To that end, the Government will give developers a higher gross plot ratio – the permissible development intensity of a land parcel – to encourage them to convert ageing offices into hotels and homes.
“We want to introduce a broader mix of uses so that the CBD is not only a place to work, but also a vibrant place to live and play,” he said.
The scheme, which will kick in when the Master Plan is gazetted later this year, will apply to the Anson Road, Cecil Street, Shenton Way, Robinson Road and Tanjong Pagar areas.
They will get a plot ratio increase of between 25 to 30 per cent, depending on where they are located and their land use, which could range from a hotel to a condominium with some shops on the ground floor.
Some 2,000 private homes are being planned for Marina South, with others to come up in the Downtown and Rochor areas.
– 27 March 2019