The Tan Chong Industrial Estate, which was established in the 1950s and located in the heart of Singapore, is set to become a private residential development. The development, which is being spearheaded by City Developments Limited (CDL), will be the first of its kind in the area and will provide a much-needed boost to the local economy.
The industrial estate was originally developed by the Tan Chong Motor Company, a leading manufacturer of automobiles and light industrial equipment. Since its establishment, the estate has been home to a number of businesses and factories, as well as providing employment to thousands of people in the area. However, in recent years the estate has seen a decline in activity, leading to a decrease in its economic contribution to the area.
In an effort to revitalise the area, CDL has come up with a plan to transform the industrial estate into a private …