First two Bayshore BTO projects to be launched in 2024, likely under … – CNA

Singapore
Singapore
The Bayshore estate will yield about 10,000 new homes, of which about 70 per cent will be public housing.
SINGAPORE: The first two Build-to-Order (BTO) projects in the new Bayshore estate are set to be launched in 2024, possibly under the new Plus model of flats.
The new estate in East Coast will yield about 10,000 new homes when completed, said Minister for National Development Desmond Lee on Monday (Oct 16) at the HDB Awards Ceremony.
Of these, 70 per cent – around 7,000 homes – will be public housing, according to the Housing and Development Board’s (HDB) masterplan for the area.
“These Bayshore flats will be the first HDB homes built along the East Coast since the construction of HDB flats in Marine Parade,” said Mr Lee.
“We will offer a range of housing typologies, including rental flats, to promote more inclusive neighbourhoods.”
Bounded by Upper East Coast Road, Bayshore Road and the East Coast Parkway, Bayshore is located on a 60 ha site of reclaimed land that has been earmarked for residential use since the Master Plan 1998.
It is flanked by two private housing estates – Costa Sol and The Bayshore – on its west side and Bedok Camp to the east.
Located next to East Coast Park, the estate is planned as an extension of Bedok town. Most homes in the estate will be within a five-minute walk from upcoming MRT stations.
The first two BTO projects in the estate will comprise about 1,400 units of two-room Flexi to four-room flats.
“Given its attractive location and close proximity to transport nodes and amenities, these projects could potentially be considered for launch under the new Plus model,” said HDB.
Plus flats will come with additional subsidies to ensure that they remain affordable to a wider range of incomes, said Mr Lee.
They will have a longer minimum occupation period of 10 years and first owners will have to return to HDB a portion of the resale price that is reflective of extra subsidies they receive, if they choose to sell the flat, among other conditions.
There will be two upcoming MRT stations in Bayshore estate – Bayshore station and Bedok South station – on the Thomson East Coast line. 
The estate is planned as a car-lite area and will have pedestrianised paths, a Transit Priority Corridor, and dedicated cycling and walking paths. It will be linked to Bedok town via pedestrian paths converted from existing drains leading into Bayshore from Upper East Coast Road.
A network of cycling and walking paths, lined with greenery, will be built throughout Bayshore estate, connecting to the Round Island Route and the upcoming central green corridor from East Coast Park to Changi Beach.
The main thoroughfare will be a new street called Bayshore Drive, and it will be lined with amenities such as shops, eateries, supermarkets, and medical and health facilities. Sports and recreational facilities, as well as resting spots, will also be provided along the thoroughfare. 
Along Bayshore Drive, there will be a 400m bus-only Transit Priority Corridor with footpaths, cycling paths, and wider sheltered pavements along both sides.
“Together, this will transform the street into an activated community spine where residents can live, play, and bond,” said HDB.
A new integrated development with homes, retail and dining that connects to the future Bedok South MRT station and a new bus interchange will also be built.
The 1,400 flats to be launched in the two BTO projects next year will be designed with full-height windows so residents can get unobstructed waterfront views for units facing East Coast Park, or city views for units facing Bedok town, said HDB.
Within the flats, structural beams and columns will be kept to the edges of each unit so residents can customise the unit’s layout.
“Aspiring home owners can look forward to new homes with a waterfront view in a well-connected and urban environment,” said Mr Lee.
“Those with parents residing in Bedok will also have more options to live close by for mutual care and support.”
New parks and green spaces will be interspersed throughout the estate. A new 3ha central park will provide residents with a “living in a park” environment, said HDB. The park will feature open lawns where families can enjoy picnics or take leisurely walks.
A second linear park will be sited along the edge of Bayshore estate. Seawalls that mark the old coastline will be retained, while playgrounds will be designed in a rustic theme, as a nod to Bayshore’s coastal location and heritage.
To further encourage residents to adopt a healthy lifestyle, Bayshore estate will come with multiple walking trails, said HDB. 
Play spaces for all ages will be provided within the housing precincts. These interactive and educational facilities will form a “loop” across the estate.
Similar to recent housing developments like Tengah, the design of Bayshore estate will be guided by sustainability and “smart infrastructure”, such as solar-ready roofs and a pneumatic waste conveyance system.
Studies on wind flow, temperature, sunlight and shade will be carried out at Bayshore to create a green and comfortable living environment. For instance, HDB will use modelling software to analyse wind flow to optimise natural ventilation throughout the estate. 
“Shade analysis will guide the optimal placement of outdoor amenities such as playgrounds and fitness corners to enhance the comfort for users,” said HDB.
The Bayshore exhibition at HDB Hub will be available from Oct 19 until late 2024, and the public is invited to give feedback on the plans.
Mr Lee also gave an update on ongoing HDB projects. He said that in the first nine months of this year, HDB has issued almost 18,000 sets of keys to flat buyers.
There are almost 80,000 HDB flats under construction in nearly 100 BTO projects islandwide currently, and this will grow to 110,000 flats in 150 projects in 2025, he said.
HDB recognised architectural and engineering consultants, as well as building contractors for public housing projects that demonstrated excellent design, engineering and construction.
A total of 26 awards were handed out on Monday night. The awarded projects include Clementi Peaks, Alkaff Oasis, SkyResidence @ Dawson and Woodleigh Village.
Mogul.sg chief research officer Nicholas Mak said that the location of the Bayshore estate is slightly further from the city centre, but its other attractive attributes, such as the proximity of MRT stations and sea views,  will win over many homebuyers.
Demand is likely to be strong, Huttons’ senior director of data analytics Lee Sze Teck said.
The Bayshore area has been predominantly private housing. The nearest recent BTO launch,  Bedok South Blossoms in May 2023, saw strong demand with three first-timer applicants for every four-room flat.
“Similar to the strong demand seen for the first PLH (Prime Location Housing) launch, the demand for the first Plus flats in Bayshore is likely to be strong as well,” said the Huttons analyst.
Ms Christine Sun, OrangeTee and Tie’s senior vice president of research and analytics, said there has been a lack of public housing in the area for many years, so building new BTO flats now is a timely move that can “bring new life to the area”.
Redevelopment of the area will bring greater connectivity, more amenities and social activities to residents living there, benefiting the existing flats, she said. 
“It will also transform Marine Parade which is an older town to attract more young Singaporeans to live in these places,” said Ms Sun.
“I think the transformations will enhance the value of resale properties in the area in the long term.”
Older condominiums that are near the new MRT stations may also enjoy en bloc potential in future, subject to market conditions, she added. 
For private housing, Mr Lee Sze Teck noted that a plot of land above Bayshore MRT station has its plot ratio proposed to be revised to 4.2 recently, while there will be a mixed-use development above Bedok South MRT station.
“It appears that the Bedok South plot will be for private development while the Bayshore plot will be for public housing,” said the analyst.
He also expects spillover demand to the resale HDB market in the area, where there are fewer restrictions on resale. The prices of these flats may rise at a faster rate than the HDB resale price index, he added.
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