Experts believe that suggestions such as selling bigger sites with attractive option schemes will provide developers the flexibility to explore new development concepts that are hard to realise in the city centre.
The Urban Redevelopment Authority (URA) has invited property developers, businesses and investors to share ideas for the development of Jurong Lake District.
Once completed, the district is expected to provide more than 100,000 new jobs as well as 20,000 new homes.
Among the ideas suggested include selling bigger sites with attractive option schemes, reported The Business Times (BT) citing URA’s Group Director for Physical Planning Yvonne Lim.
This will provide developers the flexibility to explore new development concepts that are hard to realise in the city centre.
The industry stakeholders also recommended holding signature events and creating landmark attractions and developments.
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They also proposed activating the “public realm through placemaking and provide exciting food and beverage (F&B), retail and lifestyle options that are different from those downtown”, said Lim at a recently held seminar organised by the Building and Construction Authority and the Real Estate Developers’ Association of Singapore.
Placemaking involves proactively managing public spaces to promote stronger relationships within the community. It also requires local communities and business owners to work together to promote and activate their precincts, according to the URA’s website.
Separately, Lim revealed that URA supports possible future shifts within the real estate sector.
In fact, it has been engaging industry stakeholders to understand the changing demands and business models, said BT.
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F&B operators, for instance, are increasingly interested in cloud kitchens, while more “dark stores” emerge in the grocery scene.
Dark stores refer to fulfilment or distribution centres catering exclusively to online shopping.
Lim said URA is studying policies while coming up with strategies to improve liveability of the built environment as well as facilitate new business models.
She added that pilots have been developed to repurpose spaces to support last-mile business-to-consumer (B2C) deliveries.
Possible pilots include designating collection points in collaboration with mall owners and food delivery platforms and using car parks as designated spaces for logistics firms to store parcels for walkers.
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