Mr Eugene Lim, key executive officer of ERA Realty Network, said that the terrain is flat and can be very easily adapted for residential and a variety of other uses.
He added that based on the current surrounding land uses in the URA Master Plan, residential uses may be incorporated both on the eastern and western portions of the site as an extension of current residential uses.
“On the eastern side, flanked by the BKE, land could be set aside for HDB flats. There is an existing HDB flat cluster at Woodlands Street 41 just across the BKE,” he said.
“Over at the Western end along Turf Club Avenue, we envisage land could be set aside for low-rise condominiums or landed plots as there are already existing landed properties at the Jalan Kasau area.”
NEED FOR MORE FACILITIES
While some work may need to be done to shield homes from industrial land, this can be “easily overcome” with the placement of non-residential buildings to create the necessary buffer, said Huttons’ Mr Lee.
Mr Ismail Gafoor, CEO of PropNex said that the revamping of Kranji as a new town will support the development of the Woodlands Regional Centre, expected to be the largest economic hub in the north of Singapore.
“As there are currently limited amenities in the Kranji area, the provision of more retail, food and beverage, and childcare options, for example, will be necessary to support and grow the residential population,” he added.
Mr Lee said a theme park or sporting facilities may also be considered as the Singapore Sports School is already in Woodlands.
Other potential uses could include hotels or high-tech farms, said Dr Lee Nai Jia, PropertyGuru Group’s head of real estate intelligence, data and software solutions.
“There is definitely some redevelopment potential for retail and hotels when the zoo is fully redeveloped under the Mandai Rejuvenation Project. Separately, there may be new needs for land for food labs and high-tech farming,” he said.
Another potential development that could “catalyse the area” is the Johor Bahru-Singapore Rapid Transit System (RTS) Link, he added.
Dr Lee noted that the area is considered far from most current major employment clusters and that it will “take some time for people to change their perception”.
“Should one or more choice primary schools relocate their campuses to Kranji, it will provide an impetus for families with school-going children to benefit from this redevelopment,” he added.
Mogul.sg chief research officer Nicholas Mak said that the closure of the Singapore Turf Club and the redevelopment of the site is only one part of the larger redevelopment and rezoning of the Kranji and Sungei Kadut area.
Most of the land in the area is either zoned for general industrial use or for future detailed development, that is, the exact land use zoning has not been assigned. A small amount of land is zoned for residential use.
He said that homes in the area will benefit from water views of the Kranji Reservoir or the Straits of Johor if industrial land around the reservoir or the coast is rezoned for residential and associated uses, such as for schools, retail, sports and recreation.
Ms Indranee said the redevelopment of the Singapore Racecourse site is in line with a broader plan to develop the northern region of Singapore. This includes the expansion of Woodlands Checkpoint and a masterplan for Lim Chu Kang to become a high-tech agri-food sector.