Building and Construction Authority (BCA) and Urban Redevelopment Authority (URA), in a joint release issued on 24 November, had revealed that the Built Environment Transformation Gross Floor Area Incentive
Scheme applies to development proposals from 24 November 2021 to 23 November 2026 with coverage ranging from residential, commercial, industrial, institution and mixed-use developments with the private sites having a Gross Floor Area equal or greater than 5,000 sq m.
The scheme is also applicable to Government Land Sales site which has been launched until the second quarter of 2022 and as such all the applicants will enjoy up to 2% bonus of additional Gross Floor Area.
After Q2 2022, the minimum requirements for Gross Land Sales sites will be increased having taken into considerations of productivity, digitalisation and sustainability.
Any proposal that has obtained planning permission but have not started infrastructure works may also be eligible for the scheme subjected to authority approval.
Successful applicants needed to make any amendment or fresh submission to URA for planning permission which have to include the additional bonus Gross Floor Area in the development proposal.
Does such additional Gross Floor Area bonus apply to new condo such as the upcoming The Arden and Sceneca Residence?
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe
