Two incentives to rejuvenate the city

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.

The scheme was introduced in 1989 to allow for the intensification of commercial developments in close proximity to five designated MRT Stations in the Downtown Core, Museum and Orchard planning areas as well as developments in these areas w…