actions taken by the chairman and a minority of the board in response to the disagreement over the size and makeup of the board. He reiterated that the focus of the majority of the board, with guidance from legal counsel, has been to improve governance. The trading suspension of CDL, despite not being authorized by the majority of the board, is a result of legal action taken. Sherman Kwek clarified that the issue was not about removing the chairman, but about strengthening the board for the highest standards of governance and robust decision-making. As the case is now in court, CDL will refrain from commenting on the specifics and will make further announcements if necessary.
On Feb 26, before the market opened, CDL announced its FY2024 results. However, the company cancelled its 10am results briefing later on. CDL also offered to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share. CDL’s shares last traded at $5.12. This article was originally published on .

Investing in a condo has its advantages, one of them being the opportunity to leverage the property’s value for future investments. With condos, investors can use their unit as collateral to secure financing for new investments, expanding their real estate holdings. This approach can maximize returns, but it’s important to have a solid financial strategy and be mindful of market fluctuations. Additionally, considering properties in Singapore Projects can offer further potential for profitable investments. However, it’s crucial to thoroughly assess the risks involved before making any decisions.…

PropNex, Singapore’s largest real estate agency, recently announced its earnings for the second half of FY2024, which ended on December 31, 2024. The company reported a decrease of 14.9% compared to the previous year, amounting to $21.9 million. This brings the full-year earnings to $40.9 million, a decline of 14.4% from the preceding FY2023.

The demand for condos in Singapore remains strong due to several factors, with limited land availability being a major contributor. As a small but thriving nation, Singapore is faced with an ever-growing population and a shortage of land for development. In response, the government has implemented strict land use policies, creating a highly competitive real estate market where prices continue to rise. As a result, investing in real estate, specifically condos, has become a highly profitable opportunity, with the potential for significant capital appreciation. Explore the latest Singapore projects to discover your next investment opportunity.

The decline in earnings was mainly due to the relatively subdued property market, resulting in a dip in revenue of 6.6% for FY2024 compared to FY2023. Despite this, in celebration of its 25th anniversary, PropNex has announced a special dividend of 2.5 cents per share, in addition to the final dividend of 3 cents per share. This sets a record dividend payout of 7.75 cents for FY2024, with a payout ratio of 140.1% and a yield of 8.2%.

Although the company’s earnings have decreased for the year, there has been an increase in activity in the last quarter of 2024, driven by a surge in new private home units sold with the help of PropNex. This increase in sales will have a significant impact on the company’s financials, which will be reflected in its current 1HFY2025 numbers, thus suggesting a positive outlook for the company.

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PropNex expects a strong performance in FY2025, given the favourable property market outlook and an estimated launch of 13,000 new units (including ECs), almost double the supply in 2024. The private resale market is also expected to remain active, with an estimated transaction volume of 14,000 to 15,000 units. This demand is driven by the price gap between new and non-landed resale properties, the preference for larger, ready-to-move-in homes, and a decrease in new supply completions.

In terms of HDB resale, PropNex predicts a price growth of 5% to 7% with a volume of 29,000 to 30,000 units. The limited supply of five-year minimum occupation period flats in the market, along with strong demand from urgent home buyers, unsuccessful Build-To-Order applicants, and budget-conscious families, is expected to drive the market.

The company also notes that recently launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have generated significant interest in the market. With a positive economic outlook and lower mortgage rates, PropNex anticipates a positive demand for developer sales in 2025, offering a compelling line-up of projects. This, coupled with market confidence, could create opportunities for both homebuyers and investors.…

Purchasing a condo involves more than just the initial cost – maintenance and management should also be taken into consideration. Condominiums often come with maintenance fees that encompass the maintenance and upkeep of shared spaces and amenities. While this may increase the total ownership expenses, it guarantees that the property remains well-maintained and holds its value. For investors looking for a more hands-off approach, hiring a property management company can handle the daily operations of the condo, ultimately making it a more passive investment. For the latest updates on new condo launches, visit HomeSearch-MD.com.

A two-storey shophouse with an additional attic space located at 209 Jalan Besar is currently on the market for sale through private treaty. Gracelynn Zhu from PropNex Shophouse Elites, the marketing agent for the property, reveals that the 999-year leasehold shophouse is priced at “under $20 million”.

Boasting a total floor area of approximately 5,502 square feet, this commercial property is ideal for businesses of all kinds due to its commercial zoning. The first floor has already been approved for use as a restaurant, and a portion of the second floor has received the same approval. Calculating the price per square foot based on the $20 million price tag, the property is valued at $3,635 per square foot.

In the map below, we can see the exact location of 209 Jalan Besar. The property is conveniently situated in District 8, within close proximity to Little India. Additionally, the Jalan Besar MRT Station on the Downtown Line is just a short walk away, providing excellent connectivity.

(Source: EdgeProp LandLens)

According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which involves the installation of micro piles extending up to 30 meters to strengthen the property’s structural foundations. This AEI is expected to be completed by the end of this year.

The property is located within the Desker Road Conservation Area, which is a popular and bustling district in District 8. Its central location, coupled with its strong commercial potential, makes it a highly desirable investment opportunity. Don’t miss this chance to own a shophouse in one of Singapore’s most sought-after areas.

In related news, a shophouse on Geylang Road and a shop unit in Bras Basah Complex are also up for sale at a price of $14 million. The Chinatown Business Association also has plans to revitalize Smith Street with a mix of new and traditional lifestyle concepts. Additionally, 2024 saw 84 caveated shophouse transactions, indicating a steady market for these types of properties.…

According to recent findings from a CBRE survey, the Asia Pacific (APAC) hotel sector is expected to see strong investment activity in 2025. The consultancy’s 2025 Asia Pacific Hotel Investor Intentions Survey found that over 72% of hotel investors surveyed last November and December plan to acquire more hotel assets this year. About 45% of respondents indicated a plan to increase their purchasing volume by more than 10% this year.

The survey also revealed that investors are optimistic about the pricing expectations of hotel and living assets in APAC in 2025. Steve Carroll, head of hotels, capital markets, Asia Pacific at CBRE, noted that after a strong performance over the past 18 months, investors anticipate that Apac hotel room rates will continue to rise, leading to growth in income for hotel operators.

The rebound in tourist arrivals, especially in countries like Japan, Singapore and Australia, has also contributed to the healthy buying intentions in the region. The increase in international arrivals has pushed up hotel room rates, ensuring a continuation of the income growth achieved by hotel operators last year.

Investing in a condo in Singapore offers numerous advantages, with one major benefit being the potential for capital appreciation. This thriving city-state boasts a prime location as a global business hub, supported by a strong economy, resulting in a constant demand for real estate. Over time, property prices in Singapore have consistently increased, particularly in sought-after locations like prime condos. Savvy investors who enter the market at the opportune moment and hold onto their properties for a significant period can reap considerable capital gains. Keep on top of the latest developments with the launch of new condos at Homesearch.

In addition, investors are encouraged by the limited hotel supply in APAC. According to data from hospitality data intelligence group STR, the hotel supply pipeline in APAC is expected to grow at a CAGR of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR recorded between 2013 and 2023.

The survey also found that REITs had the highest net buying intentions at 22%, a sharp increase from the -13% recorded in last year’s survey. Institutional investors and property funds followed closely with 12% and 10% net buying intentions respectively. CBRE also noted that private equity and real estate funds for hotels are expected to continue their momentum from 2024 into this year.

However, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions this year. After two years of being the most active buyer type in the region, private investors indicated a greater level of selling activity in 2025 as they look to capitalise on improving market sentiment after acquiring assets during a period of price dislocation.

In terms of investment strategy for 2025, survey respondents favoured a value-add approach. CBRE observed that in select markets, assets have been repriced to the point where investors believe they can achieve value-add returns by acquiring assets that have a low risk profile.

This has led to the upscale and upper midscale hotel categories being voted as the most attractive asset types for investment this year, overtaking the upper upscale category that topped last year’s survey. The report attributes this shift to the operational flexibility and greater scope for value-added opportunities offered by this segment, such as redevelopment, adaptive reuse and rebranding of existing properties, which are cheaper alternatives to new developments.

The preference for this segment is also due to the leaner labour pool compared to higher-tier assets, resulting in reduced labour and cost pressures. Amid this shift, investors are also turning to long-stay or hybrid hospitality models. CBRE cites the growing appetite among investors to convert assets into co-living spaces as an example of this trend. This momentum is expected to gain traction in countries like Japan, Hong Kong and Singapore, where there is demand for cost-effective accommodation in relatively inflexible rental markets.

Other emerging trends include a greater preference for assets with vacant possession at the time of acquisition, which offers flexibility in terms of operator selection and refurbishment works. Limited-service hotels also saw a higher level of interest from respondents as investors remain focused on minimising operational costs.

Tokyo retained its position as the preferred city among hotel investors, thanks to low interest rates and stable income streams generated by hotel properties. Osaka also made it to the top five cities, for similar reasons. Singapore and Sydney also ranked among the top cities, with solid hotel fundamentals such as growth in daily rates and underlying operating profits. Seoul also stood out, with more visitors from mainland China driving daily rates in recent years, leading to an uptick in investor activity.

Overall, the CBRE survey shows that the APAC hotel sector is expected to continue seeing strong investment activity in 2025, driven by a rebound in tourist arrivals, limited hotel supply, and a shift towards the upscale and upper midscale segment.…

Investing in a Condo in Singapore has emerged as a favored option for both local and foreign investors, given the city-state’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore presents a plethora of opportunities, with condos being a standout choice due to their convenience, amenities, and potential for significant returns. In this article, we will delve into the advantages, factors to consider, and necessary measures to take when investing in a Condo in Singapore. If you are interested in Condo investments, check out Condo.

ETC and OrangeTee Group, two prominent real estate firms, have announced their merger in a joint press release on Feb 24. The new holding company, which has not yet been named, will bring together the expertise and resources of both companies.

According to Desmond Sim, CEO of ETC, this is not an acquisition, but a union of minds. Under the new structure, Sim will serve as the group CEO while Justin Quek, current CEO of OrangeTee & Tie, will assume the role of deputy group CEO.

The merged entity will have a total of 520 employees and 2,803 salespersons registered with the Council for Estate Agencies (CEA). ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business.

This merger builds on the 2017 joint venture between the two companies, where they merged their associates’ business under a new entity, OrangeTee & Tie. This move propelled OrangeTee & Tie to the third spot among the top three agencies, with a sales force of over 4,000 agents. The former Edmund Tie had also acquired a 20% stake in the company.

The merger between ETC and OrangeTee was facilitated by Triplestar Holdings and TH Investments, both entities related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings. These two companies acquired a stake in ETC in 2016 and currently own the entire company.

This year marks a significant milestone for ETC as it celebrates its 30th anniversary. The company was recently rebranded as ETC, dropping its former name, Edmund Tie & Company.

OrangeTee Group has been in operation since 2000 and will celebrate its 25th anniversary this year. It is led by a board of directors and supported by the C-suites, including Justin Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist.

The stakeholders of OrangeTee Group include Tokyu Livable Inc., one of Japan’s largest real estate agencies, which acquired a 22.5% stake in the company in 2014. Vogue Capital Group, a private property fund, is also a shareholder of OrangeTee Group.

ETC also has a presence in Malaysia and Thailand through its joint venture company Nawawi Tie, and its associate company Edmund Tie & Co (Thailand). The merger with OrangeTee Group presents more opportunities for ETC in the ASEAN region and Japan, particularly through its relationship with Tokyu Livable. With this merger, ETC aims to deliver innovative and seamless solutions across all real estate sectors.…

Investing in a Singapore condo offers a multitude of benefits, one of the most notable being the potential for capital appreciation. Boasting a strategic location as a global business hub and a robust economy, Singapore maintains a high demand for real estate. As a result, property prices have consistently risen over the years, particularly in prime locations. For investors who enter the market at the right time and hold onto their condos for the long term, the potential for significant capital gains is promising.

UOL and CapitaLand Development have recently announced the successful launch of ParkTown Residence in Tampines North. During the launch weekend, 1,041 units were sold, accounting for more than 87% of the total 1,193 units. This translates to an average price of $2,360 psf, according to Anson Lim, UOL’s general manager of residential marketing. The majority of buyers were either Singaporean homebuyers or investors.

The project consists of two-bedroom and three-bedroom units, making up 994 units (83%) of the entire development. These unit types were the most popular, with 92% being sold over the launch weekend. The high demand for ParkTown Residence can be attributed to its unique status as a fully integrated residential and lifestyle development, directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre. A spokesperson for UOL and CLD stated that before the launch, 2,367 cheques were collected, resulting in a sales conversion rate of 44%. This is significantly higher than the average of 30% to 35% for most new project launches.

According to Mark Yip, CEO of Huttons Asia, no mega project has sold more than 1,000 units in its launch weekend since the launch of High Park Residences in July 2015, which sold 1,100 units over three days. ParkTown Residence, however, has surpassed this record since the 846-unit Emerald of Katong, which achieved a 99% take-up rate in November last year, selling 835 units.

The success of ParkTown Residence has also exceeded that of previous integrated developments, according to Ismail Gafoor, CEO of PropNex. The most recent integrated project launch was The Reserve Residences, with 732 units launched in May 2023 and achieving a 71% take-up rate during its launch weekend. As of Feb 23, the project has sold 98.2% of its units at an average price of $2,484 psf, based on caveats lodged. Marcus Chu, CEO of ERA Singapore, also stated that mixed-use developments integrated with transport hubs have been popular among homebuyers and investors due to their potential for capital upside and high rentability.

The last two fully integrated developments to be completed were North Park Residences in Yishun (launched in 2015) and Sengkang Grand at Buangkok (launched in 2019), with 920 units and 680 units, respectively. The average price of North Park Residences is $1,809 psf, which is 65% higher than the average resale prices in District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, which is 25% higher than the average resale prices in District 19.

Located at Tampines Street 62, ParkTown Residence is part of the first mixed-use development integrated with a transport hub in Tampines. According to Huttons’ Yip, many of the buyers were HDB upgraders who wanted to stay in Tampines. Its completion in 2030 is aligned with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), which is a major arterial line running from East to West of Singapore, says Ken Low, managing partner of SRI. Additionally, the relocation of the neighbouring Paya Lebar Airbase in 2030 is expected to free up 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. With these new projects potentially being launched at higher prices, Low believes that Tampines will benefit from these developments. In 2027, new infrastructure developments such as a cycling bridge, an underpass, and 7.7km of cycling paths will be completed, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional centre, which was announced on Feb 22 as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the liveability in Tampines, which already has strong attributes,” says SRI’s Low.…