10 March 2008
Plans for Ophir-Rochor unveiled
URA to promote development opportunities at premier international property event
As part of the plans to rejuvenate and grow the existing Central Business District (CBD), the Urban Redevelopment Authority (URA) today announced its plans for the Ophir-Rochor corridor. The Ophir-Rochor area will complement the Marina Bay area, featuring mixed-use developments with a mix of offices, hotels, residential and other complementary facilities set within a park-like environment. It is expected to be developed over the next ten to 15 years.
URA will market the first sale site in this new growth area at the “Marche International des Professionals de L’Immobilier” (MIPIM), a premier international property event in Cannes between 11 to 14 March 2008. A Singapore Pavilion, led by URA, will comprise a mix of public-private companies, to jointly present Singapore’s exciting real estate investment opportunities in Ophir-Rochor and Marina Bay as well as some key recent and upcoming developments.
A vibrant office cluster with mix of uses
With the successful sale of the commercial site at Beach Road last year, the government announced its intention to build on the momentum and develop a new growth area along the Ophir-Rochor corridor.
The Ophir-Rochor corridor is located at the northern gateway to the city. Its development will form a natural extension of the existing convention, office, hotel and retail hub at Marina Centre. This new corridor provides opportunities for the development of a vibrant office cluster for financial and business institutions that will complement the financial district at Marina Bay and Raffles Place. It comprises a series of large parcels of land that provide exciting opportunities for new high density, high-rise mixed-use developments, that will contribute to the city skyline and offer an integrated, 24/7 lifestyle environment.
Please refer to Annex 1 for the site plan and artist’s impressions of Ophir-Rochor.
The Ophir-Rochor corridor is flanked by the bustling arts, cultural, entertainment and education hub at Bras Basah.Bugis area and the historic districts at Kampong Glam and Beach Road. The Ophir-Rochor area offers the opportunity to extend the existing vibrant, street-level experience with a series of active courtyards, linkways and plazas, lined by pedestrian-orientated activities and uses. The development of the district will also build upon the existing signature tree planting to create a series of developments in a park-like setting with an attractive, lushly landscaped, green environment.
The Ophir-Rochor area will be a strategic transport hub, well connected to the rail and road network. The first phase of the new Downtown rail line will have an interchange at the existing Bugis MRT Station, offering easy access to the rest of the CBD, Marina Bay and the major shopping, dining and entertainment areas at Orchard Road and Singapore River. The site is also conveniently located with direct access to Changi Airport via the East Coast Parkway.
First land parcel for sale to kickstart developments
The first land parcel in the new Ophir-Rochor corridor will be launched for sale via the Confirmed List of the Government Land Sales Programme in June 2008. This 2.74 ha site at Rochor Road / Ophir Road, adjacent to Parkview Square, will be the catalyst for future development and growth in the area. It will include a requirement to develop a minimum quantum for office and hotel use to cater to the growth of our financial and business services sector and the tourism industry.
URA will continue to release more land parcels in the Ophir-Rochor area for development over the next 5 - 10 years in tandem with market demand.
Promoting Ophir Rochor corridor in MIPIM, Cannes
The plans for development of the Ophir-Rochor corridor and the sale site will be exhibited and promoted at MIPIM Cannes between 11 to 14 March 2008. It is part of URA’s continuing efforts to interest international investors in property development and investment opportunities in Singapore, and to showcase Singapore as a great city to invest, live, work and play in.
A team led by URA, and comprising public sector agencies and private companies will be showcasing investment opportunities, including some key recent and upcoming developments, at the Singapore Pavilion at MPIM Cannes. The Singapore Pavilion represents a concerted public-private effort to promote Singapore as a vibrant global city with exciting investment opportunities and an excellent quality of life.
“We have a very strong presence at MIPIM, Cannes this year. With some of the most prominent upcoming developments and strategic sale sites that Singapore has to offer in Marina Bay and Ophir-Rochor, I am confident that we will continue to attract international investors with what Singapore has to offer,” said Mr Choy Chan Pong.
In addition to the plans for the Ophir-Rochor corridor, the URA will also be exhibiting plans for the extension of the existing financial district at Marina Bay. Please refer to Annex 2 for the list of projects to be exhibited.
About MIPIM, Cannes
MIPIM is one of the largest international real estate conferences and exhibitions, attracting about 2,500 exhibitors and 26,000 delegates from more than 74 countries each year. It is held annually in Cannes at the Palais Des Festival, France. URA first participated in MIPIM in 2002. In the last three years, we have promoted specific development opportunities like the Business and Financial Centre sale site, Orchard Road sale sites as well as, the Collyer Quay and Beach Road sale sites in the annual MIPIM event in Cannes. This has helped to increase international investment interest in Singapore.
For more information about MIPIM, please log onto its official website at http://www.mipim.com.