Daily Briefing: Pasir Panjang Power District eyed for waterfront lifestyle potential; Singapore to have 13,000 shared bicycles in 2019

And a Jalan Besar property sold $10m below its indicative price of $47.4m.

From iCompare Loan:

The Urban Redevelopment Authority (URA) and the Singapore Land Authority (SLA) revealed that members of the public will get the opportunity to submit proposals for the transformation of the heritage-rich Pasir Panjang Power District into a waterfront lifestyle destination.

“We welcome the chance to partner the public in rejuvenating the Pasir Panjang Power District, an important part of Singapore’s industrial history. Through this competition, we hope to seek out fresh ideas that will do justice to this unique site and bring it into the future in creative ways,” said Lim Eng Hwee, Chief Executive Officer of URA.

SP Group will also be developing Singapore’s 1st underground 230kV electrical substation along this belt, which will be integrated with commercial offices, retail and F&B uses aboveground. While the site is about 500m from the Labrador Park MRT station, it is tucked behind SP Group’s row of substations, making it relatively obscure and difficult for the public to access.

Read more here. 

From Channel News Asia

The total number of shared bicycles in Singapore will hit 13,000 as local firm Anywheel revealed that it eyes to expand its fleet of shared bikes to a total of 10,000 by end-2019, adding to the existing 3,000 strong fleet belonging to SG Bike, the only other bike-sharing operator here after the exit of companies like oBike, ofo and Mobike.

Anywheel's bike count at the moment is fewer than 1,000 and the rides are mostly located in Punggol. Its founder and CEO Htay Aung told CNA that the company will be rolling out 2,000 to 3,000 bicycles in the Central Business District in July. 

The bicycles come with a high-tech lock designed in-house by the company to help it manage the fleet. It gives off signals that help Anywheel’s operations team locate bicycles.

Read more here. 

From iCompare Loan:

A 20,100 sqft Cavan Road property in Jalan Besar was purchased by a unit of Kheng Leong Company for $38.71m which is $10m below its indicative price of $47.4m in March.

The buyer of the Jalan Besar property plans to turn it into apartments, with commercial units on the ground floor.

Under the 2014 Master Plan, the Jalan Besar property is zoned “residential with commercial at 1st storey” with a plot ratio of 3.0. The marketing agents said when the property was launched for sale that, as the current gross floor area of the buildings are under-utilised, the successful buyer can consider maximizing the gross floor area of 2 Cavan Road to approximately 60,301 square feet upon redevelopment.

Read more here.