Prospects for Paya Lebar airbase land excite developers
Area and its vicinity will benefit from lifting of building height restrictions
Property players are already excited at the prospect of redeveloping a vast area in the nation's heart - even though it will happen only after 2030.
Consultants and developers have been quick to size up the options for making use of 800ha of land to be freed up after the relocation of Paya Lebar Airbase.
The land and the removal of aircraft traffic that constrained building heights around the area "will provide more opportunities for new forms of development to cater to the future growth of Singapore", said Mr Jeffrey Ho, managing director of urban planning at building consultancy Surbana International Consultants.
"It will have a positive impact on long-term land use planning, given the scarcity of land here."