Written answer by Ministry of National Development on the effectiveness of the Central Business District Incentive and Strategic Development Incentive schemes

Sep 10, 2024

Question No: 6094

Question by:  Mr Chua Kheng Wee Louis

To ask 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.

Answer:

The Urban Redevelopment Authority (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 the CBDI - 13 applications have been given in-principle approval, of which 3 are under development. URA has received 9 outline applications under the SDI - 7 applications have been given in-principle approval, of which 2 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.