The Urban Redevelopment Authority (URA) has unveiled two incentives: one seeks to liven up the central business district (CBD) with a broader mix of uses including residential; the other aims to encourage owners of existing commercial buildings in strategic areas including Orchard Road to team up with neighbours for comprehensive redevelopment with bold proposals that will transform the street or precinct. The URA also announced in conjunction with the release of its Draft Master Plan 2019 that it is doing away with the Bonus Plot Ratio scheme. The newly-minted CBD Incentive Scheme, which applies to existing predominantly office developments in selected areas, aims to encourage the conversion of older office developments into mixed-use projects by offering an increase in gross plot ratio. This allows more gross floor area to be built. Singapore’s CBD is dominated by offices, which means things quieten down significantly at night and on weekends. The incentive addresses this issue by encouraging a wider diversity of uses, including more residences, hotels and creative lifestyle possibilities – to inject a bigger live-in population into the CBD. The creation of mixed-used neighbourhoods in the CBD-fringe areas of Cecil Street and Anson, with greater extent of residential uses supported by a variety of social/community amenities. A blend of mixed uses within Robinson Road, Shenton Way and Tanjong Pagar, while retaining the predominantly commercial character of the traditional Raffles Place financial district.
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- Strong interest for Alexandra GLS site
- New regulation to determine maximum number of residential units
- Price rebounded in 2nd Quarter of 2012
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- Smoking Ban On Balconies