Latest news with #DraftMasterPlan2025
Business Times
2 days ago
- Business
- Business Times
Government to simplify change-of-use process for some commercial spaces: Chee Hong Tat
[SINGAPORE] The government intends to cut some real estate-related red tape for businesses, starting with streamlining its change-of-use process, said National Development Minister Chee Hong Tat. During an interview with the media on Tuesday (Aug 5), Chee said businesses currently require the Urban Redevelopment Authority's (URA) permission for change of uses within commercial spaces in JTC business parks, as well as community centres managed by the People's Association. This process takes about two weeks and costs S$500. URA's permission is required for land-based solar farm projects as well, with its application costing S$3,500, said Chee. 'We are working on streamlining the process, such that URA's permission will no longer be required for such proposals,' he said. 'Business owners will just need to obtain the respective landowners' consent and comply with the relevant authority's requirements for their proposals.' At the same time, the Ministry of National Development will propose a new legislation to formalise the Business Improvement District (BID) programme. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Since 2017, URA's BID programme has been piloted in areas such as the Singapore River, Marina Bay, Raffles Place and Tanjong Pagar. It aims to encourage stakeholders to take greater ownership to make the area more vibrant and attractive. Under the programme, the government provides seed funding of up to S$500,000 per annum, through a dollar-for-dollar match for membership fees collected. The money then goes towards stakeholder-led place management initiatives, including targeted marketing, hospitality and events. Given the pilot's positive feedback so far, Chee said the authorities hope to formalise the BID model and scale up to more precincts across Singapore, collaborating with businesses to drive place management efforts. 'This will make our precincts livelier, bring businesses more footfall and benefit our community with more lifestyle options,' he said. 'This includes working with the businesses via the BID model to revitalise our nightlife industry.' Chee added: 'Reviewing our rules and processes is an ongoing process that we will do, and I hope to work closely with the industry to find out which other areas we can help them in, to simplify our rules and processes, to cut red tape, and to bring down processing time and costs for businesses.' Earlier in June, the government also revealed plans under the Draft Master Plan 2025 to review Singapore's industrial land use zone guidelines , to better respond to evolving business needs. Chee said then that moving away from mono-use zones to mixed-use districts will give developers greater flexibility on industrial land and enhance Singapore's economic competitiveness. More business-white sites will be introduced around key transport nodes in the Jurong and Tuas industrial estates, on top of existing sites in Woodlands, URA added, in the Draft Master Plan 2025.
Business Times
7 days ago
- Business
- Business Times
SG60: Reading between the lines of the Draft Master Plan 2025
SINGAPORE'S urban and economic planning has long been pragmatic, but the Draft Master Plan 2025 signals something new: boldness. In response to shifting global and domestic fundamentals, the plan reframes land use through emerging tools such as polycentric gateway corridors, and a more agile, layered approach to decentralisation. This isn't a wholesale reinvention, but a quiet recalibration, adapting Singapore's planning ethos to meet an era of slower growth, more complex trade-offs, and heightened geopolitical uncertainty. Decentralisation under pressure The once-ambitious model of decentralising offices beyond the Central Business District (CBD) is slowing. As companies right-size and consolidate their operations, many are returning to the city core, drawn by cost-efficiency, branding visibility, and a concentration of talent and services. The traditional rental premium once commanded by the CBD has eroded, narrowing the cost differential and weakening the incentive to decentralise – unless firms are tightly woven into local supply chains or talent pools. This trend is not entirely new, but Covid-19 accelerated it. Hybrid work has reduced the average office footprint per firm. Large tenants are less willing to anchor fringe locations unless there are compelling ecosystem advantages. Meanwhile, commercial confidence has been tempered by global uncertainty, from US-China tensions to regional trade realignments. In this context, even flagship decentralisation projects are evolving. Jurong Lake District, once envisioned as a major commercial node, saw the planned commercial quantum of the white site on the reserve list reduced by 30 per cent. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up While the long-term vision remains, near-term market sentiment is clearly influencing land release strategies. The return – and repositioning – of industrial land Beyond the commercial office market, Singapore's industrial landscape is entering a new chapter. Since 2022, roughly 36 hectares of industrial land have been returned to the state annually, a scale not seen since the 2015-2017 wave that preceded the last Master Plan. Then, as now, this land return reflects deeper structural shifts. Manufacturing is becoming less land-hungry. As companies digitalise and relocate lower-value operations to neighbouring countries, plots once allocated for logistics, clean tech or light manufacturing are being reassessed. The Draft Master Plan 2025 aims to stay ahead of this curve. While there are no radical rezoning moves in the downtown, the government is signalling flexibility. Incentives such as the CBD Incentive Scheme and the Strategic Development Incentive Scheme make it easier for older office buildings to be converted into mixed-use formats, shrinking pure office space while boosting residential and lifestyle offerings. The shift is also evident in the Government Land Sales (GLS) programme. There are no new confirmed downtown office sites, and only three white sites remain on the reserve list. This absence is likely intentional – a quiet nudge for landlords to explore adaptive reuse and a cue to the market that office decentralisation will now take a more tempered, organic form. Bishan returns to the spotlight One of the most intriguing updates is the re-designation of Bishan as a sub-regional centre, a role proposed initially in the 1991 Concept Plan. Back then, the idea was radical: decentralise Singapore's economic core and anchor new business activity in the heartlands. Today, Bishan already boasts strong transport connectivity, public agencies and community infrastructure that serve the broader Toa Payoh-Ang Mo Kio region. Its central location and direct access to Raffles Place via MRT make it an ideal candidate for polycentric growth. Together with Novena, Serangoon, and Toa Payoh, Bishan helps form a north-east arc of business activity – a 'string of pearls' that mirrors the southern belt stretching from Alexandra to one-north. Beyond convenience, this distributed model reflects a future in which live-work-play ecosystems are embedded into the islandwide urban fabric, rather than concentrated in a single hub. Vertical zoning: The next planning frontier Among the more speculative but intriguing concepts to emerge from the 2022 Long-Term Plan Review is the idea of 'vertical zoning'. The notion, layering light industry on the lower floors, offices above that, and residences at the top, was not formally proposed in the Draft Master Plan 2025. Still, it offers a glimpse of how Singapore might evolve its planning logic in response to changing economic and spatial realities. Seen in this light, vertical zoning is a conceptual provocation that asks whether future urban productivity might come not from expanding outwards, but from layering uses in smarter, more synergistic ways. If Singapore is serious about remaining spatially efficient and economically agile, this could be a frontier worth exploring further. While no specific developments have been announced, the pilot in Woodlands, which raises the allowable proportion of non-industrial uses from 40 to 70 per cent, may be an early signal of willingness to experiment. It echoes previous 'Business White' trials, which allowed greater flexibility in land use within designated business zones. If taken seriously, vertical zoning could represent a significant shift away from the traditional horizontal separation of uses that has long defined Singapore's land planning. It reflects a recognition that manufacturing today is cleaner and quieter, and that modern services are increasingly mobile and less reliant on sprawling floor plates. Sustainable and inclusive urban living In line with Singapore's push for environmental sustainability, new housing areas are being explored across the island, with a strong emphasis on reusing existing brownfield sites. Spaces such as Bukit Timah Turf Club, the old Keppel Golf Course, and the soon-to-be-vacated Paya Lebar Airbase are being considered for redevelopment into vibrant residential neighbourhoods. Besides building homes, these plans also aim to create active, socially connected communities, with shared amenities that support everyday life and bring people together. Many of these developments reflect a move towards vertical zoning, where housing is thoughtfully layered with community spaces and lifestyle facilities. A key planning principle is accessibility: Most residents will be within a 10-minute walk of parks, shops, schools, and essential services. As part of the broader 'live-work-play' vision, new opportunities for city and fringe-city living are also being introduced. Areas around Newton MRT station, Paterson Road near Orchard, and Dover-Medway near one-north have been earmarked for mixed-use development that balances inclusivity, sustainability and a strong sense of community. These well-connected neighbourhoods offer a good mix of amenities and entertainment, making them ideal for both families and working professionals. For instance, the idea of a new Village Square at Newton and a vibrant mixed-use hub at Paterson would help bridge luxury housing with the retail and activity of Orchard Road. The Draft Master Plan 2025 also puts greater emphasis on senior-friendly housing, including more assisted-living options and active-ageing centres to support older residents in living independently and meaningfully. Whether you're young or old, working or retired, the evolving urban plan seeks to make neighbourhoods more livable, connected and future-ready for everyone. Softer touch Even as it tackles hard economic questions, the Draft Master Plan 2025 doesn't lose sight of softer, human-scale priorities. Included among the proposals are plans for green connectors, heritage trails, repurposed viaducts, and playful public spaces. These aren't decorative add-ons; they are essential components of a livable, imageable city. Such spaces encourage social connection, promote mental well-being, and help Singapore remain globally competitive as a place to live, not just work. The Draft Master Plan 2025: A vision in transition More than a technical update, the Draft Master Plan 2025 reflects a society in flux, one that is learning from past successes, adapting to a slower-growth environment, and daring to imagine a more resilient, layered future. It is not a call to transform everything, but an invitation to reimagine selectively. To rethink what should be intensified, repurposed, or left open-ended. In that spirit, it strikes a balance: between continuity and change, between pragmatism and vision. The writer is head of research and consultancy, South-east Asia, at JLL
Straits Times
31-07-2025
- Business
- Straits Times
More new homes coming up in the northern part of Singapore
Sign up now: Get ST's newsletters delivered to your inbox Significant urban transformation is on the horizon for the northern part of Singapore. The recently announced Draft Master Plan 2025 details several major changes that will reshape the region, including the redevelopment of Sembawang Shipyard, the expansion of Woodlands Regional Centre and the repurposing of the former Singapore Racecourse. The Johor Bahru-Singapore Rapid Transit System (RTS), a crucial component of the Johor-Singapore Special Economic Zone (JS-SEZ), is set to be another 'game changer' that will benefit many businesses and landlords.
Straits Times
25-07-2025
- Business
- Straits Times
Work to build bridge linking Marina Centre and Gardens by the Bay to start in Q1 2026
URA said the bridge should make a visual statement in the Marina Channel and complement the design of the Benjamin Sheares Bridge. SINGAPORE – Work on a new pedestrian and cycling bridge in Marina Bay connecting Marina Centre to the Gardens by the Bay's Bay East Garden will start in the first quarter of 2026, with completion slated by 2029. The Urban Redevelopment Authority (URA) called a pre-qualification tender for the design and construction on July 17, requiring the structure to look simple, elegant and timeless, as well as have 'outstanding architectural merit'. The details came after an unveiling of these plans in URA's Draft Master Plan 2025 on June 25. According to tender documents published on government procurement portal GeBiz on July 17, the bridge will be built parallel to a section of the Benjamin Sheares Bridge linking Marina Centre to Tanjong Rhu. The bridge will facilitate the movement of pedestrians, cyclists and people with disabilities between Marina Centre and Bay East Garden, where the future Founders' Memorial will be situated, added URA. It said the bridge should also cater for mass events such as marathons, jogathons and walkathons. The bridge must be able to accommodate people mover systems such as buggies, to allow visitors to shuttle conveniently between Bay East Garden and the future Bay Central Garden at Marina Centre. Top stories Swipe. Select. Stay informed. Singapore SMRT to pay lower fine of $2.4m for EWL disruption; must invest at least $600k to boost reliability Singapore MRT service changes needed to modify 3 East-West Line stations on Changi Airport stretch: LTA Asia Live: Thailand-Cambodia border clashes continue for second day Singapore Etomidate found in blood of 2 people involved in fatal Punggol Road accident in May: HSA Singapore Vape disposal bins at 23 CCs for users to surrender e-vaporisers without facing penalties Singapore Fine for couple whose catering companies owed $432,000 in salaries to 103 employees Singapore Tipsy Collective sues former directors, HR head; alleges $14m lost from misconduct, poor decisions Singapore Kopi, care and conversation: How this 20-year-old helps improve the well-being of the elderly The Straits Times reported in 2022 that there were no immediate plans to develop the Bay Central Garden , which will feature a 3km waterfront promenade stretching from the Singapore Flyer area to Crawford Bridge in Kampong Bugis. Noting that the new bridge connecting the city to the East Coast area will be prominently positioned within the Marina Channel, URA said it will become a distinctive feature of the waterfront as it will be exceptionally visible from multiple vantage points. These points refer to a waterfront promenade at Marina Centre and the upcoming Bay East Garden in Gardens by the Bay, where residents and visitors gather for leisure. The authority added that the bridge will also form a backdrop for high-profile international events, including the Formula One Singapore Grand Prix and water sports competitions in the Marina Channel, so it must exhibit 'exceptional design excellence' to be on a par with the bridges nearby. Some bridges at the waterfront include the Jubilee Bridge, the Helix, the Benjamin Sheares Bridge and an upcoming one connecting Garden by the Bay's Bay South Garden and Bay East Garden. URA said the design of the new bridge should make a meaningful visual statement in the Marina Channel, while complementing the design of the Benjamin Sheares Bridge. It added that the deck – or walkway – of the bridge should have a 'lightweight appearance', as if it is floating above the water. The authority noted that while construction of the bridge is ongoing, the successful tenderer must still allow water-going vessels to travel along clear routes in the affected portion of the Marina Channel. The contractor should also ensure continuous public access – by foot or cycling – along a park connector network by maintaining alternative routes at Bay East Garden and Marina Centre. People now can get from Marina Centre to Bay East Garden via the Marina Barrage Dam. This route could take more than an hour by foot or around 20 minutes by cycling as it involves travelling down the Helix Bridge, along the waterfront of Gardens by the Bay, across the Marina Barrage Dam, and then along the waterfront of Bay East Garden. Alternatively, pedestrians can walk along the Benjamin Sheares Bridge, which is part of the East Coast Parkway expressway. This includes walking up and down several flights of stairs. The tender documents show that all construction work within the Marina Channel would need to be stopped during several upcoming large-scale international sporting events. These include the Asia Pacific Sprint Cup in April or May 2027, the Asian Dragon Boat Championships in October 2028, trial games for the 2029 SEA Games in the second half of 2028, as well as the SEA Games estimated to take place from June 2029, according to Sport Singapore. The tender documents also show that the Singapore Tourism Board requested a halt to structural work along or adjacent to the waterfront promenade eight weeks before and during the annual Formula One race periods. The other authorities involved as stakeholders in this tender include the National Parks Board that gave recommendations for the landscaping at both ends of the bridge, and national water agency PUB, which will oversee pollution control for the work. Another stakeholder is the Defence Science and Technology Agency (DSTA), which is currently involved in constructing NS Square at the former The Float @ Marina Bay site. This is because the appointed contractor will be sharing the only approved slipway along Republic Avenue with DSTA to carry out work. The scope of work listed in the tender includes the engagement of a lighting specialist to design night lighting for the bridge, a certified arborist and horticulturist to manage the trees, as well as a landscape specialist to design the greenery at both ends of the bridge. The tender for the design and construction of the bridge will close at 4pm on Aug 7.
Business Times
23-07-2025
- Business
- Business Times
Hotel Miramar Singapore close to sealing sale at under S$200 million
[SINGAPORE] A deal is said to be in advanced stages of negotiations for a sale of Hotel Miramar Singapore at 401 Havelock Road, near the Singapore River. The pricing for the 344-room hotel, on a site with a balance leasehold tenure of about 41.5 years, is expected to be below S$200 million. The hotel has significant value-add potential, including an opportunity to tap some 100,000 square feet (sq ft) of unutilised gross floor area (GFA), and repositioning the asset to a more upscale product. The Business Times understands that the prospective buyer is Aravest, a carve-out of the private funds business of ARA Asset Management unveiled last year. Aravest is owned by Japan's Sumitomo Mitsui Finance and Leasing (SMFL) Company units SMFL Mirai Partners (Singapore) and Kenedix. Industry players said Aravest will be teaming up with co-investors for the Hotel Miramar acquisition in Singapore. Aravest is expected to appoint an international hotel chain to manage and rebrand the property. Hotel Miramar Singapore is owned and operated by an eponymous company set up in 1968; its biggest shareholder is a company named Lim Tjhun Seng, which is controlled by two low-profile individuals with the surname Lim. Other shareholders of Hotel Miramar (Singapore) Limited include a few families from Singapore and Indonesia. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Savills Singapore executive director of investment sales and capital markets Yap Hui Yee marketed the hotel via a private expression of interest exercise which closed in March. According to industry players, a drawback of the property is that the authorities have turned down a request to top up the site's lease to 99 years. The 16-storey Hotel Miramar is on a 100,528 sq ft site; this is one of three hotel sites along the stretch of Havelock Road sold by the state about 57 years ago on 99-year leasehold tenures starting from February 1968. On the other two neighbouring plots stand Copthorne King's Hotel and Furama Riverfront Singapore (formerly known as Novotel Apollo and Apollo Hotel). The Urban Redevelopment Authority has retained the hotel zoning for the three sites under the Draft Master Plan 2025 unveiled last month. Also left untouched is the 3.5 plot ratio – which refers to the ratio of maximum GFA to site area – for the trio of sites. Industry observers said the authorities probably prefer to maintain flexibility on future plans for the stretch. Private-sector hotel deals on sites with short balance land tenures are not unheard of in Singapore in recent years; typically, buyers would be looking for an attractive yield and/or value-adding opportunities. Last year, Frasers Property sold the 313-room Capri by Fraser Changi City, near the Expo interchange MRT station, for S$171.8 million to a consortium comprising family office Atelier Capital Partners Singapore, TPG Angelo Gordon, Heeton Holdings and Far East Consortium International. The hotel, which has been rebranded Dorsett Changi City Singapore, is part of an integrated project on a site with a balance term of about 45 years at the time. The new owners have begun asset enhancement works to create additional hotel rooms by subdividing some rooms, while still maintaining some of the larger rooms popular with staycationers. Some underutilised space in public areas including the lobby will be converted into revenue-generating space such as restaurants. In late 2023, Viva Land – linked to convicted Vietnamese businesswoman Truong My Lan – sold the former SO/Singapore hotel on a site at 35 Robinson Road with about 47.5 years' balance lease. The property was bought by a consortium that included the Tan family behind Sunray Woodcraft Construction and Mini Environment Service. Mingtiandi reported the price at around S$170 million to S$180 million. Hotel Miramar's guest rooms have an average room size of 26 square metres (about 280 sq ft); the rooms are on levels five to 16 in two towers. The hotel rooms are above a four-storey commercial podium which includes the hotel lobby as well as office and food and beverage/retail units for lease. Behind the commercial podium and two towers is a four-storey carpark block with nearly 200 car parking spaces. The carpark is connected to the hotel towers. The incoming owner is expected to embark on asset enhancement works such as upgrading existing rooms. There is potential to increase the room inventory by tapping around 100,000 sq ft of unutilised GFA to build a new hotel wing – which could be located where the multi-storey carpark is – subject to approvals by the relevant authorities. Another way to increase the room count would be to subdivide some of the existing rooms in the two towers. An industry player said there is scope to uplift the ambience of the hotel by injecting more greenery and having a biophilic design. Appointing an international hotel management chain to rebrand and operate the hotel should improve operational efficiency and revenues. In March last year, ESR Group announced the sale of ARA Asset Management's private funds business in Australia, Singapore, South Korea and the US to the two SMFL units. The consideration was based at an enterprise value of US$270 million. The divestment came two years after ESR completed its buyout of Singapore-based ARA Asset Management, co-founded by Singaporean John Lim and backed by Hong Kong billionaire Li Ka-shing. Additional reporting by Chong Xin Wei
