Property Development

URA offers sweeteners to Orchard OG, Midpoint and Faber House to spur Orchard makeover

The Urban Redevelopment Authority (URA) is offering the owners of Midpoint Orchard, Orchard OG and Faber House sweeteners to spur them to redevelop as part of Singapore’s plan to rejuvenate its most famous shopping belt. Observers said that this could be a way to negotiate the tricky situation surrounding Midpoint Orchard – a strata-titled building which, The Straits Times understands, has about 60...

Muted updates to DC rates amid challenging macro scene

Against the backdrop of a challenging macroeconomic environment, the government has announced muted adjustments in development charges (DC). The Ministry of National Development on Friday evening announced that it is raising DC rates for commercial use by 1.7 per cent on average for the period Sept 1, 2019 to Feb 29, 2020. The increase is only a shade of the 9.8 per cent hike for the last revision that...

Development charge rates raised 1.7% on average for commercial use, trimmed 0.3% for non-landed residential use

The government has raised development charge (DC) rates for commercial use by 1.7 per cent on average for the period Sept 1, 2019 to Feb 29, 2020. This is a slower rate of increase than the 9.8 per cent hike for the last revision that took effect March 1 this year. DC rates for non-landed residential use have been trimmed by 0.3 per cent on average. This follows the 5.5 per cent cut in...

URA revises guidelines to reduce number of shoebox units, stem shrinking of private homes

In a bid to reduce the strain new developments pose on local infrastructure, the authorities have moved to ensure that there will be fewer shoebox units offered in new private non-landed residential buildings outside the Central area. The Urban Redevelopment Authority (URA) revised guidelines for such properties on Wednesday (Oct 17), making several changes that it said also aim to moderate the...

Development charge rates raised by an average of 9.8% for non-landed residential land use

Development charge (DC) rates for redeveloping land have gone up for commercial and industrial sites, as well as plots slated for non-landed private homes, and hotels and hospitals. Land zoned for non-landed residential use had rates raised by 9.8 per cent on average, the Ministry of National Development (MND) said on Friday - its fifth straight increase, although down sharply from the 22.8 per cent...

DC rates rise to play catch-up with land prices

AMID strong developer appetite for condo development sites which has buoyed land prices, the government has upped the average DC (development charge) rate for non-landed residential use by 4 per cent for the March 1-Aug 31, 2017 period. This is the second consecutive hike in the average DC rate for such use, following the 2.7 per cent rise during the previous revision six months earlier. DC is...

New guidelines issued to developers for public spaces on private property

Public spaces on private property will soon have to meet new design guidelines such as providing ample shade and public seating, according to a circular to building owners and developers by the Urban Redevelopment Authority (URA) on Tuesday (Jan 24). These spaces include covered public spaces such as the area outside Asia Square, outdoor public spaces such as the atrium outside Ion Orchard, and urban...

DC rates raised for non-landed residential, commercial and hotel/hospital uses

THE government is increasing development charge (DC) rates, payable for enhancing the use of some sites or to build bigger projects on them, for commercial, non-landed residential and hotel/hospital uses. However, DC rates remain unchanged for landed residential, industrial, place of worship/civic and community institution, and other use groups. The latest DC rates are for the period of Sept 1, 2016,...

Development charge rates dip across all sectors

Development charge rates have been revised downwards following the regular half-yearly review by the Ministry of National Development. A development charge is levied on projects that increase the value of the land they sit on. This could involve rezoning of a site to allow higher value use, or when the plot ratio is increased to allow the building of a larger project. The industrial segment saw the...

Development charge rates lowered for industrial properties

Development charge (DC) rates for industrial properties will be reduced in most areas while rates for office, retail and residential will remain unchanged in the next six months. The Ministry of National Development said in a statement on Monday (Aug 31) that DC rates for industrial properties will be lowered by between 3 per cent and 4 per cent for 87 out of 118 sectors. This will be for the six months...

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