Mr Chua Kheng Wee Louis asked the Minister for National Development (a) what is the Ministry’s assessment of the effectiveness and relevance of the Central Business District Incentive and Strategic Development Incentive schemes to date; and (b) whether these schemes will be modified or extended for the Draft Master Plan 2025.
Mr Desmond Lee: The Urban Redevelopment Authority’s (URA’s) Central Business District Incentive Scheme (CBDI) is intended to encourage the conversion of existing older office buildings into mixed-use developments in selected areas of the CBD, to inject a larger live-in population and greater mix of uses to rejuvenate the CBD. URA’s Strategic Development Incentive Scheme (SDI) encourages the redevelopment of older buildings and precincts in strategic areas across Singapore to positively transform the surrounding urban environment.
To date, URA has received 17 outline applications under CBDI – 13 applications have been given in-principle approval, of which, three are under development. URA has received nine outline applications under SDI – seven applications have been given in-principle approval, of which, two are under development.
We will continue to monitor the market trends and engage developers and industry professionals as part of Draft Master Plan 2025 to ensure that these schemes stay relevant.
Ministry of National Development
10 September 2024
https://sprs.parl.gov.sg/search/#/sprs3topic?reportid=written-answer-17677
Office of the Leader of the Opposition 