The Economic Strategies Committee (ESC) has suggested the Government redevelop the port land at Tanjong Pagar, Keppel and Pulau Brani into a new waterfront city. -- PHOTO: URBAN REDEVELOPMENT AUTHORITY
EVEN before Singapore's Marina Bay is completed, the next iconic development has been identified by the Economic Strategies Committee (ESC) - Tanjong Pagar.
Senior Minister of State Grace Fu said on Monday that the port could be transformed 'into a another Marina Bay and it can offer immense opportunities to support future growth'.
This is an example of the 'bold and imaginative urban planning and redevelopment' that the ESC report said is necessary to develop the infrastructure necessary to provide 'the highest quality of life in Asia'.
The port's lease is up in 2027.
'We have to make more efficient use of our land, to maximise optimise its economic value and preserve a sense of space in our residential neighbourhoods,' said the report, released on Monday.
'We must also expand our land bank. by investing in the creation of underground space, especially around our transport nodes,' it added.
The end-goal of such infrastructure development is to position Singapore as a global city.
'Being a global city and a meeting point in Asia for enterprise, talent, cultures and ideas, will be a source of competitiveness and growth in its own right.' said the report.
The ESC report is available on the ESC website at www.esc.gov.sg.