Complete Property Market Updates of Singapore

June 11, 2008

Unveiling of URA Master Plan

Filed under: General,Regulators — Propertymarketupdates @ 3:54 am

WHAT IT IS

THE Urban Redevelopment Authority (URA) will unveil the Draft Master Plan 2008 on Friday.

The new Master Plan is expected to make changes in land use, increase plot ratios as well as lay the groundwork for a much larger population of 6.5 million, which could be reached in as short a span of time as 20 years.

The country’s planners are drawing up future development plans for housing, recreation, land transport and the economy’s needs based on this new projection. The previous target was 5.5 million.

WHY IT MATTERS

The Draft Master Plan 2008 is the most important statutory plan used to determine land use and shape Singapore’s physical development in the next 10 to 15 years.

This year’s Master Plan is expected to focus on growth areas, rather than widespread upgrade in densities. Key sectors which are likely to benefit include hotels, aerospace, health care and transport.

Source : Straits Times – 19 May 2008

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