The urban redevelopment authority has planned the rezoning of some of the parts of Geylang. The URA has a proposal that the landscape that has not been occupied yet to be used for commercial activities. This means that there is no new residential property that will be approved. The estimated property that will be used for rezoning is around 14 hectares. And the plot ratio expected is around 2.8. The regions that will be taken over are, along the Geylang road, the Guillemard road, Lorong 4 and Lorong 22 Geylang. Together with the shopping and other commercial properties.
Activities in the Geylang Area
The reason for this proposal by the urban redevelopment authority is due to the consistent complains by the residents of Geylang. As the number of commercial activities increases, the grievances by the inhabitants keep increasing. Geylang is a red-light zone. According to the inhabitants, due to this reason, there has been a disturbance, bad traffic and also a lot of noise in the area. The urban redevelopment authority hence has taken this into consideration and proposed that the only solution to balance the commercial investors and the residents is to rezone some of the parts of Geylang from residential institutions to commercial institutions.
Residents Around the Geylang Area
The existing residents have nothing to worry about. They are not being affected in any way by this idea of rezoning. After the proposal has been agreed upon, there will be no more approval of any residential property. And as for the existing residents, if need be of the redevelopment of the residential property, it will not also be approved, not unless you replace the residential property with a commercial property or institution.
The question is what is there for the residents as well as the businesses and also for interested investors in Geylang.
• The new residential projects that had been approved and started to be built, will go ahead.
• The ongoing conflicts that have been there will be better managed and also according to the proposed rezoning, there will be a prevention of a spill over.
• The proposed urban redevelopment authority plan will help boost the value of lands. This is important for any investor in Geylang and other upcoming investors.
• With time, the properties will rise in value hence becoming more profitable.
• The developers can take the opportunity of redeveloping the old and small residential properties to commercial properties as this will bring them more income as the values rise.
• With time Geylang will be a perfect place for small market enterprises (SME’S). With the help of the government, it will help in their rapid growth.
• As Geylang continue growing economically, the government will intervene and give the small market enterprises access to the CBD and other business areas at a very affordable rent.
• With time, there will be a rise in incomes in the area as the value of the property rises and the commercial activities.
• Due to the improved development in the area, the cost of living in Geylang will be affordable and of a standard. This will apply to in the case of the businesses.
• Finally, the prices and the rent rates will go down as the area will be developed and bringing in a lot of income.
setbacks of rezoning.
Investors in the Geylang Area
Due to the selected area is not as large, investors who will want to expand their commercial activities may be limited due to limited space in the area. But there is a neighboring area, for instance, the upper sides of Lorong where they can create other branches and still prosper.
There are different people that reside in Geylang. Different business owners, hence this place will be promising to grow positively among the inhabitants as well as the investors. It is only a 10 minutes drive to the CBD. Majority of the inhabitants and the investors were pleased by this proposal. Geylang is more promising with more commercial activities than the residential.