Latest news with #landswap
Forbes
a day ago
- Business
- Forbes
Singapore, Malaysian King's Son To Swap Prime Land Near Botanic Gardens
The Singapore government is exchanging a plot of land in one of the city-state's priciest residential enclaves with a larger site held by the eldest son of Malaysian King Ibrahim Iskandar. Under the deal, Ismael Ibrahim, the Regent of the southern Malaysian state of Johor, will swap 13 hectares of his land that's near the Botanic Gardens for a nearby plot of 8.5 hectares of Singapore state land that's of 'comparable value,' the Urban Redevelopment Authority said in a statement on Tuesday. 'The Regent of Johor plans to develop his land,' the URA said in the statement. '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.' The 82-hectare Botanic Gardens—which is now a UNESCO World Heritage site—is a popular tourist attraction near the Orchard Road shopping precinct. It is surrounded by multi-million dollar luxury landed homes known as good class bungalows and several embassies. The Malaysian King's property in the Tyersall Avenue area has been held by the family for more than a century. Once the deal with the Singapore government is completed, the family will own about 16.6 hectares, which analysts estimate could be worth at least S$3.6 billion ($2.8 billion).
CNA
2 days ago
- Politics
- CNA
Singapore government, Regent of Johor agree to swap land parcels near Botanic Gardens
The Singapore government and the Regent of Johor have agreed to swap land parcels at Holland Road. Authorities say the swap is to ensure any development plans he has will be further away from the Singapore Botanic Gardens UNESCO World Heritage Site and cause the least disruption. Charlotte Lim with more.
Malay Mail
2 days ago
- Business
- Malay Mail
Singapore, Johor regent in landmark Holland Road land swap near Botanic Gardens
SINGAPORE, June 10 — The Singapore government and the Regent of Johor, Tunku Mahkota Ismail Sultan Ibrahim, have agreed to undertake a land swap at Holland Road, here. In a joint statement, the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) said Tunku Mahkota Ismail will transfer 13 hectares (ha) of his land in the area, closer to the Singapore Botanic Gardens Unesco World Heritage Site, to the Singapore government. In exchange, the Singapore government will transfer 8.5 ha of state land to Tunku Mahkota Ismail. 'The land parcels to be swapped are of comparable value,' the joint statement stated. Tunku Mahkota Ismail currently owns 21.1 ha of land at Holland Road, which has been under the private ownership of the Johor royal family for generations. The SLA and URA stated that Tunku Mahkota Ismail plans to develop his land. Both parties agreed to the swap so that the planned developments would be located further away from the Unesco World Heritage Site. 'The Regent of Johor may develop his land after the swap, which is suitable for low-rise and low-density residential uses,' the statement said. The SLA and URA added that any development plans will be subject to due process. 'URA and agencies will assess development applications and ensure that the proposed development is sensitive to the surrounding site context,' the statement said. Prior to the commencement of any works, the development will be subject to environmental studies to mitigate any potential impact on the environment. The Singapore government will keep the land which it will receive from Tunku Mahkota Ismail undeveloped for now. However, it is keeping its future plans for the area open. — Bernama
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
S'pore, Johor regent agree to land swap at Holland Road
The Regent of Johor, Tunku Ismail Sultan Ibrahim, plans to develop his land. (Bernama pic) SINGAPORE : The Singapore government and the Regent of Johor, Tunku Ismail Sultan Ibrahim, have agreed to undertake a land swap at Holland Road, here. In a joint statement, the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) said Tunku Ismail would transfer 13ha of his land in the area, close to the Singapore Botanic Gardens Unesco World Heritage site, to the Singapore government. In exchange, the Singapore government will transfer 8.5ha of state land to Tunku Ismail. 'The land parcels to be swapped are of comparable value,' the joint statement stated. Tunku Ismail currently owns 21.1ha of land at Holland Road, which has been under the private ownership of the Johor royal family for generations. The SLA and URA stated that Tunku Ismail plans to develop his land. Both parties agreed to the swap so that the planned development would be located further away from the Unesco World Heritage site. 'The Regent of Johor may develop his land after the swap, which is suitable for low-rise and low-density residential uses,' the statement said. The SLA and URA added that any development plans will be subject to due process. 'URA and relevant agencies will assess development applications and ensure that the proposed development is sensitive to the surrounding site (requirements),' the statement said. Prior to the commencement of any work, the development will be subject to environmental studies to mitigate any potential impact on the environment. For now, the Singapore government is not planning to develop the land which it will receive from Tunku Ismail. However, it is keeping its future plans for the area open.
CNA
2 days ago
- Business
- CNA
Singapore and Johor regent agree to swap land parcels at Holland Road
SINGAPORE: The Singapore government has agreed to swap land parcels at Holland Road with Johor's regent Tunku Ismail Sultan Ibrahim, the Urban Redevelopment Authority (URA) and the Singapore Land Authority (SLA) said on Tuesday (Jun 10). Tunku Ismail, who is also Crown Prince of Johor, currently owns 21.1 ha of land at Holland Road. The Johor regent 'plans to develop his land', which has been under the private ownership of the Johor royal family for generations, the authorities said in a joint media release. The land swap is so that the regent's "planned developments will be further away from the Singapore Botanic Gardens UNESCO World Heritage Site', the press release said. The 166-year-old Singapore Botanic Gardens is Singapore's first World Heritage Site under the United Nations body, after being awarded the coveted status in 2015. Under the land swap, the Johor regent will transfer part of his land – a 13 ha parcel bordered by Tyersall Avenue to its east and sitting beside the Botanic Gardens – to the Singapore government. In exchange, the Singapore government will transfer 8.5 ha of state land to the Johor regent. This piece is located to the west of the land privately owned by the Johor regent. 'The land parcels to be swapped are of comparable value,' the authorities said. The remaining 8.1 ha of land in between will remain under the regent's private ownership. In the press release, the authorities said the Johor regent 'may develop his land after the swap, which is suitable for low-rise and low-density residential uses'. Any development plans will be subject to due process, they added, noting that URA and its agencies will assess such applications to ensure the proposed development is 'sensitive to the surrounding site context'. The development will also be subject to environmental studies before works commence. The Singapore government noted that it will keep the 13 ha of land to be transferred from the Johor regent as 'undeveloped for now, while keeping open our future plans for the area'. This plot is currently labelled on URA's website as "open space". On the website, the other two plots - the 8.5 ha to be transferred to the regent, as well as the 8.1 ha remaining under the regent - are currently zoned as 'special use' sites, indicating areas used or intended for special purposes. A 2021 Bloomberg report said the Johor regent had plans to develop a 'multibillion-dollar luxury residential project' on his family's plot of land in Singapore, which lies in Tyersall Park and includes the ruins of Istana Woodneuk. Istana Woodneuk, along with the torn-down Istana Tyersall, served as the palaces of Johor's former Temenggong Abu Bakar Daeng Ibrahim in the late 19th century. The Bloomberg report, citing sources, said Tunku Ismail was seeking permission to develop the land into a 'cluster of high-end homes'.
