About More New Homes After Paya Lebar Airbase Relocates | Lee Hsien Loong who is the Prime Minister announced on 16th August to 22nd August 2022 plans to develop a new business and lifestyle destination next to an airport commonly known as Changi Airport Terminal 5. They also proclaimed that one hundred and fifty thousand newly private homes will be established over the current Paya Lebar air site, probably after twenty thirty. Meanwhile, the newly developed private home sales in Singapore rebounded by roughly seventy point nine percent month-on-month to eight hundred and thirty eighty units in July, amid the sale results of AMO Residence.
Additionally, he announced plans to develop a new business and lifestyle destination next to Changi Airport Terminal 5. The new Changi East Urban District will create more jobs and opportunities for Singaporeans while Terminal five has been redeveloped to operate as minute sub-terminals or be changed for use during contingencies.
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Therefore, different measures will be put in place within the terminal to stop the spread of disease, such as better aeration systems and contact-free systems. The Ministry of Transport announced that the terminal will also be certified as a Green Mark Platinum Super Low Energy Building by the Building and Construction Authority. In order to lower the emission of carbon, solar panels, smart building management systems, and district cooling will be conjoined with thermal energy storage at the terminal. This new development could lead to an increase in prices for properties near Changi Airport.
On the flip side, the Prime Minister announced that 150,000 new homes will be built in Paya Lebar during his National Day Rally speech. The airbase will be relocated in 2030, as reported by The Business Times. On top of that, the number of upcoming private homes fetched in Singapore increased sharply by seventy point nine percent monthly to eight hundred and thirty four units in July, although this was still 47.9% lower compared to the same period last year. The significant rise in sales can be attributed to the “astounding sale outcomes” of AMO Residence, according to Huttons Asia’s Senior Research Director Lee Sze Teck.