More private participation wanted in building up future city
Plans include rejuvenating Orchard Road, developing future precincts, and creating an urban logistics system
Singapore
PUBLIC-PRIVATE partnerships featured strongly in the Committee on the Future Economy's list of recommendations for the built sector on Thursday.
Among these were plans to work with private companies to rejuvenate Orchard Road, to place-make and develop future precincts, as well as to create an urban logistics system.
For the rejuvenation of Orchard Road, Minister for National Development Lawrence Wong told The Business Times in an exclusive interview that the revitalisation plans will have to be privately financed, but the government will continue to incentivise mall owners by adding gross floor area allowances to their developments.
As for the building of federated shared lockers island-wide as part of the urban logistics system, the government has not yet decided who will buil…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sunak says UK to raise defence spending amid global threats
China’s central bank hints it may add treasury bond trades to policy toolkit
US business activity cools in April; inflation measures mixed
India’s inflation at risk from extreme weather, geopolitical issues: central bank
Thailand to replace military-appointed Senate, reduce its powers
Bankers lose hope of London IPO revival for another year