Property analysts believe the area will also be rejuvenated as it now lacks new residential and commercial developments.
The Bedok Bus Interchange will receive a facelift in the fourth quarter of next year (2011). The bus interchange, together with a piece of land next to it, will be transformed and incorporated into a 13-storey residential cum commercial building.
CapitaLand's integrated development will have about 500 residential units, which make up about 60 per cent of the project. The remaining 40 per cent will be allocated to two basement levels of shopping area.
CapitaLand said the project will cater to about 300,000 residents living around the area, which is said to be the largest HDB estate in Singapore.