The thought of creating regional centers was conceived in the early 1990s because of tactical plan to facilitate the Central Business District (CBD) from expected economic development in Singapore. The redistribution of Treasure At Tampines financial activity wouldn’t just mitigate over-congestion from the CBD, but also draw need to properties in suburban locations.
The first of those regional centers was Tampines. Its success as a regional center spurred growth from the Arabian Changi, changing the eastern end of Singapore to what’s now a bustling, self indulgent locale that occupies tens of thousands of jobs and houses.
An Summary of property costs around regional centers in Singapore
In the past couple of decades, the more recent regional centers Jurong and Woodlands have obtained the spotlight because of their many up-and-coming programs: Jurong Lake District and Star Destination of the North respectively.
In relation to each square foot (PSF) cost, possessions in Tampines have observed that a whopping 52.28% rise in value since 2008, more than twice the growth in properties in Jurong East or even Woodlands, that have climbed by 21.65percent and 18.71% respectively.
While Tampines apparently flies under the news radar, its enduring popularity is evident from the revenue transactions, which can be encouraged by the continuing growth of the east as a significant business hub through recent years. Aside from Tampines Regional Centre, leading commercial centers who have grown in power in the east comprise Changi Business Park, Pasir Ris Wafer Fab and Loyang Industrial Estate.
As stated by the URA, the east has over 1 million sq m of existing commercial area, along with an estimated 500,000 sq m to be inserted in future. Past the CBD, the east has cemented its status as a very important employment hub, also for people who work there, an perfect spot to reside.