Two incentives to rejuvenate the city
One scheme encourages mixed-use projects in CBD; the other promotes joint redevelopment to transform precincts in strategic areas. Bonus Plot Ratio scheme to go
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Singapore
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 on Wednesday in conjunction with the release of its Draft Master Plan 2019 that it is doing away with the Bonus Plot Ratio scheme.
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