{"id":44792,"date":"2017-02-20T11:18:53","date_gmt":"2017-02-20T04:18:53","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-firms-eager-to-become-master-developers\/"},"modified":"2017-02-20T11:20:31","modified_gmt":"2017-02-20T04:20:31","slug":"property-firms-eager-to-become-master-developers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-firms-eager-to-become-master-developers\/","title":{"rendered":"Property firms eager to become master developers"},"content":{"rendered":"


\nThere may be opportunities for property developers to develop entire precincts in the future.
\nMany developers in Singapore have expressed their eagerness to participate in a private-public partnership model that will see them master planning new districts, reported the Straits Times.
\nIn recommending the \u201cmaster developer\u201d model, the Committee on the Future Economy said the government should provide more flexibility in land use to enable developers to take a more integrated approach in developing districts.
\nCurrently, the government conducts the master planning of precincts, before offering the land to property developers on a plot-by-plot basis.
\n\u201cThe opportunity for private developers to participate in master planning raises exciting possibilities for the real estate landscape,\u201d said Christopher Tang, CEO of Frasers Centrepoint Singapore.
\nHowever, the tender award for such a model should not be based solely on the highest bid, but also on the developer\u2019s master plan proposal, track record and financial commitment, noted Wen Khai Meng, CEO of CapitaLand Singapore.
\nIn addition, given the longer development horizon and fluid nature of large precinct developments, option pricing may also be considered by the government to ensure business viability, he added.
\nIncentives such as lower development charge rates and additional gross floor area may also encourage the development of underground space, said industry players.
\nChristine Li, Research Director at Cushman & Wakefield, noted that while a significant portion of the master developer\u2019s resources, including human capital and financial capital, is tied up to the project during its duration, the project\u2019s success would \u201cboost the master developer\u2019s reputation and enable it to reap substantial profits\u201d.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Property firms eager to become master developers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There may be opportunities for property developers to develop entire precincts in the future. Many...<\/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-44792","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-bEs","jetpack-related-posts":[{"id":45318,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-february-2017\/","url_meta":{"origin":44792,"position":0},"title":"News Roundup (February 2017)","date":"February 24, 2017","format":false,"excerpt":"\r \u00a0 Our top Singapore property stories. Higher demand expected for HDB resale flats: experts HDB resale flats have become more appealing for first-time buyers in light of the higher CPF housing grants announced as part of Budget 2017, said Eugene Lim, Key Executive Officer at ERA Realty Network. \u201cBuyers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/02\/Luxury-apartments-in-Singapore-1024x680.jpg?fit=1024%2C680&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":105505,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/draft-master-plan-2019-cbd-to-see-more-homes\/","url_meta":{"origin":44792,"position":1},"title":"Draft Master Plan 2019: CBD to see more homes","date":"March 28, 2019","format":false,"excerpt":"\r A variety of new homes and amenities will be built in areas like Downtown, Marina South and Rochor to inject more life after work hours. The government is looking to build more homes in the Central Business District so that more people can live closer to workplaces and amenities.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123487,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/authorities-unveil-new-bonus-gfa-incentive-scheme\/","url_meta":{"origin":44792,"position":2},"title":"Authorities unveil new bonus GFA incentive scheme","date":"November 29, 2021","format":false,"excerpt":"\r Authorities unveil new bonus GFA incentive schemeDevelopers can get up to 3% bonus GFA beyond the existing Master Plan Gross Plot Ratio by fulfilling certain productivity, digitalisation and sustainability standards. 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