SINGAPORE - Property consultants say land to be given up by golf courses will be sought after for housing as it promises waterfront living.
This land, which may be up for grabs after 2030, includes prime locations in Keppel and Marina Bay, as well as land in the Yishun heartlands.
Keppel Club, Orchid Country Club and the Marina Bay Golf Course are set to make way for a mix of residential and commercial developments.
The Ministry of Law said on Sunday that the lease for Keppel Club in Telok Blangah, which runs out in 2021, will not be renewed.
The same goes for Singapore's only 18-hole public course, the Marina Bay Golf Course, whose lease expires in 2024.
Orchid Country Club in Yishun, on the other hand, will be offered a lease extension for seven more years till 2030, before it is redeveloped for housing needs.
The total land area of the three sites is 219ha, about a third the size of Ang Mo Kio town.
The land on which Keppel Club sits will be part of the proposed Greater Southern Waterfront, while the nearby Keppel Terminal will be moving to Tuas, said CBRE research head Desmond Sim.
"The site makes for a good residential enclave, especially with surrounding developments such as Corals at Keppel Bay, Caribbean at Keppel Bay and Reflections at Keppel Bay," he said. R'ST Research director Ong Kah Seng expects the 68ha site in Marina Bay to be developed into high-end residential homes.
"It has the potential for attractive lifestyle amenities, including retail, that will serve residents in the area as well as patrons from outside the Central Business District," he said.
"It will be an extension of the successfully-shaped out and established Marina Bay area - and can help place Singapore prominently on the world map."
Mr Ong envisions an exclusive work-live-play concept for the area in the longer term, an extension of the Tanjong Rhu estate.
Ms Alice Tan, research head of Knight Frank, said that the 107ha site where Orchid Country Club sits could be used for private cluster housing.
"Tranquil spots facing greenery and water views such as the reservoir are hard to come by," she noted. "It will be attractive to those working at the proposed North Coast Innovation Corridor."
But as these developments are planned for a decade or so away, the consultants said it is too early to tell how new homes there might be priced.
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