{"id":110487,"date":"2019-09-04T11:35:43","date_gmt":"2019-09-04T04:35:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-reclamation-projects-to-be-funded-by-past-reserves\/"},"modified":"2019-09-04T12:02:50","modified_gmt":"2019-09-04T05:02:50","slug":"land-reclamation-projects-to-be-funded-by-past-reserves","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-reclamation-projects-to-be-funded-by-past-reserves\/","title":{"rendered":"Land reclamation projects to be funded by past reserves"},"content":{"rendered":"


\nThe arrangement is part of the Reserves Protection Framework agreed upon by the government and the President, whose constitutional duty is to protect the national reserves.
\nIn fighting climate change, Second Finance Minister Lawrence Wong said smaller-scale infrastructure projects such as flood barriers can be financed by the government\u2019s yearly budget, while \u201clong-lived major\u201d infrastructure, like sea walls, could be funded through borrowing.
\nWong, who also serves as National Development Minister, revealed that once land reclamation is involved, the costs is covered by Singapore\u2019s past reserves and the reclaimed land\u2019s value after its sale will be fully returned to the reserves, reported Today Online.
\n\u201cThe reclamation of land is in essence a conversion of past reserves \u2014 from financial assets to state land. This use is not a draw on past reserves,\u201d he said.
\nWong further clarified that the arrangement is part of the Reserves Protection Framework agreed upon by the government and the President, whose constitutional duty is to protect the national reserves.
\nHe was responding to a parliament question by Associate Professor Walter Theseira, who asked about the extent to which the policy of funding land reclamation will be applied to the $100 billion climate change costs announced by Prime Minister Lee Hsien Loong in this year\u2019s National Day Rally.
\nIn a supplementary question, the MP asked if \u201cthe commitment then\u2026 that the cost of land reclamation will be coming from past reserves, without drawing down or (having) requirement on raising taxes, or is it going to be flexible based on the Finance Minister at the time?\u201d
\nTo this, Wong explained that the framework already allows the government to utilise past reserves for land reclamation projects.
\n\u201cThat is already the case today and that is the way in which we operate currently,\u201d he said.
\nA recent Mediacorp poll showed that young people were divided in their views on whether climate change mitigation measures should be funded by current taxes (41 percent) or by national reserves (42 percent). Meanwhile, a minority (18 percent) wants such measures to be funded by taxes paid by future generations.
\n\u201cMOF will continue to study equitable and sustainable ways to finance the full suite of climate adaptation measures we need to protect our island,\u201d said Wong.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Land reclamation projects to be funded by past reserves<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The arrangement is part of the Reserves Protection Framework agreed upon by the government and...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-110487","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sK3","jetpack-related-posts":[{"id":34692,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-reclamation-method-to-reduce-reliance-on-sand\/","url_meta":{"origin":110487,"position":0},"title":"New reclamation method to reduce reliance on sand","date":"November 17, 2016","format":false,"excerpt":"\r A land reclamation method historically used by the Dutch is to reduce Singapore\u2019s reliance on sand, and will be first implemented at Pulau Tekong. (Photo: Tunafish1990, Wikimedia Commons) A new land reclamation method aimed at helping Singapore reduce its reliance on sand will be used on the northwestern tip\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60642,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-reclamation-resolve-hong-kongs-housing-problem\/","url_meta":{"origin":110487,"position":1},"title":"Can reclamation resolve Hong Kong\u2019s housing problem?","date":"July 13, 2017","format":false,"excerpt":"\r The new leadership of the Hong Kong government should consider restarting land reclamation to increase land supply to build new homes as a means to resolve the city\u2019s housing problem in the long run, according to a government think tank and a property agent. Stephen Wong, deputy executive director\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34826,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-sector-to-be-more-involved-in-govt-development-plans\/","url_meta":{"origin":110487,"position":2},"title":"Private sector to be more involved in govt development plans","date":"November 18, 2016","format":false,"excerpt":"\r Selling larger land parcels, such as the government did at Marina Bay, will be one of the methods used in future development plans. The government aims to increase the involvement of the private sector in its development plans, as part of its strategies to boost the economy, reported Today.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":162718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-expands-nature-reserves-to-20-of-total-land-under-sheikh-mohamed-directive\/","url_meta":{"origin":110487,"position":3},"title":"Abu Dhabi expands nature reserves to 20% of total land under Sheikh Mohamed directive","date":"October 16, 2025","format":false,"excerpt":"\r UAE President directs Abu Dhabi to expand protected areas to 20% of its land, adding new reserves to boost biodiversity and sustainability The post Abu Dhabi expands nature reserves to 20% of total land under Sheikh Mohamed directive appeared first on Arabian Business: Latest News on the Middle East,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/10\/Abu-Dhabi-nature-1000x658-1.jpg?fit=1000%2C658&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122110,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wheelock-says-its-proposal-to-build-homes-under-the-land-sharing-scheme-is-a-win-win-solution-for-all\/","url_meta":{"origin":110487,"position":4},"title":"Wheelock says its proposal to build homes under the land sharing scheme is a \u2018win-win\u2019 solution for all","date":"September 21, 2021","format":false,"excerpt":"\r Private flats to be built under a plan to tap Hong Kong developers\u2019 land reserves will not necessarily cost more and is a \u201cwin-win\u201d solution for all stakeholders, even though most of the land is earmarked for public housing under the proposal, according to Ricky Wong Kwong-yiu, managing director\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111213,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-hong-kong-break-the-stranglehold-of-the-citys-biggest-developers-on-land-reserves\/","url_meta":{"origin":110487,"position":5},"title":"Can Hong Kong break the stranglehold of the city\u2019s biggest developers on land reserves?","date":"September 30, 2019","format":false,"excerpt":"\r When Adrian Cheng Chi-kong, the third-generation scion of one of Hong Kong\u2019s biggest landowners, met Ricky Yu in 2016, the seed of an unorthodox idea was planted.Yu, founder of the non-profit builder Light Be, was looking for land to build what his six-year-old group calls social housing, including co-tenancy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110487"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=110487"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110487\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}