Singapore, Malaysia finalise land swap deal
By S Ramesh | Posted: 20 September 2010 1614 hrs
SINGAPORE : Singapore and Malaysia have settled a land swap agreement for four land parcels in Marina South and two land parcels in the Ophir-Rochor area.
This goes toward implementing the 1990 Points of Agreement (POA) on Malaysian Railway Land in Singapore.
These details were revealed by Singapore Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak after they met in Singapore on Monday.
The Singapore government will vest the four land parcels in Marina South and the two land parcels in Ophir Rochor in M-S Pte Ltd - the company formed to look into the implementation details.
This is in lieu of the three parcels of POA land in Tanjong Pagar, Kranji and Woodlands, as well as parcels of land in Bukit Timah.
Giving details, a joint statement said the four Marina South parcels are located at the heart of the financial business cluster in Singapore's Marina Bay.
The two Ophir-Rochor parcels are located next to the Kampong Glam historic district in a new growth corridor that is being developed as an extension of Singapore's Central Business District. - CNA /ls