Singapore Property: Our dreams, our children’s future
- URA’s latest long-term review of Singapore land use transformation is anchored around livability and sustainability
- Rejuvenation of the CBD and emergence of polycentres to bring jobs closer to homes
- Industrial land use could change with rejuvenation in the next wave for industrial landlords
- New housing options at existing Paya Lebar Air Base and a new “long island” along the Southeastern Coast of Singapore
What’s New
The Singapore Urban Redevelopment Authority (“URA”) has launched an exhibition titled “Space For Our Dreams” for the Long-Term Plan Review (“LTPR”). This latest LTPR represents the URA’s latest review of Singapore’s long-term plans to safeguard land for a quality living environment and to meet the changing uses and demands. At the public exhibition for the Long-Term Plan Review (LTPR) titled “Space For Our Dreams”, Mr Desmond Lee, Minister for National Development and Minister-in-charge of Social Services Integration spoke about Singapore’s future urban environment targets seven pillars, i.e., Live, Work, Play, Move, Cherish, Steward and Sustain. Some of salient highlights and possible beneficiaries of the LTPR are:
- Rejuvenation of the Central Business District (“CBD”) and a polycentric strategy to bring jobs closer to homes.
In its pursuit towards the seven pillars, coupled with increasing trend of working anywhere and everywhere, which was made possible during the COVID-19 pandemic, Singapore is committed towards providing more jobs closer to homes and sustaining Singapore’s competitiveness as an attractive destination for business and leisure globally.
Introducing an integrated industrial development with “vertical zoning” – Kolam Ayer and Yishun industrial estates named as potential areas. The rejuvenation of the city centre is underway with incentive schemes to convert older commercial buildings into integrated developments. Outside the city centre, the development of polycentres at key business districts is on the cards, with the Jurong Lake District, Changi region and Northern Gateway as key future nodes.
In addition, URA is exploring a “vertical zoning” concept in the industrial estates and introducing Business-White Zones to incorporate non-industrial uses within the space. Based on our understanding from the description, this could be seen as an integrated industrial development with clean industrial activities on the lower floors, co-working spaces on the mid-floors and residential at the upper floors. URA has identified potential areas such as Kolam Ayer and Yishun industrial estates.