SINGAPORE: Two schemes aimed at rejuvenating Singapore’s city centre by bringing in more homes and redeveloping older commercial buildings in the central business district and other strategic areas will be extended for five years, Minister for National Development Desmond Lee said.
The National Development ministry will also make some refinements and changes to the two schemes - the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes - to ensure that they “continue to support Singapore’s strategic objectives and remain relevant to our industry”, said Mr Lee on Friday (Feb 7).
Speaking at the Real Estate Developers’ Association of Singapore’s Spring Festival luncheon, Mr Lee said that the authorities had completed a review of the CBDI and SDI schemes which were introduced in November 2019.
The CBDI scheme seeks to encourage the conversion of older office buildings in the CBD into mixed-use developments. It grants developers a higher maximum allowable gross floor area in return for converting office spaces into residential units or hotels.
The SDI scheme encourages the redevelopment of older developments in strategic areas to positively transform the surrounding urban environment.
Mr Lee said both schemes have been well-received, and most of the 17 CBDI and 12 SDI proposals have been granted in-principle approval.
Four CBDI projects in the Anson-Tanjong Pagar neighbourhood - Newport Plaza, The Skywaters, 15 Hoe Chiang Road and 51 Anson Road - are undergoing construction.
When these projects are completed, the Anson-Tanjong Pagar area "will be transformed into a vibrant mixed-use urban neighbourhood with more than 1,000 new homes, hotels, shops and eateries, as well as new public spaces and more active street fronts", Mr Lee said.
The CBDI and SDI schemes will be refined in two ways.
First, developments in the Anson and Cecil areas will now have greater flexibility to retain their commercial use under the CBDI scheme, provided they include long-stay serviced apartments, Mr Lee said.
Unlike typical serviced apartments, which have a minimum rental period of seven days, long-stay serviced apartments require tenants to stay for at least three months.
Previously, this flexibility was only available to office developments in the Tanjong Pagar, Robinson Road, and Shenton Way areas, where retaining commercial use zoning was allowed under the CBDI scheme if a significant portion of office space was converted to non-commercial uses.
Mr Lee said the change aims to offer more housing options for those who want to live near their workplaces and city amenities. This also comes after industry feedback that extending this option to Anson and Cecil could enhance the appeal of the CBDI scheme.
Second, the updated CBDI and SDI schemes will introduce new sustainability requirements for redevelopment proposals.
Applicants will have to submit a sustainability statement assessing the feasibility of retrofitting part or all of the existing building, said Mr Lee. The sustainability statement will be reviewed by the Urban Redevelopment Authority, Building and Construction Authority and relevant agencies.
An additional carbon optioneering assessment, which weighs the carbon emission trade-offs of different development scenarios, may also be required for planning approval.
“This means that in order to qualify for the incentives, our developers and building owners will now need to also consider ways to reduce the environmental impact of redevelopment,” he said.
While the authorities support efforts to revitalise and rejuvenate the city centre through redevelopment, Mr Lee emphasised the importance of avoiding “wasteful demolition and excessive rebuilding, especially if the buildings are relatively young, or still in good shape”.
“Existing buildings are made up of precious resources and embodied carbon. Tearing down buildings prematurely - especially if they are young buildings, would therefore not only waste valuable resources, but also generate significant carbon emissions through the demolition and rebuilding process,” he added.
Mr Lee said the key to meeting net zero target goals in the industry is to “strike a balance ... between a brand new redevelopment and retrofitting and enhancement”.
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The National Development ministry will also make some refinements and changes to the two schemes - the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes - to ensure that they “continue to support Singapore’s strategic objectives and remain relevant to our industry”, said Mr Lee on Friday (Feb 7).
Speaking at the Real Estate Developers’ Association of Singapore’s Spring Festival luncheon, Mr Lee said that the authorities had completed a review of the CBDI and SDI schemes which were introduced in November 2019.
The CBDI scheme seeks to encourage the conversion of older office buildings in the CBD into mixed-use developments. It grants developers a higher maximum allowable gross floor area in return for converting office spaces into residential units or hotels.
The SDI scheme encourages the redevelopment of older developments in strategic areas to positively transform the surrounding urban environment.
Mr Lee said both schemes have been well-received, and most of the 17 CBDI and 12 SDI proposals have been granted in-principle approval.
Four CBDI projects in the Anson-Tanjong Pagar neighbourhood - Newport Plaza, The Skywaters, 15 Hoe Chiang Road and 51 Anson Road - are undergoing construction.
When these projects are completed, the Anson-Tanjong Pagar area "will be transformed into a vibrant mixed-use urban neighbourhood with more than 1,000 new homes, hotels, shops and eateries, as well as new public spaces and more active street fronts", Mr Lee said.
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CHANGES TO CBDI, SDI SCHEMES
The CBDI and SDI schemes will be refined in two ways.
First, developments in the Anson and Cecil areas will now have greater flexibility to retain their commercial use under the CBDI scheme, provided they include long-stay serviced apartments, Mr Lee said.
Unlike typical serviced apartments, which have a minimum rental period of seven days, long-stay serviced apartments require tenants to stay for at least three months.
Previously, this flexibility was only available to office developments in the Tanjong Pagar, Robinson Road, and Shenton Way areas, where retaining commercial use zoning was allowed under the CBDI scheme if a significant portion of office space was converted to non-commercial uses.
Mr Lee said the change aims to offer more housing options for those who want to live near their workplaces and city amenities. This also comes after industry feedback that extending this option to Anson and Cecil could enhance the appeal of the CBDI scheme.
Second, the updated CBDI and SDI schemes will introduce new sustainability requirements for redevelopment proposals.
Applicants will have to submit a sustainability statement assessing the feasibility of retrofitting part or all of the existing building, said Mr Lee. The sustainability statement will be reviewed by the Urban Redevelopment Authority, Building and Construction Authority and relevant agencies.
An additional carbon optioneering assessment, which weighs the carbon emission trade-offs of different development scenarios, may also be required for planning approval.
“This means that in order to qualify for the incentives, our developers and building owners will now need to also consider ways to reduce the environmental impact of redevelopment,” he said.
While the authorities support efforts to revitalise and rejuvenate the city centre through redevelopment, Mr Lee emphasised the importance of avoiding “wasteful demolition and excessive rebuilding, especially if the buildings are relatively young, or still in good shape”.
“Existing buildings are made up of precious resources and embodied carbon. Tearing down buildings prematurely - especially if they are young buildings, would therefore not only waste valuable resources, but also generate significant carbon emissions through the demolition and rebuilding process,” he added.
Mr Lee said the key to meeting net zero target goals in the industry is to “strike a balance ... between a brand new redevelopment and retrofitting and enhancement”.
Continue reading...