RTS AND SEZ
Dr Wong said that while the heightened demand spells good news for property developers, this could also cause living expenses to be pushed up in Johor Bahru.
“There is going to be greater segmenting of income within JB because the city centre is going to become a wealthier district. That will send people who have lower incomes to the periphery,” he told CNA’s Singapore Tonight.
With the SEZ in the works, however, Dr Wong said the initiative would be beneficial for businesses in both cities.
“From a business perspective, there are synergies that Singaporeans and Malaysians can make that can take place in JB … that would enrich both cities. For example, export-driven sectors such as manufacturing can gain from (the SEZ),” he said, giving an example of Singapore companies setting up in Johor, where land, material and labour costs are lower, and where commuting will soon be easier.
On the Singapore side of the border, real estate analysts said they foresee an uptick in demand for homes near Woodlands North as the RTS nears completion, and expect new residential units to be added to the neighbourhood in the future.
The governments of the two nations celebrated a construction milestone in the RTS project on Thursday, with about 65 per cent of structural works completed on both sides.
The RTS Link is expected to start passenger service by December 2026.