SINGAPORE – About 300 more homes could be built in the one-north business park, based on proposed plans for a new high-rise housing development in Media Circle.

In a proposed amendment to the Urban Redevelopment Authority’s (URA) masterplan released on Friday, the agency is rezoning a plot bounded by one-north Avenue and Media Circle from a business park to a residential development with commercial units on the first storey.

URA said the plot will have a “high-density residential development” to support the demand for housing in the one-north area. It will also enhance one-north as a vibrant mixed-use business park, it added.

The development, next to Infinite Studios and near the Grab headquarters, could be either a private or public project.

The 6,170 sq m land parcel – nearly the size of one football field – could have its plot ratio increased from 3.5 to 4.2 under the proposed amendment.

The plot ratio refers to the number of times the total floor area of all buildings constructed exceeds the size of the land itself, which determines the intensity of development permitted for a piece of land.

If approved, it will be the second residential plot in the Media Circle area. In June, a 1,130-unit project bounded by Media Circle and Portsdown Road was released for sale via public tender under the Government Land Sales programme.

Property analysts estimate that the site could yield 250 to 310 units.

Mr Lee Sze Teck, senior director of data analytics at real estate agency Huttons Asia, said there are not many sites designated for housing in the one-north area, leading to high rental demand. “The rentals in one-north have consistently been higher than rentals in the Dover area,” he said.

Other residential developments in one-north, such as One-North Residences and Blossoms By The Park, are condominiums located closer to one-north MRT station, farther from the Media Circle plots.

Ms Christine Sun, senior vice-president for research and analytics at real estate firm OrangeTee & Tie, said she hopes to see a public housing development in the area.

“With Singapore’s plan to expand further into the healthcare and biomedical arena, we foresee more people working in the one-north area. Therefore, providing residential units in this area will be timely,” she said.

ERA Singapore key executive officer Eugene Lim said HDB upgraders from Queenstown and Clementi could be interested in the development.

Potential tenants – both local and foreign – from the information and communications technology sector and biomedical firms in the one-north area could also attract investors, he added.

An executive who works near the Media Circle plot, and who wanted to be known only as Ms Chua, said she would consider living there if the area has malls and community areas.

“Getting out or getting home after a night out might be an issue as there isn’t any public transport nearby. one-north MRT is about a 20-minute walk away,” said the 29-year-old.

Over in Tengah, more homes could be built on an 8ha land parcel along Tengah Garden Avenue, based on the proposed amendment to increase its plot ratio. The size of about 11 football fields, it is next to the future Hong Kah MRT station on the Jurong Region Line.

URA said the proposed amendment is to pave the way for the roll-out of a mixed-use development.

Mr Nicholas Mak, chief research officer of property search portal Mogul.sg, said the plot could yield 1,950 to 2,000 flats, or 2,850 to 2,900 private apartments. He added that it is more likely to be a private development, given the significant number of Build-To-Order (BTO) projects in the Tengah area.

OrangeTee & Tie’s Ms Sun said HDB flats on the plot could fall under the new Plus category in the impending reclassification of flats, due to its proximity to the MRT station.

From the second half of 2024, BTO flats in choicer locations under the Prime and Plus categories will come with stricter resale conditions, such as a 10-year minimum occupation period.

Separately, in Bayshore Road, the plot ratio for a residential development along East Coast Parkway could be raised from 3.5 to 4.2.

URA said the proposed move is to facilitate upcoming residential development in the Bayshore precinct.

Mr Lee from Huttons said the site would likely be directly connected to the future Bayshore MRT station on the Thomson-East Coast Line. 

Some units could have unblocked views of East Coast Park and the sea, said ERA’s Mr Lim.

Ms Sun said the plot has potential for 800 to 900 flats, or 1,200 private residential units.

In Margaret Drive, the plot ratio for a 5,300 sq m land parcel next to Queenstown Primary School could also be raised from 3.5 to 4.2.

Currently a carpark, the site is in between SkyOasis and SkyVille @ Dawson, high-rise Housing Board projects at 45 to 47 storeys. Mr Lee said a future project there could yield between 300 and 350 units.

URA said more details of plans for the site will be made public when ready.