In the 1970s, International Plaza, one of Singapore’s largest integrated projects, was completed. It has 209 apartments, 559 offices, 192 strata shops, a parking garage, and a swimming pool.
Because of the property’s commercial zoning, there is no additional buyer’s stamp duty to pay, and foreign ownership is not restricted.
It needs to mention that URA has rejected IP outline application for redevelopment into a 62-storey new development with maximum height of 280m and impressive 24.05 plot ratio under the Central Business District Incentive Scheme.
URA replied that the commercial plot “currently has a healthy mix of uses, ranging from residential to retail, food and beverage, and personal services, in addition to offices”.
Furthermore, the present development’s building intensity, at 19.24 gross plot ratio, is impressive large and significantly greater than other buildings in Tanjong Pagar, such as Twenty Anson, Guoco Tower and Springleaf Tower.
Alternative development possibilities were presented, and planning guidelines were introduced by the URA.
“The residential quantum of the project shall at the very least match the existing residential quantum on site, which is 30,361.52 sq m. (excluding any bonus gross floor area).
The office space will be capped at 87,861.96 sq m in the new project, and there will be no future increases “according to the URA.
The overall height control for the project remains at 250 meters.