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URA Draft Master Plan 2019: Higher plot ratios in CBD for converting offices to hotels, residences

URA Draft Master Plan 2019: Higher plot ratios in CBD for converting offices to hotels, residences.

THE Urban Redevelopment Authority (URA) will offer an increase in gross plot ratio for areas within Singapore's central business district (CBD) to encourage the conversion of existing office developments to hotel and residential uses, Minister for National Development Lawrence Wong said on Wednesday.

That change will fall under a new CBD Incentive Scheme that is part of a broader plan to boost the live-in population within the city's central area with a variety of homes and amenities in places such as downtown, Marina South and Rochor to enable more people to live near workplaces and amenities.

The CBD Incentive Scheme will apply to the Anson Road, Cecil Street, Shenton Way, Robinson Road and Tanjong Pagar areas.

As part of its Draft Master Plan 2019, URA also envisages opportunities to inject unique, short-term uses for vacant state properties and land to bring about greater vibrancy and create public spaces for more to enjoy.

Source : https://www.businesstimes.com.sg/real-estate/ura-draft-master-plan-2019-higher-plot-ratios-in-cbd-for-converting-offices-to-hotels

Adapted from The Business Times 27 March 2019