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Budding Town: Punggol; Real Estate
Topic Started: 25 Nov 2014, 02:33 AM (82 Views)
Suzanne Ng
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Some 200 years ago, when Sir Stamford Raffles first landed on Singapore it was a sleepy fishing island. Punggol, too, was a place where farming and fishing activities flourish.One of the oldest settlements, it is there where the infamous 1942 Punggol Beach Massacre occurred. Fast- forward to the 1990s, and Punggol is considered the backwater in modern Singapore, that is famed for its seafood restaurants.

But, in August 1996, Punggol was awakened from its slumber when then-Prime Minister Goh Chok Toh revealed plans to develop it into a waterfront town consisting of private and public housings, alongside water recreational facilities. The smooth development of the project, Punggol 21, however was stalled by the outbreak of the Asian financial crisis in 1997. Furthermore in 2003, financial crisis hit the construction industry, leaving beleaguered construction companies unable to complete HDB flats in a timely fashion.Indeed, some 560 flat buyers had to look for alternative housing after their flats could not be completed on schedule.

Coordination problems also beset the development of Punggol. The Punggol LRT which was completed in 2004 (Ng), has its western loop, consisting of seven stations, remains unopened till today because a low population density in its vicinity – the upshot of the slow housing development there.

Despite the hiccup in development, the Government continues to push forward in its development plans. In 2007, PM Lee Hsien Loong, launched the Punggol 21-Plus plan to build more housings and facilities there. The centrepiece was the 4.2km-long Punggol Waterway, known as My Waterway@Punggol, which he inaugurated in October 2011. The $225- million waterway boosts a Kelong bridge, eco-friendly features among other recreational amenities. Users get to enjoy a range of recreational activities, like cycling and kayaking, while immersing themselves in lush greenery and beautiful water features. For all these, some have proclaimed the waterway the ‘Venice of Punggol’. Its unique features and innovative designs have garnered it two international awards this year: the “Grand Prize for Excellence in Environmental Engineering” and the “Global Superior Achievement Award”, presented by the American Academy of Environmental Engineers (AAEE) and the International Water Association, respectively. This makes Singapore the first Asian country to clinch these awards.

http://propertylaunch-invest.com/executive-condo/property/the-amore-ec-punggol.html
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