New circleline and facilities to improve the attractiveness of Bishan Town Centre

Abstract

When Bishan Circle Line MRT begins operation in mid of 2009, it is foreseeable that more people will visit Bishan. The aims of this dissertation are to propose new or improve on the facilities to increase the attractiveness of Bishan town centre. After analyzing existing facilities, it was discovered that there is a need to expand the library for the visitors. A survey conducted with 188 people concluded the need for an air conditioned bus interchange. A cost benefit analysis was carried out to determine its feasibility. The costs and benefits for the propose air conditioned bus interchange was estimated based on the past projects done and adjusted to present value. Discount rates and gross domestic deflator for construction industry required for cost benefit analysis are extracted from financial report published by Singapore Land Authority and Singapore Department of Statistics. Two discount rates are used to illustrate different scenarios; the rates are 3.8% and 10%. Two proposals were come up with, and were compared with the possible net present value (NPV) and profitability index (PI). The ultimate decision of which project is to be implemented would depend on the decision criteria of the authorities. However, due to confidentiality issue, some cost related information could not be provided for the purpose of this dissertation. Therefore, evaluations are estimated based on the information available with some assumptions for the analysis. The new proposed facility would enhance the attractiveness of the town centre and provide a comfortable environment for passengers while waiting for bus. It would also provide more choices for the public transport commuters and benefits those who make use of the bus interchange and residents in Bishan.