Industry watchers hope new Master Plan will include higher plot ratios

Higher plot ratios and integrated developments with greenery and other features are among the wish lists of industry players, who are anticipating significant changes to the government’s new Draft Master Plan.

The master plan, expected to be released soon by the Urban Redevelopment Authority, will guide Singapore’s land use over the next 10 to 15 years.

Buildings in Singapore may get even taller, if property players have their wish.

Topping the industry’s wish list is higher plot ratios from the upcoming Draft Master Plan.

A higher plot ratio means a more intensive use of land, which analysts say will go some way to supporting a larger population base and encourage existing building owners to redevelop their property.

Chua Chor Hoon, Senior Director of Research at DTZ Debenham Tie Leung, said: “Many people would hope for the master plan plot ratio to be increased but I don’t think that would be the case. I think there isn’t really a need for the increase in plot ratio, unless there is some pressure for more space. If we intensify everything now, it will be very difficult to grow further in the future.”

For now, industry watchers expect the Draft Master Plan 2008 to provide more details about growth areas that have been identified by the URA previously.

They are areas in Jurong, Paya Lebar, Kallang, Punggol and the Southern Ridges, which could support a range of residential, commercial and recreational activities.

Market players also hope to see more interesting urban form where the features, like greenery and canals, are incorporated into the development plan.

Analysts expect the government to continue to grow the Marina Bay area.

They say effects will also be made to enhance the Central Business District.

However, they are concerned that the parking problems in the CBD may be aggravated as old buildings make way for newer ones, which have fewer parking lots.

Other possible key areas include more spaces for tourism and recreation.

Industry players say sustainable economic development and the conservation of old buildings might also be on URA’s cards. – CNA/de

Source : Channel NewsAsia – 4 Apr 2008

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