Tanjong Pagar (alternatively spelled Tanjung Pagar) is a historic district located within the Central Business District in Singapore, straddling the Outram Planning Area and the Downtown Core under the Urban Redevelopment Authority’s urban planning zones.
The Economic Strategies Committee (ESC) – a government agency that “develops and recommend strategies to grow Singapore’s future as a leading global city in the heart of Asia” – has suggested that Singapore convert the Tanjong Pagar port area into a waterfront city, much like Marina Bay.
Tanjong Pagar has a lot of potential for development. In an interview with Straits Times, Grace Fu, Senior Minister of State for National Development said, “This area is very attractive, it is just at the fringe of the city, the size is comparable to another Marina Bay and it can offer immense opportunities to support future growth.”
She added, “Because of its proximity to the Central Business District, Sentosa and universities, Tanjong Pagar will give us lots of elements to work on and we’re quite excited about the potential.”
When nearby PSA Corporation’s lease on the land expires in 2027, the area can be redeveloped into a business district with apartments, hotels, lifestyle and tourism facilities.
These strategies are just suggestions, nothing concrete will come out of it at this point of time. Still, it’s always good to think ahead. Property investors with a long term view will see Tanjong Pagar as a place with growth.