Malaysia Prime Minister, Mahathir Mohamad, has confirmed the decision to scrap the Kuala Lumpur-Singapore High-Speed Rail (HSR) project. However, the derailed project is unlikely to affect the demand for properties in Jurong Lake District.
Nicholas Mak of real estate investment firm ZACD, advised, “We must bear in mind that the Singapore Government actually announced in the Masterplan that Jurong Lake District is designated as Singapore’s second central business district (CBD) before any mention of the HSR terminus, so this plan to transform Jurong into a major regional hub is still ongoing.”
He added it may even be a good thing that the project is called off. Nicholas explained, “The land that was designated to the HSR terminus is actually located right next to the International Business Park, as well as, it enjoys the view of Jurong Lake. With all these positive attributes, it could easily be carved out into a few parcels and the government could subsequently in the years to come, sell it as lands for condominium, mixed development or commercial uses. I think it will be highly sought after by developers and home buyers.”
Watch the Channel NewsAsia interview broadcasted on Tuesday, 29 May 2018, 10pm by clicking on the link (00:46 – 03:30): https://www.channelnewsasia.com/news/video-on-demand/singapore-tonight/tue-29-may-2018-10287134.
Click here to read the full article in Chinese as published on Channel 8, News Online, 29 May 2018, and here for another article on the same topic as published in Lianhe Zaobao, Singapore Section, Page 4, 30 May 2018.