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2010 will be record growth year for Singapore: PM Lee

HOUSTON, TEXAS: Prime Minister Lee Hsien Loong has said Singapore economy is on a "firm path" towards a record year.

He was commenting after the Ministry of Trade and Industry (MTI) upgraded Singapore's 2010 GDP growth forecast to a blistering 13 to 15 percent, outstripping estimates for China.

The revision followed the 16.9 percent year-on-year GDP growth in the first quarter while second-quarter expansion is estimated at 19.3 percent.

Mr Lee, speaking to reporters at the end of an official visit to the US, attributed the rebound mainly to the success of the two integrated resorts and a sharp increase in pharmaceutical output.

He said the two resorts, which opened early this year, "made a significant difference" this year and boosted tourism to Singapore.

Mr Lee also said Singapore should go into double-digit growth this year. But he tempered sentiments, saying that this is an exceptional year.

He said: "Numerically the growth figures may be higher than other countries. I would hesitate to compare myself to China. I think if you compare yourself to Shanghai they may well be ahead of us.

"But it's a good result and we should be happy but at the same time we should understand that it doesn't mean that next year you're going to get this, and the year after that you're going to get this."

Mr Lee said Singapore needs to press on with restructuring and improving productivity to sustain long-term growth.

He said: "This is a rebound. We are on a firm path upwards. Now we must make the most of this opportunity to implement the restructuring, the upgrading, the productivity improvement which we have been pursuing and talked about in the Budget.

"Because unless you get these longer term structural changes, we are not going to be able to sustain growth in the future years. And when we say 'sustain growth', we don't mean 9, 10 percent or 11 percent in future years but 3, 4, 5 percent steadily for another 10 years."

One issue being closely watched will be the property market. Mr Lee said the government will be mindful of the economy overheating with the strong growth - which will also mean having more foreign workers.

Mr Lee said: "I believe this year foreign worker numbers will go up in Singapore. It cannot be helped because with the market so tight, if we don't allow the foreign workers in you are going to have overheating.

"But we are managing the foreign worker numbers - the levies are being calibrated to moderate the inflow. Even with that, I would imagine there would be more than 100,000 extra foreign workers this year. I cannot see otherwise, but we have to accept that."

On Singapore's aim to raise the real median wage of Singaporeans by 30 percent in 10 years, Mr Lee described this as a "reasonable target".

He said: "It is not an easy task to achieve by any means because you are talking about the median wage, the 50th percentile, and that means a broad uplifting of the standard of living for Singaporeans and not just 10-20 per cent of the most successful Singaporeans.

"That means not just economic growth but also upgrading of workers, their jobs and training of the skills and restructuring so that when new companies come in they are able to make productive use of the workers whom we have re-trained. That is something we have to work towards. It is better for us to under-promise and over deliver than to make grand promise and then be disappointed!"

Mr Lee was also asked about the detention of a national serviceman under the Internal Security Act. He said it did not come as a surprise as there have been cases of self-radicalised Singaporeans before.

He added Singapore has systems to monitor trends, but the problem is a global one as the jihadist propaganda is now reaching a new audience with websites in English.

Mr Lee said: "We must expect our people to be exposed to the material, to read the websites, and once in a while you'll find somebody who goes astray and is misguided and may take another further step. We must be prepared for this to happen and have measures to detect and to intervene when necessary.

"It doesn't mean that you will succeed every single time. We have to succeed every single time. On the other side, the terrorist only has to succeed once! So we have to understand that that is the nature of the challenge we face."

Mr Lee was also asked about his thoughts on issues that may crop up at the next General Election due by 2012.

But he remained tight lipped.

"I think it's too early to say. I mean we are just midway through 2010, with a record economy. I have not decided when the election will be."

- CNA/ir
By Imelda Saad Posted: 14 July 2010 1000 hrs

Economists raise 2010 growth outlook for Singapore to 6.5%

Economists have upped their growth outlook for Singapore as the city-state's key industries continue to rebound from last year's recession, according to a central bank poll.


The Monetary Authority of Singapore's survey of 20 private-sector economists showed they expected average growth of 6.5 per cent this year, higher than the previous forecast of 5.5 per cent in December.

The economists also raised their outlook for the island-state's major industries including manufacturing, which is now predicted to expand an annual 9.7 per cent this year - higher than the previous forecast of 6.3 per cent.

Wholesale and retail trade is seen growing 8.4 per cent instead of 7.0 per cent while construction is tipped to expand 8.9 per cent, from a previous projection of 7.1 per cent.

The government in February upgraded its 2010 economic growth outlook to 4.5-6.5 per cent from 3.0-5.0 per cent.

Singapore's economy contracted 2.0 per cent last year due to the global economic downturn. But it has managed to pull out of recession and rebounded strongly.

Improving global trade and continued consumption by major Asian markets like China spurred a rapid recovery in the beginning of this year.

Song Seng Wun, regional economist at CIMB-GK Research, said: "We see a very strong start to the year for the manufacturing sector, led by the pharmaceuticals sector, as well as a firmer contribution from the tech sector itself. So, collectively it looks like we're off to a very strong start for the year, and for the first quarter. Indeed the first-half performance may lift the overall figures for the full year itself."

Private-sector economists surveyed by the central bank said they expected GDP growth of 9.5 per cent for the first quarter.

Sector-wise, they said the long-term prospects for the financial services sector remain strong although it is expected to lag behind the others in the first quarter.

David Cohen, director of Asian economic forecasting at Action Economics, said: "Those numbers can fluctuate quarter on quarter, and as far as the financial services, the outlook is still bright in the long term. The fact that the stock market has bounced back nicely from a year ago should help support investment activity."

As for 2011, GDP growth estimates for Singapore came in at 5.5 percent. Experts said the lower expectation is the result of the inventory restocking cycle being over, and concerns over the pace of recovery in the more developed OECD economies.

- CNA/yb/ir

Marina Bay Sands staff move into complex

SINGAPORE : Staff of Marina Bay Sands have started to move into their new home at Bayfront Avenue, as they prepare for the resort’s opening on April 27.

The first team moved in just after 9am on Monday, an auspicious time according to the Marina Bay Sands’ feng shui consultant.

Teams from Food & Beverage, Hotel Housekeeping, Facilities and IT were the first to move in.

By the end of next month, thousands of employees would have moved in.

Staff will be served hot cooked meals at two dining rooms.

The two staff dining rooms are expected to serve 2.5 million meals a year round the clock. — CNA/ms

Channel NewsAsia - Tuesday, March 9

Property launches to go into high gear

DEVELOPERS are gearing up to launch more projects - especially prime ones - into a thriving property market driven by confident buyers keen to splash out on the back of the improving economy and a low interest rate environment.

The Government's anti-speculation moves last month are having little effect on genuine home hunters, who have ever wider real estate options.

Potential buyers will certainly have no lack of choices when it comes to new launches this month with 'easily half a dozen launches' coming up, said CB Richard Ellis (CBRE) executive director of residential services Joseph Tan.


Mass-market projects have been setting the pace for months but prime developments, which began inching back into the market late last year, are becoming more prevalent.

A CBRE Research report yesterday said that Singapore's luxury residential market is expected to make a strong rebound.

It noted that new luxury projects recorded launch prices of between $2,500 and $3,400 per sq ft (psf) in the fourth quarter of last year.

This beats the $2,100 psf to $2,700 psf range achieved at the end of 2008, demonstrating a strong turnaround, it said.

In January and February, 88 units of CapitaLand's prime Urban Suites were sold at $2,500 psf on average while about 35 units of The Laurels in Cairnhill Road went at $2,500 psf to $2,900 psf, it said.

The launches coming up on the weekend include the Hiap Hoe Group prime estate Waterscape At Cavenagh, and Hong Leong Holdings' Aalto.

The Waterscape At Cavenagh will house 200 one- to four-bedroom units and penthouses ranging from 581 sq ft to 2,992 sq ft. Prices at this weekend's launch will be about $1,880 per sq ft.

Hiap Hoe gave a preview of the project in late November and sold just three units at a median price of $1,909 psf. Another five units were sold in December. But this year it has sold 88 units, with the bulk transacted over the weekend after Chinese New Year, from $1,715 psf to $2,020 psf or $1.03 million to $3.15 million.

This weekend will also see Hong Leong Holdings release 60 high-floor units at the freehold 196-unit Aalto in Meyer Road. Prices will start from $2,000 psf.

A handful of lower-floor units are also available, from $1,500 psf. Absolute pricing ranges from $3.1 million for a 1,442 sq ft three-bedder to $5.3 million for a 1,959 sq ft four-bedroom unit.

The Aalto was first released in 2007 with units selling for around $1,950 psf. It was then launched in January 2008.

One unit was sold in January this year at $2,011 psf, leaving 78 unsold units in the condo, which will receive its temporary occupation permit in September.

A Hong Leong Holdings spokesman said: 'We have maintained the original selling price of the Aalto in light of premium value and location.'

Next weekend, buyers can look forward to Cheung Kong Holdings' The Vision in West Coast Crescent, The Laurels and Tiong Aik's Coralis in Joo Chiat Road. The Vision, a 99-year leasehold condo, is said to be priced about $1,100 psf.

Coralis is a freehold condo featuring one-bedders as small as 495 sq ft and penthouses of up to 3,089 sq ft. Indicative pricing is from $1,350 to $1,550 psf.

The pace will quicken over the next two to three months with possible launches including 76 Shenton Way, Seascape and Residences at W in Sentosa Cove, The Waterline on the former Toho Gardens site in Yio Chu Kang, UOL Group's Dakota Crescent project, and Starlight Suites in River Valley Close.

CBRE Research said the luxury projects Ardmore 3 and those on the sites of the old Grangeford, Hillcourt and Parisian estates are likely to be marketed in the first half of the year. Prices and rents of luxury properties are expected to rise by 10 per cent to 15 per cent and 5 per cent to 10 per cent respectively this year.

Overall, prices will continue to rise but at a much less frenetic pace, said Mr Tan. 'If you look at the recent land tenders, there's a certain replacement cost that developers need to look at. Some developers may want to put a forward price on their projects now as they don't want to run out of their landbank too quickly.'

Sat, Mar 06, 2010
The Straits Times

Prices of new luxury homes surge

Upmarket residential property rentals could climb 5-10% this year: CBRE
LAUNCH prices of new luxury residential projects in Singapore rose about 20-25 per cent last year and could appreciate a further 10-15 per cent this year, says CB Richard Ellis.

Rentals of completed luxury homes, which slid 10.5 per cent in 2009, could increase 5-10 per cent this year, according to the property consulting group.

Already, in the first two months of this year, prices have been climbing steadily, CBRE said, citing sales of 88 units at Urban Suites at $2,500 psf on average and about 35 units at The Laurels at $2,500-2,900 psf, although the latter features smaller units. Both projects are in the Cairnhill area.

Other luxury projects that will be marketed in the first half of 2010 include Ardmore 3, Nassim 8 and those on the sites of Grangeford and Parisian, CBRE said.

The Singapore residential property launch meanwhile continues to teem with activity in various market segments.

At Meyer Road, Hong Leong Holdings is releasing this week close to 60 upper-floor units at Aalto, a 27-storey freehold condo with a total of 196 units. Prices will start from $2,000 psf.

'Absolute pricing ranges from $3.1 million for a 1,442 sq ft three-bedder on the 18th floor to $5.3 million for a 24th level four-bedroom apartment of 1,959 sq ft,' the company said in a statement yesterday. A handful of lower-floor units are also available, from $1,500 psf.

The project was first launched in early 2008 and as at end-January this year, 118 units had been sold. Aalto comprises three and four bedroom apartments and penthouses. It is expected to receive Temporary Occupation Permit in September this year.

Hiap Hoe is also doing an official launch of its 200-unit Waterscape At Cavenagh this week. So far, it has sold 96 units. The average selling price is about $1,880 psf. The seven-storey freehold condo comprises one-to-four-bedroom apartments, and penthouses.

Later this month, Hong Leong Group could release a 202-unit project on the former Ong Building site at 76 Shenton Way. TID Pte Ltd - a joint venture between Hong Leong and Mitsui Fudosan - is also expected to preview in a few weeks Nathan Suites, a 24-storey project at Nathan Road, opposite the Malaysian High Commission. The project's 65 units comprise two, three and four-bedroom apartments as well as penthouses.

CBRE, in its release on the luxury residential market, said that recent sales activities point to the start of a revival in this market segment. 'It is likely that this interest in luxury homes is sustainable given the low interest rates and improving economic environment,' the firm's executive director, Li Hiaw Ho, said.

However, he predicts that 'we are unlikely to see runaway prices the way we did in 2007 as homebuyers will be less impulsive and more discerning following the latest government measures' to cool the market.

Back then, average launch prices of new luxe projects jumped from $1,800-2,600 psf in 2006 to $2,000-4,000 psf in 2007.

Overseas buyers returned at upmarket property launches in Singapore in Q4, as seen at Marina Bay Suites, Urban Suites, and Kasara the Lake, a plush villa development at Sentosa Cove. This bodes well for the market segment.

Elsewhere in Asia, prices of luxury homes in the secondary market edged up in Beijing, Shanghai, Guangzhou and Hong Kong by 6-10 per cent in Q4 2009 over the preceding quarter while remaining largely stable in other markets.

Singapore saw a 2.7 per cent quarter-on-quarter gain in average prime residential price in the secondary market to $2,260 psf in the fourth quarter. Despite strong sales, leasing demand for luxury homes remained rather fragile in some cities, with Beijing, Guangzhou, KL and Ho Chi Minh City posting a modest rental drop in Q4.

Leasing markets in Hong Kong, Shanghai and Bangkok began to gradually recover, with rents for luxury homes rising by increments ranging from one per cent in Bangkok to 6 per cent in Hong Kong.

Looking ahead, CBRE forecasts that end-users and investors may adopt a more cautious approach in the next couple of months following the introduction of measures that tighten lending for property in certain markets.

Sat, Mar 06, 2010
The Business Times

Hot!, Sentosa Cove New Launching

A Prestigious Sentosa Project By CDL
**An Address that recognizes the status**
(Target Launch Date : 3rd or 4th week of March 2010)

Condo with Ocean View & Berth View
Integrated developments with Retail, Hotel & Residential

Branded Residences
Hotel services
The services from hotel are fee-based and may be modified according to availability
These services will be available after the Hotel is opened

Basic services
Concierge services, Welcome Ambassador,

Director of Residential Services, Security guards,

Pool Attendant, Buggy Driver,

Maintenance of common areas with uniformed staff

Waterfront Living and Lifestyle
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Hip & Trendy Architectural
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Berthing facilities for the residential
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Efficient double frontage orientation
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Limited Supply in Sentosa Cove
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Unique selling features
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All 3 & 4 brm ground floor units have private spa pool

and all penthouses have either spa pool or private pool
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Preliminary Information of the Development
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Location : 1, 3, 5, 7, 9, 11, 13 Ocean Way

Tenure of Land :99 years with effect from 31 Oct 2006
District :04
Residential Site Area :23, 263.40 sqm/ 250,407 sqft
Plot Ratio :1.6
Total Units: 228 units
Expected T.O.P :30 Oct 2012
Description :
Proposed Condominium Housing Development
comprising 7 Blocks of 6 storey Residential Flats with attic, one basement car park & swimming pool
No. of Car Park lots :244 basement parking lots excluding of 2 buggy lots.
No. of Units :228 units

Normal Units Types:
2 BRM (PES): 6 units (1,270 - 1,292 sqft)
2 BRM (Typical): 36 units (1,227 - 1,259 sqft)
3 BRM (PES with spa pool): 16 units (1,948 - 2,616 sqft)
3 BRM (Typical): 70 units (1,625 - 1,755 sqft)
4 BRM (PES with spa pool): 12 units (2,422 - 2,486 sqft)
4 BRM (Typical): 54 units (2,067 - 2,131 sqft)

Penthouse Types:
2 + Study: 4 units (2,217 - 2,228 sqft)
3 BRM: 12 units (2,508 - 2,573 sqft)
4 BRM: 10 units (3,240 - 3,348 sqft)
4 + Study: 3 units (3,972 - 3,929 sqft)
5 BRM: 5 units (4,898 - 6,297 sqft)

For Enquiries :

SMS

[Project Name] [Room Type] [Your Email Address]

065-8181-7777

W Hotel slated to open in Sentosa Cove in 2011

IT IS confirmed: the trendy W Hotel chain will open its first Singapore premises in Sentosa Cove in 2011.
The 250-room hotel will be part of the Quayside Isle Collection, a mixed lifestyle development being built by City Developments (CDL) that will include homes, shops and restaurants.
Quayside's 228 homes are said to be planned as W-brand residences - one of the first in South-east Asia, after the W Koh Samui Retreat and Residences in Thailand to be completed next year.
Fri, Oct 23, 2009
The Straits Times
By Fiona Chan

Marina Bay Sands integrated resort to open in phases from Apr 27

SINGAPORE: The Marina Bay Sands integrated resort has announced it will start operations in phases from April 27.

Phase One will see its casino, celebrity chef restaurants and some retail outlets open to the public.

In about two months, some of these construction cranes would have disappeared.

963 hotel rooms will open for bookings, out of the 2,600 planned for the integrated resort.

Its convention centre will stage its first event and the casino will see its first punters.

At least, that's the plan according to Marina Bay Sands.

The rest depends on whether construction schedules will be kept and if it receives the necessary regulatory approvals.

Phase two will see the SkyPark and additional retail joints open on June 23.

Plans for the S$7.8 billion integrated resort started nearly four years ago and it's said to be the most expensive development of its kind.

The project has weathered its share of challenges along the way, including high construction costs during the previous economic boom and more recently, the global financial crisis and difficulties in meeting its recruitment targets.

Construction delays have also pushed back opening day by several months behind its competitor, Resorts World Sentosa.

But analysts said any first-mover advantage will matter little in the long run.

They added that Marina Bay Sands may in fact edge out its rival because its parent company, Las Vegas Sands Corp, has more experience in international markets.

Still, some teething problems may occur, like those experienced by Resorts World.

And like Resorts World, Singapore's second casino will be expected to implement social safeguards against problem gambling.

These include entry levies and voluntary loss limits.

By Hoe Yeen Nie, Channel NewsAsia

Home buyers still flock to showrooms despite new property

New measures kicked in on Saturday to curb speculation in the property market.
A Seller's Stamp Duty will be imposed on all residential properties bought on Saturday and sold within one year, while housing loans from financial institutions will be capped at 80 percent of property value.

Are they taking the buzz out of the property market? Not yet - at least not for those who are buying for the long-term.

It was business as usual at one property showroom on Saturday, as a steady stream of visitors checked out the units available. Sales of units at the Altez condominium - located just opposite Tanjong Pagar MRT station - are moving fast.

One woman in her 30s snapped up four units - two to stay in and two to rent out.
The condominium's developer said they could still sell an entire floor of units within an hour.
Some home buyers said the reduction in the home loan limit did not make much of a difference.
Home buyer Raphael Tan said: "The banks have been very strict, anyway. So I think we will still be on track for our financing."

And those who are buying for the long-term are not worried about the new Seller's Stamp Duty.
Doris Chia, another home buyer, said: "Although it's quite pricey now, I think this is a good location and for long-term investment."

Analysts expect developers to launch more high-end properties in the first half of this year.
These properties typically sell at S$2,000 per square foot and attract buyers and investors who are less price-sensitive.

Donald Han, managing director of Cushman and Wakefield, said: "A lot of the high-end investors are typically not bound by any limitation. They don't go for maximum loan-to-value ratio. In some cases, they just go for 40 to 50% of loan-to-value ratio. In some cases, they even buy on a cash basis."

Analysts said the mood to buy won't change much as the measures are meant to flush out speculators, who make up a small percentage of the market. Meanwhile, Senior Minister of State for National Development Grace Fu said that now is the time to introduce measures to control the private property market. She said the authorities have been studying the property market closely and that it is best to introduce the measures before the property bubble forms.

"We would think that it may deter speculative buying and we want our investors to basically be on the more solid ground when they invest in properties. It should not deter genuine buyers who have the financial resources to hold the property."
- CNA/ir

Government announces 2 measures to cool property market

The Government has introduced two new measures to cool the property market and pre-empt a bubble from forming in the private homes sector. They come into effect Saturday.

The Ministry of National Development said this will help ensure a stable and sustainable property market, and to curtail the HDB resale market where prices tend to track private property movements.

From Saturday, it will be more difficult and expensive for speculators to own and flip properties. A Seller's Stamp Duty will be imposed on all residential properties and residential land bought after Friday, and sold within one year from the date of purchase.

The housing loan limit will also be capped at 80 per cent - down from the current 90 per cent.
This new loan limit will apply to all housing loans granted by financial institutions for private homes, executive condominiums, HUDC flats and HDB flats, including those sold under the Design, Build and Sell Scheme. But loans granted by the Housing and Development Board (HDB) for flats, will still have a cap of 90 per cent.

Last September, the Government introduced anti-speculative measures to cool the private homes market. While these helped initially, there were signs the market was heating up again.
The new measures come as demand for private homes continues to soar. The number of units sold by developers in January was three times more than December. It was also the highest monthly total since September last year.

The Ministry said the objective of these measures is to discourage short-term speculative activity that could distort underlying prices. It is not targeted at the purchase of properties for owner occupation or longer term investment.

Market watchers said the measures are easiest to implement, without causing the market to come to a standstill.

Eugene Lim, associate director, ERA Asia Pacific said: "We are recovering. The economy is recovering and the market is picking up so what they want to do is to make sure the property market is moving up in tune together with the economy and not faster than the economic recovery."

Analysts added that the prices and volume of private property homes are unlikely to be significantly impacted.

Donald Han, managing director, Cushman & Wakefield said: "It has got a fairly minimal impact to the market, mainly because a lot of investors from our records are buying for the medium term, at least for a period of two to three years.

"Some investors will probably stand by the sidelines and see how sales progress into February and March. It will take some wind out of the market; potentially it could be around 10-15 per cent in terms of the numbers of new home sales taken out of the equation."

The Real Estate Developers' Association of Singapore said the reduced mortgage cap is unlikely to have significant impact on genuine buyers and investors, as lending institutions have already been more prudent in the aftermath of the global financial crisis.

- CNA/sc

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MRT STATIONS NEARBY

Somerset MRT: 370 m
Orchard MRT: 650 m
Newton MRT:1 km
Dhoby Ghaut:1.01 km

SHOPPING CENTRES

The Heeren SC: 180 m
Paragon SC: 250 m
Orchard SC: 260 m
Centerpoint SC:280 m
Orchard Central SC: 320 m313
Orchard SC: 300 m
Ngee Ann City SC: 280 m
Wisma Artia SC: 340 m
ION Orchard SC: 370 m
Plaza Singapura SC: 870m
...and More

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CHATSWORTH INTERNATIONAL SCHOOL
37 Emerald Hill Road (S) 229313
Distance :150 m

ANGLO-CHINESE SCHOOL (JUNIOR)
16 WINSTEDT ROAD, SINGAPORE 227988
Distance :710 m

OVERSEAS FAMILY SCHOOL (OFS)
25F Paterson Road 238515
Distance :760 m

JHS MONTESSORI KINDERGARTEN
332, River Valley Road 238364
Distance :880 m

ENQUIRY ABOUT THIS NEW LAUNCH


PLEASE INDICATE YOUR CONTACT NUMBER IN THE MESSAGE

New road network in Marina Bay area

A new road network will be built progressively in the new downtown Marina Bay area as part of the Land Transport Authority’s new developments in 2010.

This is to serve upcoming developments such as the Marina Bay Sands Integrated Resort and the Marina Bay Financial Centre.

Motorists travelling to the Marina Bay Sands Integrated Resort can soon use a new bridge and road.

The Bay Bridge connects directly across the Marina Centre to Marina Bay.

Motorists can then continue along Bayfront Avenue towards the Marina Bay Financial Centre.

With the opening of the 1.4 kilometre bridge and road, a new ERP gantry will also be installed.

Yam Ah Mee, chief executive, Land Transport Authority, said: "Together with the Bayfront Avenue road, there’s a need to adjust the CBD cordon and having a new ERP gantry at that location. So that the overall, CBD cordon comprising of the Orchard cordon, the Shenton—Chinatown cordon and the Marina City cordon remains intact.

“And that’s the reason why we are closing the CBD cordon and adjusting it with this new ERP gantry."

The Bayfront Avenue ERP gantry will be up by end—March.

To further adjust the CBD cordon, three more ERP gantries will be erected and will be operational in the third quarter of this year.

The existing gantry along Central Boulevard will be replaced by a new one at Marina Way.
Two other gantries will be on the other side of Bayfront Avenue and Marina Station Road.

In other developments, motorists can look forward to the opening of the Bartley viaduct on Sunday.

The 1.9 kilometre long viaduct marks the completion of the Bartley extension project.

Mr Yam said: "With the opening of the Bartley viaduct, motorists can expect travelling along Tampines Avenue 10 to Bartley to have a time saving of about 10 to 15 minutes and also alternatives to PIE. We expect that up to about five to 10 per cent of motorists, may consider alternatives of travelling on the Bartley viaduct instead of going through PIE."

The Bartley Road extension project, which started in 2000, costs S$208 million.

Source: CNA/vm