Media Circle to meet housing demand with more homes

According to an update released by the Urban Redevelopment Authority on Friday, May 3, land zoned for use as a business park in Media Circle could soon be reserved for new homes.

The first floor of a plot opposite Infinite Studios, in One-North, that was previously designated for business park purposes, has been proposed as residential. The squarish parcel between Media Walk and Media Circle is proposed to have a plot ratio of 3.7.

A parcel of land in an irregular shape, which is mostly white, is proposed to be used for both residential and commercial purposes. However, detailed planning is required.

Authorities may assign a plot-ratio of 4.3 to another parcel on Portsdown Avenue for both residential and commercial use. In the area, a fourth parcel is proposed for residential use only.

URA stated that the proposed high density residential developments would support the demand for housing and improve the area’s status as a vibrant, mixed-use district.

When ready, we will provide more information about the development plans of the site.

Media Circle was envisioned about 20 years prior as a business district serving the media and technology industries.

The area is still a distance from the nearest MRT station as well as residential estates.

Emerald of Katong showflat

Media Circle has seen an increase in the number of residential lots released through the Government Land Sales Programme.

Qingjian Realty & Forsea Residence won a 10,632.1-square-metre plot in February for S$395,000,000 or S$1,191 a square foot per plot ratio. Infinite Studios will launch a second site in May, which is estimated to produce 515 units.

The Hill @ One North sold 43 units in its first day of sales in April 2024, the last time a new development was launched in one-north. The average price per square foot was approximately S$2,595 Gao Xiuhua bought the site for S$162.4million or S$1,210 psf ppr by 2021.

The demand for private homes in the district of one-north has been high. This could be due to the proximity of schools like NUS (the National University of Singapore), Singapore Polytechnic and NUS High School as well as the Science Park and one-north precinct.

One-north is a desirable location for those who live, work, or study there.

Rents in the area have grown faster than in Dover, which is nearby. This could be because supply has lagged behind demand.

The number of dwellings in the area may be higher than 1,500.

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