The Urban Redevelopment Authority has announced its plans for the Ophir-Rochor corridor.
The project is expected to be developed over the next ten to 15 years as part of plans to rejuvenate the Central Business District. It will feature a mix of offices, hotels and other complementary facilities in a park-like environment.
The first land parcel in the new Ophir-Rochor corridor will be launched for sale in June via the Confirmed List of the Government Land Sales Programme.
This 2.74 hectare site is adjacent to Parkview Square, which is located between Rochor Road and Ophir Road. It will include a requirement to develop a minimum quantum for office and hotel use.
This will help boost the tourism industry and cater to the growth of Singapore's financial and business services sector.
URA said that this Ophir-Rochor corridor will be "the catalyst for future development and growth in the area".
Plans for development of the Ophir-Rochor corridor and sale site will be exhibited and promoted at the Singapore Pavilion during the "Marche International des Professionals de L'Immobilier" (MIPIM) between 11 and 14 March 2008.
MIPIM is a premier international property event in Cannes. The Singapore Pavilion will see a mix of public-private companies, led by URA.
This is part of URA's continuing efforts to attract foreign investors to property development and investment opportunities in Singapore.
Singapore's real estate investment opportunities in Ophir-Rochor and Marina Bay will be jointly promoted at MIPIM Cannes.
The Singapore Pavilion will also promote Singapore's key recent and upcoming developments. - CNA/vm
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