Huttons' comments on Jalan Anak Bukit GLS site
According to the Land Transport Authority, there are currently nine integrated transport hubs in operations. The Jalan Anak Bukit site will be the tenth integrated transport hub (ITH) in Singapore.
Such integrated developments are favoured by buyers for the seamless connectivity to a MRT station and bus interchange and a mall. This ITH is one of the many plans to rejuvenate the Beauty World area.
There will be a community building with a community hub,market and hawker centre opposite the ITH in the future. This will bring added convenience to the whole Beauty World area.
URA is using a Concept Price Tender for this site highlights the strong emphasis the Government is placing on the transformation of the Beauty World area. This ITH is a piece of the puzzle that is taking place in the area together with the Rail Corridor, Green Corridor and the Coast-to-Coast trail.
The Concept Price Tender however will limit participation to larger and highly experienced developers or consortium who have developed such sites before. 3 to 5 submissions for the site is expected and a top bid of between $1,000 and $1,080 psf ppr is possible. At such a land bid, this will be the first time since the 6 July 2018 cooling measures where the land bid exceeds $1 billion.