Mr Mah also revealed that HDB has comprehensive plans to upgrade old, middle-aged and new housing estates, starting with Dawson Estate, Yishun and Punggol 21+.
Dawson Estate could see a 'new generation' of public housing designed by local award-winning architects, while Yishun's new town centre could be home to a large educational institution. The most ambitious plans are for Punggol 21+, which is envisioned as a waterfront community that could eventually have up to 92,000 flats.
Mr Mah said development of a town centre could start as early as 2010, when work to create new reservoirs there is completed.
A spokesman for PUB confirmed that construction work on dams to create reservoirs at Sungei Punggol and Sungei Serangoon started at the end of 2006 and will be completed in 2009.
So far, at least one commercial-cum-residential development site in Punggol 21+ has been identified for the Government Land Sales Programme and could be made available within five years.
Punggol 21+ will have a 60:40 public-private development ratio.
Noting that as a development model Punggol 21+ resembles Sentosa Cove in its infancy, property consultant Cushman & Wakefield's managing director Donald Han said: 'There should be some buyers looking to have the first-mover advantage there.'
source:
http://business.asiaone.com/Business/News/My%2BMoney/Story/A1Story20070903-23991.html
