The Ministry of National Development Singapore made an exciting announcement on encouraging redevelopment at Central Business District (CBD) when the Draft Master Plan 2019. The underlining scheme has more people to work, live and play in the core city.
Gross plot ratio (GPR) will be increased at existing properties at Tanjong Pagar, Cecil Street and Anson Road for conversion to a hotel and residential use.
Property experts projected:
- Some companies to move out of CBD
- Rents of Grade A offices will increase
- More homes, over 20,000 units, are planned for Downtown, Marina South and Rochor.
Midtown Bay, with 219 residential units was one of the results of this plan.
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