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Business Times
16-06-2025
- Business
- Business Times
Use land owned by Johor Regent and state near Botanic Gardens for HDB homes and wellness resort.
[SINGAPORE] Could some new luxury low-rise apartments or landed homes be coming up soon in prime District 10 near the Singapore Botanic Gardens? Such private homes are likely to be well-received by buyers as they sit in a desirable established residential enclave. The recent announcement of the land-swop agreement between the Singapore government and the regent of Johor (ROJ), His Royal Highness Tunku Ismail Sultan Ibrahim, paves the way for the ROJ to develop land in the Holland Road area. The land swop involves the Johor royal exchanging a 13 hectare (ha) site (Plot C, in map), located closer to the Singapore Botanic Gardens, with the government for an 8.5 ha site (Plot A) that belongs to the state. Tunku Ismail will continue to own an 8.1 ha site (Plot B) which sits in between the said two sites. The Johor royal family has owned the freehold plots B and C for generations. Bound by Holland Road and Tyersall Avenue, the three land plots have a combined area of about 29.6 ha or 3.2 million square feet. Plots A and C have a comparable value. After the land swop, the ROJ may develop plots A and B, which are suitable for low-rise and low-density residential uses. Meanwhile, the government will keep Plot C undeveloped initially. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The land-swop deal appears to be a win-win situation for the government and the ROJ. Perhaps, the government will, in the future, use Plot C to expand the Singapore Botanic Gardens, which is a Unesco World Heritage site. And the ROJ stands to make sizeable financial gains from developing homes for sale on plots A and B, although the intensification of land use could draw hefty land betterment charges. Nonetheless, on reflection, might better uses be found for the 29.6 ha of prime land? Maybe, subject to changes to permitted land use, the land can be used for developments that include public housing, a wellness resort and a private healthcare facility. Public housing The Housing and Development Board (HDB) has built eye-catching high-rise HDB developments such as The Pinnacle@Duxton in Tanjong Pagar and SkyVille @ Dawson in Queenstown. Possibly, the HDB can build new low-rise apartments in the Holland Road area to expand choice in the public housing market, which houses about eight in 10 Singapore residents. Give HDB residents an opportunity to live in modern low-rise homes near the Singapore Botanic Gardens, thus giving them access to a wonderful green lung and a great place for walking and jogging. Moreover, building new HDB homes in a location largely dominated by private housing will help broaden the socio-economic profile of the neighbourhood's residents. Amid a rapidly ageing population, having HDB flat typologies that cater to the needs of elderly Singaporeans, who may be keen to live near the Singapore Botanic Gardens, could also be introduced in the Holland Road land plots. Wellness resort The 29.6 ha of Holland Road area land can also be used to generate good financial returns from developing a wellness resort, private medical facilities and ancillary retail offerings. Wellness is a major theme in the hospitality sector. And the fight for the lucrative luxury tourist who will spend on premier and differentiated experiences is fierce. A top-in-class wellness-focused resort that leverages the Singapore Botanic Gardens can be a unique offering, which adds to the Republic's allure for high-spending leisure tourists as well as visitors to meetings, incentives, conventions, and exhibitions (Mice). Recently, the Mandai Rainforest Resort by Banyan Tree, which is nestled within the Mandai Wildlife Reserve, opened for operations. Might a similar offering be a useful addition to the nature-centric resorts in urban Singapore? Being in a tranquil setting near the Singapore Botanic Gardens, and yet close to the prime lifestyle Orchard Road area, could also make the land suitable for private healthcare facilities targeting wealthy Singapore residents and South-east Asians. After all, the wealthy medical consumer is much sought-after by the city-state and regional destinations. Land is scarce in Singapore. Yet, with forward planning, there can be sufficient land to comfortably cater to the variety of living, work and play needs on this island. The Urban Redevelopment Authority's Master Plan, which shows the permissible land use and density for developments in Singapore, will guide the Republic over the next 10 to 15 years. This plan, which is reviewed every five years, helps ensure that there is ample land available to house a growing population, cater to business expansion and so forth. Placemaking However, having sufficient land to live, work and play needs to be supplemented by having great spaces. Placemaking helps make cities magnets for talent. And Singapore's long-term success hinges on whether it can be a great home for talent. The scale and location of the combined 29.6 ha of land in the Holland Road area near the Singapore Botanic Gardens owned by the government and the Johor regent offer exciting potential to create something useful for the community – innovative and unique, yet financially viable. The Singapore government and the ROJ should consider seeking ideas from architects and the public on how best to use the said plots A, B and C. They could then consider working together or with other partners to jointly develop the land plots, guided by the principles of community impact, innovation and financial discipline. Perhaps, a consultation exercise will yield better ideas – than low-rise HDB homes and a wellness resort – for the 29.6 ha of land, which will create social impact and economic value. Ultimately, may the goal be to create exciting new developments in the Holland Road area land plots that will enhance how Singapore residents live, work and play.
Business Times
10-06-2025
- Business
- Business Times
Singapore, Johor Regent to swap prime Holland Road land plots as royal family eyes development
[SINGAPORE] The government has agreed to swop an 8.5-hectare (860,000 sq ft) land parcel along Holland Road for a 13 ha-plot in the same area belonging to the Regent of Johor, His Royal Highness Tunku Ismail (ROJ). The 13 ha-parcel is part of a larger 21.1 ha swathe just outside the Singapore Botanic Gardens, owned by the Johor royal family for generations. The exchange is expected to be completed this year, and the land owned by the ROJ deemed suitable for low-rise and low-density residential use. The plots sit in an exclusive residential neighbourhood and are nestled between designated Good Class Bungalow areas. In nearby Gallop Park, mansions command tens of millions with one recently sold for S$58 million, while a 1,733 square foot apartment at Gallop Gables changed hands in May for S$4 million. The land swop agreement comes as the Johor Regent plans to develop his land, said the Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) in a joint statement on Tuesday (Jun 10). 'The Singapore government and the ROJ have agreed to undertake a land swop, so that the ROJ's planned developments will be further away from the Singapore Botanic Gardens Unesco World Heritage Site,' the authorities said. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up 'The land parcels to be swopped are of comparable value,' they said at a briefing on Tuesday, without disclosing the actual amount or details on the leasehold terms of the plots. The ROJ will transfer a 13 ha-plot, along Tyersall Avenue, to the government. In exchange, Singapore will transfer 8.5 ha of state land to the ROJ. With the swop, the ROJ will own 16.6 ha of land in an area bounded by Tyersall Avenue and Holland Road, including the 8.1 ha-plot which he already owns. The land owned by the Regent of Johor is suitable for low-rise and low-density residential use. PHOTO: THE ROYAL JOHOR/FACEBOOK Tunku Ismail was appointed Regent of Johor in 2024, ahead of his father's ascension to the federal throne as the 17th king of Malaysia. Tunku Ismail is the eldest of six children of Sultan Ibrahim and Johor queen, Raja Zarith Sofiah. The Business Times understands that the Singapore authorities have assessed that the state land parcel to be transferred to the ROJ can be potentially used for residential purposes. Any development plans will be subject to due process, said the authorities. 'URA and agencies will assess any development applications and ensure that the proposed development is sensitive to the surrounding site context.' The plot is currently vacant and vegetated. It has been zoned 'special use' since the 1958 Master Plan. After the land swop, the ROJ can determine the use and submit an application for rezoning. It is unclear how much in land betterment charges (LBC), which developers pay for intensified use of land, will be charged, and the zoning of the area may change in the new Draft Master Plan, due to be unveiled later this month. Lee Sze Teck, Huttons Asia's senior director of data analytics, reckons the LBC could top S$1 billion, assuming a proposal is submitted to rezone to a low density residential development due to the sheer size of the land. The surrounding area, to the west, is zoned residential with a gross plot ratio of 1.4. Nicholas Mak, chief research officer at estimates the plot of land to be transferred to the Tunku to be worth around S$1.9 billion, and the plot that the ROJ already owns worth about the same. Given the four-storey height restriction in the area, residential developments there could be low-rise luxury apartments or even Good Class Bungalows, said Alan Cheong, executive director of Savills Singapore's research and consultancy. Desmond Sim, chief executive of ETC, pointed out that future residential projects, assuming development plans are approved, will provide more options of luxury low-density apartments in the market, which could prop up supply of low-density housing in the vicinity. Nearby developments include freehold condos Botanika and Gallop Gables, both of which have a gross plot ratio of 1.4, said Tricia Song, CBRE's head of research for Singapore and South-east Asia. 'The Tunku could look to develop similar low-rise developments with lush landscaping to capitalise on its expansive land and proximity to the Unesco site,' she added. 'He can work with either Singaporean or Malaysian developers as long as they are licensed housing developers.' The agreement was made between the Singapore government and a private individual, and the Malaysian government and Johor State governments were not involved in negotiations. News of the land swop comes a week after the Singapore government announced it would acquire two separate small land parcels totalling about 0.79 ha from the Malaysian government, as part of plans to redevelop Woodlands Checkpoint, a major land border crossing between the two countries. Singapore had previously written to Malaysia in May 2022 and November 2023 to propose the purchase. Expansion works will begin in 2025, with the first phase to be fully operational from 2032. Development works on the Johor Regent's Holland Road plots will be subject to environmental studies to mitigate any potential impact on the environment, said URA and SLA. The government will keep the plot it receives from the ROJ undeveloped for now. The 13 ha-plot along Holland Road is currently zoned an open space. Media reports in 2021 speculated that the Johor royal family had plans to develop the land which housed Istana Woodneuk, a palace built by the royals' ancestors in the late 19th century. One analyst estimate put the value of the land at S$4.5 billion if it were to be sold for development. The land owned by Johor royalty has gradually reduced as the Singapore government acquired land to extend the Botanic Gardens. According to Bloomberg, the Singapore government bought a chunk in 1990 for US$25 million and another 1.05 million sq ft parcel, as big as some 12 football fields, in 2009 for an undisclosed sum. The latter plot brings the total size of the 154-year-old Botanic Gardens to nearly 74 ha. The latest agreement is not the first instance when land was swopped between the two countries. In a historic deal inked in 2010, which ended a 20-year impasse over the Points of Agreement signed in 1990, three plots of former Malayan Railway land and three additional plots in Bukit Timah were exchanged for four land parcels in Marina South and two parcels in the Ophir-Rochor area. A joint venture between Malaysia's investment arm Khazanah Nasional and Singapore's Temasek Holdings was set up to develop the new plots, with Khazanah holding a 60 per cent stake. Mixed-use projects Marina One in Marina Bay and Duo in Bugis were developed on the 99-year leasehold sites. Marina One, which has a gross development value of about S$7 billion, spans 3.67 million sq ft and has two 30-storey office towers. It also has two residential blocks with more than 1,000 units and a retail podium of 140,000 sq ft. Duo has a total gross floor area of around 1.73 million sq ft and gross development value of about S$4 billion. It has a 49-storey residential block with 660 units, as well as a 39-storey commercial tower with a retail gallery, office spaces and hotel.
Business Times
10-06-2025
- Business
- Business Times
Singapore and Johor Regent swap prime Holland Road land plots as royal family eyes development
[SINGAPORE] The government has agreed to swap an 8-hectare land parcel along Holland Road, for a 13 ha-plot in the same area belonging to the Regent of Johor His Royal Highness Tunku Ismail (ROJ). The 13 ha-parcel is part of a larger 21.1 ha swathe just outside the Singapore Botanic Gardens, owned by the Johor royal family for generations. The plots sit in an exclusive residential neighbourhood and a designated Good Class Bungalow area, where mansions command tens of millions with one at nearby Gallop Park recently going for S$58 million. The land swap agreement comes as the Johor Regent plans to develop his land, said the Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) in a joint statement on Tuesday (Jun 10). 'The Singapore government and the ROJ have agreed to undertake a land swap, so that the ROJ's planned developments will be further away from the Singapore Botanic Gardens Unesco World Heritage Site,' the authorities said. 'The land parcels to be swapped are of compatible value,' they said at a briefing on Tuesday, without disclosing the actual amount. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The ROJ will transfer a 13 ha-plot, along Tyersall Avenue, to the government. In exchange, Singapore will transfer 8.5 ha of state land to the ROJ. With the swap, the ROJ will own 16.6 ha of land in an area bounded by Tyersall Avenue and Holland Road, including the 8.1 ha-plot which he already owns. The exchange is expected to be completed this year, and the land owned by the ROJ is suitable for low-rise and low-density residential use. The Business Times understands that the authorities have assessed that the state land parcel to be transferred to the ROJ can be potentially used for residential purposes. The plot is currently vacant and vegetated. It has been zoned 'special use' since the 1958 Master Plan. After the land swap, the ROJ can determine the use and submit an application for rezoning. It is unclear how much in land betterment charges, which developers pay for intensified use of land, will be charged. The surrounding area, to the west, is zoned residential with a gross plot ratio of 1.4. The plot is expected to have a value comparable to other nearby residential plots due to its similar development potential. In contrast, a plot located further away, such as the parcel to be transferred to Singapore, can be developed for lower-density residential use. Any development plans will be subject to due process, said the authorities. 'URA and agencies will assess any development applications and ensure that the proposed development is sensitive to the surrounding site context.' The agreement was made between the Singapore government and a private individual, and the Malaysian government and Johor State governments were not involved in negotiations. News of the land swap comes a week after the Singapore government announced it would acquire two separate small land parcels totalling about 0.79ha from the Malaysian government, as part of plans to redevelop Woodlands Checkpoint, a major land border crossing between the two countries. Singapore had previously written to Malaysia in May 2022 and November 2023 to propose the purchase. Expansion works will begin in 2025, with the first phase to be fully operational from 2032. Development works on the Johor Regent's Holland Road plots will be subject to environmental studies to mitigate any potential impact on the environment, said URA and SLA. The government will keep the plot it receives from the ROJ undeveloped for now. The 13 ha-plot along Holland Road is currently zoned an open space. Media reports in 2021 speculated that the Johor royal family had plans to develop the land which housed Istana Woodneuk, a palace built by the royals' ancestors in the late 19th century. One analyst estimate put the value of the land at S$4.5 billion if it were to be sold for development. The 2.3 million sq ft area owned by Johor royalty was once larger but has gradually reduced as the Singapore government acquired land to extend the Botanic Gardens. According to Bloomberg, the Singapore government bought a chunk in 1990 for US$25 million and another 1.05 million sq ft, as big as some 12 football fields, in 2009 for an undisclosed sum. The latter plot is under the purview of the Singapore Botanics Garden and it brings the total size of the 154-year-old Botanic Gardens to nearly 74 ha.
