Pasir Panjang the next waterfront living belt?

Pasir Panjang the next waterfront living belt?

SINGAPORE - Pasir Panjang is best known for its port and wholesale industry facilities, and is hardly Singapore's most fashionable address.

But consultants say that both commercial and residential property in the area could make good medium-term investments.

It could become the next "waterfront living" belt, given its proximity to various west coast amenities such as science parks, business hubs and a university.

The largest new project in the district is the Mapletree Business City, a huge 1.7 million sq ft office and business park.

Completed in 2010, the business hub could be a significant source of office and residential tenants, noted Knight Frank research head Png Poh Soon.

Pasir Panjang is also close to Singapore Science Parks I and II and Alexandra Technopark, giving it access to an estimated 100,000 workers and residents in the vicinity, he said.

Also, the recent completion of the Haw Par Villa and Pasir Panjang MRT stations - both on the Circle Line - has helped to boost accessibility to the area.

But one might be forgiven for wondering if there is much space for many homes in the district.

After all, Pasir Panjang Terminal occupies the south and the National University of Singapore sits in the north-west of Pasir Panjang, along with large greenery belts formed by West Coast Park and Kent Ridge Park.

It is unlikely that many more new homes will be built here, consultants said, noting that there were no government land sale sites available in the Pasir Panjang area for the second half of this year.

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