SINGAPORE – In a strategic land swap agreement, Singapore and Tunku Ismail Sultan Ibrahim, the Regent of Johor, are set to exchange valuable parcels of land near the iconic Singapore Botanic Gardens. This deal, agreed upon by the Urban Redevelopment Authority (URA) and the Singapore Land Authority (SLA), promises to reshape the landscape of this prime area.
Details of the Land Swap
Tunku Ismail currently owns 21.1 hectares in the Holland Road vicinity, which includes a 13-hectare plot right next to the UNESCO World Heritage-listed Singapore Botanic Gardens. In exchange for this significant plot, Singapore will transfer 8.5 hectares of state land to the Johor regent. Both parcels are noted to be of comparable value.
- The 13-hectare plot will remain undeveloped for now, allowing for potential future plans.
- The 8.5-hectare land that Tunku Ismail will receive can be developed, although any development plans will need regulatory approval.
- There’s also an additional 8.1 hectares that will remain under Tunku Ismail’s ownership, sandwiched between the two swopped parcels.
Future Developments
Following the agreement, Tunku Ismail may pursue development plans for his new land. The proposals will need to be assessed for compliance with zoning regulations and environmental considerations. It’s noteworthy that this area has historical significance, having been privately held by the Johor royal family for generations.
Reports from Bloomberg in 2021 indicated Tunku Ismail’s ambition for a multibillion-dollar luxury residential project on the land in Tyersall Park, previous regal grounds featuring structures like Istana Woodneuk.
Maintaining Environmental Integrity
Both SLA and URA have assured the public that necessary environmental studies will be conducted to mitigate any potential impact on the surrounding areas. This is crucial, considering the development will take place near a significant green space cherished by many Singaporeans.
As the swop is set to be completed in 2025, it marks a significant step in balancing development with conservation efforts. With plans still under wraps, residents and stakeholders alike await the outcome of this ambitious collaboration.