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Singapore Science Park New Condo Launch

Singapore continues to get more new condo developments and this time, it is right at the heart of Singapore Science Park. The Singapore Science Park New Condo Launch is close to the Kent Ridge MRT and promises to provide a great opportunity for residents and potential landlords and their investments. This is, after URA approval to a change of land use for the property lot at 71 Science Park Drive.

What is Singapore Science Park

The Singapore Science Park, established in 1982 and located near Kent Ridge Park and the National University of Singapore (NUS), is a premier business and research hub in Asia. It offers state-of-the-art laboratories, office spaces, and amenities designed to support high-tech research and development. Hosting a vibrant community of multinational corporations, research institutions, and technology-based companies, it fosters collaboration and networking. With support services like business incubation and venture capital connections, the park is well-connected by public transportation, making it easily accessible from various parts of Singapore.

Masterplan Rezoning on 17th May 2024

The Urban Redevelopment Authority (URA) proposed a masterplan amendment to rezone the land at 71 Science Park Drive. The land lot, currently marked as Business Park in URA master plan, will be rezoned to “residential use” with a plot ratio of 4.1. On this map of URA Master Plan, that is the lot marked with a BLUE ARROW below.

URA Master Plan Amendment for 71 Science Park Drive
URA Master Plan Amendment for 71 Science Park Drive

Singapore Science Park New Condo Launch Details

This lot will be developed into Singapore Science Park’s first private residential property with about 300 units. The address for this new launch condo is 71 Science Park. CLD (CapitaLand Development) has been given approval to build this condo. CapitaLand is a well known developer in Singapore and is known for their excellent products and attention to details.

This new launch condo will be linked to the current Kent Ridge MRT station through the Geneo, which is an integrated development of offices in the Singapore Science Park. So offices, food and shops are all available close by to the new launch condo.

Similar to Media Circle GLS and One North rezoning, this is a move that makes “living close to where you work” a reality. This move will make the Singapore Science Park, a much more vibrant self contained neighbourhood, where you can work in the Science Park, exercise in the Science Park, enjoy your evening in the park and then sleep in the park and get to work easily the next day.

Or in the words of the master developer, “work, live, play and innovate”.

This new condo will be near to to Kent Ridge Park, which as part of the Singapore Park Connector network, offers residents easy access to the Greater Southern Waterfront facilities and parks.

Singapore Science Park First Housing Project
Singapore Science Park First Housing Project (Copyright The Straits Times)

Great Opportunities for Residents and Landlords

While not many would fancy staying inside a Science Park, but in reality, if you are working in the area or even in the upcoming Jurong Lake District and if you are working at places close to the Circle Line (which Kent Ridge MRT is on), then it can be a pretty interesting location to buy a property.

In addition, this area is peaceful on weekends and if you like nature, it is close to Kent Ridge Park and from there to many great parks in the West.

But I would say the best opportunities are for rental yield seeking investors who can look at the HUGE potential rental pool in Singapore Science Park (and the nearby West Coast industrial areas as well as Jurong Lake areas). Expatriates would love to stay close to their work and their families can enjoy the facilities and food in the nearby area. This new launch will be super for rental units to these foreigners who will have high paying jobs in the Singapore Science Park.

This is why properties in the One North area such as The Hill @ One North and Blossoms by the Park (which is 92% sold in May 2024) and the original One North Eden (which are 100% sold) are doing so well ! Besides people buying for own stay, many astute investors are tapping into the rental market in One North area. Now is your chance to also tap into the huge Singapore Science Park rental market too.

Contact us for more information on how you can maximize your investment dollars in great rental properties in the One North area and in this Singapore Science Park New Condo Launch.