reporter2
22-10-21, 17:39
Golden Mile Complex gazetted with "refined" incentives from URA
Oct 22, 2021
https://i.imgur.com/MHfg9Gz.jpg
THE Urban Redevelopment Authority (URA) has "refined" the incentives that come alongside the conservation of Golden Mile Complex.
With Golden Mile Complex now gazetted as a conserved building, it will be the first modern, large-scale strata-title development conserved in Singapore.
This was announced by Minister for National Development Desmond Lee on Facebook on Friday (Oct 22).
Last year, URA had proposed to conserve the building, accompanied by a "significant" incentive package to make development options for the site more attractive to potential buyers.
"Over the past year, URA has refined the incentives, taking in the owners' feedback," said Lee in video remarks.
He said the development potential of the site is increased with conservation.
The developer will be able to build a new tower block about 30-stories high, beside the main building. The site boundary may also be extended to include part of the adjacent state land, for more design flexibility.
A tax incentive will also be provided, which will lower development costs. This tax will be fully waived for the conserved floor area, and partly waived on the new floor area. There are other incentives on the table, he added, without going into details.
"The incentive package is unique to Golden Mile Complex, as its conservation is the first of its kind, another pioneering endeavour. We hope that developers will consider the potential of the site, alongside our vision to rejuvenate a national icon," Lee said.
Oct 22, 2021
https://i.imgur.com/MHfg9Gz.jpg
THE Urban Redevelopment Authority (URA) has "refined" the incentives that come alongside the conservation of Golden Mile Complex.
With Golden Mile Complex now gazetted as a conserved building, it will be the first modern, large-scale strata-title development conserved in Singapore.
This was announced by Minister for National Development Desmond Lee on Facebook on Friday (Oct 22).
Last year, URA had proposed to conserve the building, accompanied by a "significant" incentive package to make development options for the site more attractive to potential buyers.
"Over the past year, URA has refined the incentives, taking in the owners' feedback," said Lee in video remarks.
He said the development potential of the site is increased with conservation.
The developer will be able to build a new tower block about 30-stories high, beside the main building. The site boundary may also be extended to include part of the adjacent state land, for more design flexibility.
A tax incentive will also be provided, which will lower development costs. This tax will be fully waived for the conserved floor area, and partly waived on the new floor area. There are other incentives on the table, he added, without going into details.
"The incentive package is unique to Golden Mile Complex, as its conservation is the first of its kind, another pioneering endeavour. We hope that developers will consider the potential of the site, alongside our vision to rejuvenate a national icon," Lee said.