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Aerial view of Bishan sub-regional centre
What is new in changes of URA master plan for Bishan?
The site of the announced BTO flats, which was until recently the site of a school, was already zoned for housing in the 2014 Master Plan. In the 2019 edition, however, the URA increased the plot ratio of the site from 3.5 to 4.2, meaning that there will be 20% more housing area than was originally planned. (according to HDB, it has said that the upcoming blocks will rise up to 39 storeys.)
But the real change for Bishan in this latest edition of the URA Master Plan 2019 isn’t about the BTO project. What truly captivates the imagination is URA’s change of plan for Bishan Town Centre. Originally designating the two plots of undeveloped land around Bishan MRT stations and interchanges for residential developments, URA has rezoned the plots as purely commercial sites.
The larger of the two sites is more than six football fields in area. With a plot ratio of 4.2, this development will be nearly double the size and scale of Novena Square/Velocity Mall. In time to come, Bishan residents can look forward to a mega shopping mall and office complex.
Why It Matters?
A commercial office-cum-retail-development, especially one that’s the size of the zoned site in Bishan, will undoubtedly be a highly sought-after amenity that could generate significant property value uplift in the estate. Furthermore, in keeping with the government’s decentralization efforts, it is likely that the offices here will come in the form of Grade A spaces like the ones at Paya Lebar Quarter, which has brought a new pool of high-income tenants into the area since its opening in 2019. (Notably, like Paya Lebar MRT, Bishan MRT is also an interchange station, so the area is well-prepared to be developed into a commercial centre.)
Cutting back on the number of plots zoned for residential at Bishan town centre will also create scarcity. A reduced supply means that demand for existing properties—from both buyers and renters—won’t be diluted. The upcoming BTO at Bishan will likely be the one and only BTO project in the town, and we also won’t be seeing any new condos in area, to the delight of Sky Vue and Sky Habitat residents surely.
Additionally, we expect some sort of upside across the entire Bishan town, and for condos located a stop away on the Circle Line (i.e. Lorong Chuan and Marymount MRT). HDB resale flats in the town, mostly built in the late 1980s and early 1990s, could pique buyer interest, especially from those unable to get their hands on the coveted BTO flats.
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Sales Chart (update on real-time)
- SOLD (87%)
- AVAILABLE (13%)
- SOLD (87%)
- AVAILABLE (13%)
TOTAL AVAILABLE UNIT TYPE
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Price Trend (AVG PSF $)
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