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RESIDENTIAL PROPERTY, STOCKS, TRANSPORT & LOGISTICS | Staff Reporter, Singapore
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Daily Briefing: North East Line to undergo major renewal work in 2019; Pasir White tender disappoints with three bids

And non-Malaysian non-citizens will be granted a longer HDB tenancy period.

From Channel News Asia:

The North East Line (NEL) will undergo major enhancement and renewal works in 2019 which will include installing a new condition monitoring systeman to track performance more closely and upgrading the trains' air-conditing, according to the Land Transport Authority (LTA) and SBS Transit.

A contract worth about S$116.7 million has been awarded to CRRC Nanjing Puzhen for the "mid-life" upgrading of all 25 NEL trains.

The 15-year-old North East Line is the third-oldest MRT line in Singapore.

"The former SMRT management under-invested in the North-South Line and East-West Line (NSEWL) and they did the minimum when NSEWL needed upgrading," transport minister Khaw Boon Wan said.

Read more here.

From PropertyGuru:

The tender for a White site at Pasir Ris Central closed with a mere three bids received from Laguna Garden and Far East Commercial Trustee, Phoenix Residential and Phoenix Commercial, and Elara 1 and Callisto 1.

“This is below expectations, given its prime location next to Pasir Ris MRT station, which holds good promise of a successful retail mall and keen demand for the residential units,” said Ong Teck Hui, senior director for research & consultancy at JLL Singapore.

He noted that while potential bidders may have taken into account the technical conditions and relatively high absolute land price for the site, the “weak response reflects concerns over the market outlook”.

“With cooling measures still hampering the private home market and an economic slowdown expected in 2019, it is understandable for potential bidders to be cautious.”

Read more here.

From Channel News Asia:

Non-Malaysian non-citizen homeowners will be allowed to rent their flat or bedrooms for a maximum of two years which is up from the current 1.5 years starting 1 January 2019, according to the Housing and Development Board (HDB).

According to HDB, this revision will give flat owners greater flexibility to secure a longer tenancy period with non-citizen tenants who may have work/ immigration passes that are valid for a longer period of two years.

The maximum tenancy period where all the tenants are Singapore citizens and/ or Malaysians remains unchanged, at three years.

HDB added that flat owners who are presently renting out their flat or bedrooms to non-Malaysian non-citizen tenants with HDB’s approval may continue to do so for the remaining approved duration.

Read more here.

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