Prime Minister Lee Hsien Loong’s National Day Rally speech on August 21 highlighted the potential positive impact of the relocation of the Paya Lebar Airbase on the Marine Parade estate in the East Coast region. Once the airbase is moved, height restrictions in the surrounding areas like Paya Lebar, Marine Parade, and Hougang can be lifted, allowing for the redevelopment of older buildings in these areas.
This could result in an increase in the en bloc potential of some resale condominiums, including those below 20 storeys that may be replaced with taller buildings in the future. The lifting of height restrictions could also benefit older flats in the Marine Parade Estate, which were constructed in the 1970s and 1980s. Such flats could potentially be redeveloped under the Selective En bloc Redevelopment Scheme (Sers) to optimize land use.
With the upcoming launch of Tembusu Grand, many are looking forward to the sale of the condo as it is one of the demanded area in Singapore.
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