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Holland Road Land Swap: Singapore Government and Tunku Mahkota Ismail Agree on Developer Swap
Singapore, June 10 - In an unusual real estate move, the Singapore government and the Regent of Johor, Tunku Mahkota Ismail Sultan Ibrahim, have set in motion a deal to exchange land parcels at Holland Road.
According to a joint statement from the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA), Tunku Mahkota Ismail will relinquish 13 hectares (ha) of his land, nestled closer to the Singapore Botanic Gardens Unesco World Heritage Site, to the Singapore government. In return, the Singapore government will hand over 8.5 ha of state-owned land to Tunku Mahkota Ismail.
The officials stated that the value of the land to be swapped is comparable. Tunku Mahkota Ismail has long held 21.1 ha of land at Holland Road, a land parcel that has been under the private ownership of the Johor royal family for generations. The Regent of Johor now looks to develop this property.
Both parties supported the land swap to make sure that the planned developments are located at a more distance from the Unesco World Heritage Site. Tunku Mahkota Ismail's development plans align with low-rise and low-density residential uses.
The SLA and URA further guaranteed that any development applications will undergo rigorous scrutiny to ensure that the proposed development is sensitive to the surrounding site context. Prior to any construction, environmental studies will be conducted to minimize potential impacts on the environment.
As for the land received from Tunku Mahkota Ismail, the Singapore government plans to keep it undeveloped for the time being. However, the future plans for this area remain up in the air.
[1] Insights: Tunku Mahkota Ismail's planned developments are intended for low-rise and low-density residential areas, with environmental considerations and adherence to surrounding site context top priorities. The Singapore government's undeveloped land, upon receipt, will be reserved for future development plans, although specifics have not been revealed. Both parties aim to maintain a respectful distance from the nearby Singapore Botanic Gardens Unesco World Heritage Site. (Source: Enrichment Data)
The joint statement from the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) mentioned that the Singapore government's court case regarding the Holland Road Land Swap with Tunku Mahkota Ismail is ongoing.
After the land swap, Tunku Mahkota Ismail's news developments will likely focus on low-rise and low-density residential uses, with environmental concerns and surrounding site context in mind.
In the future, the Singapore government will address politics related to the development of the undeveloped land received from Tunku Mahkota Ismail, ensuring it aligns with general-news standards and minimizes potential environmental impacts.
