On August 5, during an interview with the media, National Development Minister Chee Hong Tat revealed several upcoming changes. While there has been much attention on housing policies such as the Voluntary Early Redevelopment Scheme (VERS) as a possible replacement for the Selective En bloc Redevelopment Scheme (SERS), and potential adjustments to eligibility criteria and income ceilings for Build-to-Order (BTO) flats, there is also significant news for businesses.
Table of contents
- Streamlining change-of-use process for commercial spaces
- Formalising the Business Improvement District (BID) programme
- Reducing red tape and offering ongoing business support
- Tying in with the Draft Master Plan 2025
Streamlining change-of-use process for commercial spaces
Right now, if you are running a business in a JTC business park or a community centre managed by the People’s Association, you must apply for permission from the Urban Redevelopment Authority (URA) before changing the use of your space. This application process takes about two weeks and costs S$500.
Similarly, if you are planning to set up a land-based solar farm, URA approval is needed, and the application fee is significantly higher at S$3,500.
However, this is about to change. The commercial space change-of-use process will be streamlined, removing the need for URA’s permission for these types of changes. Instead, you will only need to get consent from the relevant landowner and meet all requirements set by the relevant authority.
This move is part of a broader effort toward streamlining business approvals in Singapore, making it easier for you to adapt your business operations without unnecessary delays or costs.
Formalising the Business Improvement District (BID) programme
The Business Improvement District (BID) initiative is also getting a major boost. Since 2017, the URA has piloted the BID programme in several areas, including the Singapore River, Marina Bay, Raffles Place, and Tanjong Pagar. The aim has always been to give stakeholders like you more say in making your precincts more attractive and lively.
Under this scheme, the government provides seed funding of up to S$500,000 per year, matching membership fees collected from stakeholders on a dollar-for-dollar basis. This funding supports place management initiatives in Singapore, such as targeted marketing, hospitality services, and events to draw more visitors.
Given the positive response so far, the plan is to formalise the BID programme through new legislation. The government also intends to expand it to more precincts across the country, working closely with businesses to create vibrant spaces and even support Singapore nightlife revitalisation.
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Reducing red tape and offering ongoing business support
Minister Chee made it clear that reviewing rules and processes is an ongoing effort. The goal is to work hand in hand with the industry to find more ways to ease rules for businesses in Singapore.
By identifying areas where regulations can be simplified, and by reducing both processing times and costs, the government hopes to make it easier for you to focus on growing your business rather than dealing with administrative hurdles.
Tying in with the Draft Master Plan 2025
These business-friendly changes connect closely with earlier announcements made in June under the Draft Master Plan 2025 industrial land review. The government is looking to update industrial land use zone guidelines to keep up with evolving business needs.
One key shift will be moving away from mono-use zones toward mixed-use industrial zones in Singapore. This will give developers greater flexibility in how they use land and improve the country’s overall economic competitiveness.
In addition, more business-white sites in Jurong, Tuas, and Woodlands will be introduced, particularly around key transport nodes. These locations could open up more opportunities for you, especially if you are considering expanding into areas with strong connectivity and growth potential.
Wrapping up
With these upcoming changes, you can expect a more supportive business environment that encourages innovation, reduces unnecessary processes, and creates vibrant spaces for work and leisure. Whether you are planning to adapt your commercial space, participate in the BID programme, or explore new mixed-use opportunities, the coming years could bring a more streamlined and flexible landscape for your business.
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