one-north: From Vision to Singapore’s Leading R&D Hub

Since the 1990s, Singapore’s economic growth has shifted towards high value chain industries that rely on a high-skilled workforce. Structural reforms were made to promote innovation, enterprise and entrepreneurship. The Biomedical as well as Information and Communications Technology (ICT) industries are among the new key economic drivers that the Singapore government is pursuing. Investments were made to attract world-class research talents and infrastructure development resulting in a need to create an environment that allows for start-ups to grow and thrive. 

Hence, in the 2000s, JTC Corporation (JTC) was tasked to undertake the development of one-north as Singapore’s research and development (R&D) and high technology cluster. One-north was envisioned to have eight distinct precincts, each playing a unique role, and forming a hub for the respective industry clusters. 

Unlike other business parks that specialise in a single manufacturing industry, one-north supports a dynamic ecosystem. This helps foster better collaboration, which is key for firms in the research and knowledge sectors. 

Over the last 20 years, Singapore government has consistently invested about 1% of GDP annually in R&D – a proven investment that has borne fruit. Singapore’s biotech ecosystem was led by the construction of Biopolis, which has successfully served as a platform for biotech talent to gather and share knowledge.
 

In the 2010s, emphasis was placed on the work-live-play concept. Wessex Estate, for instance, offers homes that are tenanted to staff working nearby, including the iconic conserved black-and-white bungalows. As one-north’s workforce grew, co-living spaces, serviced apartments, hotels and condominiums were introduced into other precincts to facilitate community bonding. With further development, the ‘learn’ component was added, with the addition of INSEAD Asia Campus in Ayer Rajah, ESSEC business school and Unilever’s training centre in Nepal Hill. 

Currently, as a prominent research hub and a business centre for over 400 leading companies and 800 start-ups with 50,000 knowledge workers employed, one-north has attracted upwards of $8billion worth of investments. 

As a hub for high technology, innovation and a thriving startup ecosystem, it is little wonder why one-north has drawn comparisons with Silicon Valley, the world’s leading innovation hub that draws significant venture capital investments. 

Major industries driving one-north’s expansion

Biomedical, sciences and research 

Biopolis, the first cluster developed in one-north, primarily supports biomedical R&D. Dedicated to promoting collaborations between private and public scientific communities, it houses research institutes with labs for pharmaceutical and biotechnological companies. 

The development also includes spaces catered to private institutes with specialised capabilities, such as those focusing on neuroscience, immunology, and pre-clinical trials. Multi-national Corporations (MNC) such as Wilmar International and Procter & Gamble are headquartered in Biopolis. Elementum, a 12-storey biomedical science building also houses smaller firms supporting these MNCs in the upstream and downstream supply chain can establish themselves there for better synergy.

In addition, firms in the ICT, physical sciences and engineering industry are housed mainly in Fusionopolis. Mainly serving as a R&D hub, there are various organisations, high-tech companies and government agencies housed there. 

Tech, sciences, media and start-ups

Mediapolis plays a vital role in Singapore's infocom and media ecosystem. It houses studios including those in Mediacorp Campus and Infinite Studios, a 1.2-hectare soundstage facility. It also includes ALICE@Mediapolis, a privately-developed, green and smart multi-tenanted business park and office space for start-ups and  a base for established media firms.

Grab also opened its 9-storey headquarters located across Mediapolis. With an area of more than 42,000 square metres, the new Grab HQ houses approximately 3,000 employees, an R&D centre, and the first GrabMerchant centre. 

The neighbouring precincts, Launchpad and Ayer Rajah are home to start-ups, incubators and firms specialising in emerging industries. LaunchPad, also known as the cradle of Singapore’s blossoming start-up scene, allows for the test-bedding of ideas. Clustering similar firms together creates a synergistic effect, allowing like-minded budding entrepreneurs to thrive within their own eco-system. 

Amenities and Institutes of Higher Learning

Within the one-north precinct, there are two MRT stations – Buona Vista and one-north. There are also amenities near both MRT stations, Biopolis, Media Circle and Rochester Park to cater to residents’ needs. 

The National University of Singapore (NUS) and Singapore Polytechnic are in the vicinity of one-north. With an emphasis placed on knowledge-sharing and collaboration, firms, especially those doing research and these tertiary institutions can foster industrial-academia collaboration. 

Singapore Science Park 

Lying within the greater one-north community is the Singapore Science Park. Home to over 350 multinationals, companies, and laboratories, it is amongst Asia's most prestigious addresses for biomedical, R&D and technology development. Its close proximity to key research and tertiary institutions and Singapore's technology start-up community caters to the needs of companies such as Defence Science Organisation National Laboratories, TÜV SÜD PSB, AT&T, Institute of Microelectronics and Crimson Logic.

More recently, Geneo, located adjacent to Kent Ridge MRT station, was completed It is a mixed-use development comprises industrial (biomedical R&D), office and retail spaces, a serviced apartment, and open community spaces such as an event plaza and an outdoor fitness corner. The industrial component can increase the total working population of Singapore Science Park to 21,000, up from 12,000 currently. 

Taking one-north to the next step forward

Prime Minister Lawrence Wong announced during Budget 2025 that the government will refresh the public biosciences and med-tech research infrastructure in the greater one-north area. This will mean more investments to provide state-of-the-art facilities, promote collaboration within Singapore’s research community, and enable faster translation of research into commercial solutions. These investment commitments will ensure that one-north and Science Park will continue to develop into a thriving work-live-play-learn business park anchored by large high-tech firms. 

PM Wong further announced during Budget 2026 that a new artificial intelligence (AI) park, Kampong AI, will be completed in one-north. This new business park will consist shared workspaces and housing facilities to draw promising start-ups to set up in Singapore. This will create a more synergistic environment amongst AI founders, practitioners, researchers, and innovators to catalyse more collaborations and interactions. Beyond workspaces, there will also be amenities such as new event spaces, sports facilities, networking areas and eateries. When fully completed in 2028, the artificial intelligence park will have work, play and living spaces.

Private Homes in one-north

Currently, there are only five condominiums in the entirety of one-north, with two of them being new launches – Blossoms By The Park (275 units, launched 2023) and The Hill @ One-North (142 units, launched 2024). 

One-North Residences (405 units) and The Rochester Residences (366 units) were both launched in 2007, while One-North Eden (165 units) was launched in 2021. Buyers would have all made significant gains, in line with one-north’s development on a precinct level. Based on median price psf of all transactions, One-North Residences price growth was the most significant, rising 72.1% since launch. More recently, property prices at one-north Eden have grown 29.3% since its launch in 2021. 

Chart 1: Price performance of condos in one-north

More New homes to be added to support the workforce

One-north has been primarily seen as a workplace, housing local and foreign firms. With just five existing condominiums and 1 upcoming development currently in the precinct, the Urban and Redevelopment Authority (URA) understands the need to inject more housing. A larger stay-in population that can support the workforce will spur more development for the estate and createi a vibrant work-live-play-learn environment. The area will also be connected by cycling paths and covered walkways/linkways to improve first-mile connectivity.

Having more housing units in one-north will also cater to the large tenant pool of researchers and expats working in the firms there as well as lecturers and foreign student from the nearby NUS. This can provide a steady stream of rental income to investors of condos near one-north.

Media Circle (part of Mediapolis) will be the up-and-coming new residential cluster of one-north. Two of the sites have been awarded, by the same consortium comprising Qianjian Realty and Forsea Holdings. There another two GLS sites at Media Circle in the GLS Reserve List – a residential site with commercial use on the first storey and a site for long-stay serviced apartments. As of now, existing new units in one-north are only available at upcoming Bloomsbury Residences. However, the neighbouring Hudson Place Residences is set to be launched in May 2026. 

With both sites developed simultaneously by the same developers, better alignment of design intentions with the surroundings can be expected, resulting in a more seamless and cohesive integration.

Image 2: Map of Media Circle 

New developments at Media Cirlce

The site at Media Circle (Parcel A) recently closed with three bids, with the highest coming from a joint venture between QingJian Realty, Forsea, and Hoovasun. The winning bid of $1,037 psf ppr is about 13% lower than the $1,191 psf ppr they secured for a site last year. It was a good defensive move and buffered in headroom for more options to respond to any changes in market conditions in the future Another reason for the lower bid is that, unlike Bloomsbury Residences, the commercial component of Media Circle (Parcel A) will be part of the development's common area and will eventually fall under the care of the MCST. Nonetheless, the lower land price may not translate to lower selling price as considering higher-for-longer interest rates and and rising construction cost.
Furthermore, having both sites developed simultaneously by the same developers will allow for better alignment of design intentions with the surroundings, resulting in a more seamless and cohesive integration.

The Future of one-north

The injection of new residential developments into the precinct will further add to the rejuvenation. It is expected to transform Media Circle into a more vibrant mixed-use district. A larger live-in population could mean that the transport infrastructure will be upgraded to cater to the residents there. We can expect more frequent feeder buses t to connect residents to amenities and the MRT stations.

With further investments to take one-north to the next phase of development, particularly with the introduction of new AI firms, industrial and commercial growth is expected to strengthen. This could in turn support the creation of more jobs potentially giving rise to greater demand for homes in the precinct. 

Expanding the residential offerings in one-north will also accommodate the growing workforce. This provides an opportunity to investors to acquire a home here to capitalise on potential future price growth, and the large tenant pool for passive rental income. 

Interested to know more about what the estate offer to prospective homeowners and tenants? Speak to any ERA Trusted Advisor today to find out more!