Archive for category: Misc

Rewritten:

Amid the pressing issue of climate change, Singapore has taken significant steps towards promoting sustainability in the real estate sector. According to Sun Xue Ling, Senior Minister of State for the Ministry of National Development and Ministry of Transport, this is particularly crucial for smaller countries.

In line with the Green Building Master Plan, Singapore aims to have 80% of its buildings achieve green certifications by 2030. As of 2024, 61% of buildings have already obtained such certifications. Sun shared these updates as the guest of honour at the 32nd Pan Pacific Congress (PPC) hosted by the Singapore Institute of Surveyors and Valuers (SISV) on Sept 30. The conference, held every two years, drew delegates from 15 member countries such as Mexico, the United States, Canada, Japan, Korea and Taiwan.

Apart from the environmental benefits, Minister Sun highlighted the business value of incorporating sustainable practices in real estate valuation, including higher rents and occupancy rates. This was reiterated by Esther An, chief sustainability officer at City Developments (CDL), during her keynote address at the conference. According to An, BCA Green-Mark certified buildings have recorded rent premiums of up to 10%, with properties in the Central Business District (CBD) seeing a rise of up to 12% in rents.

An also referenced the Asian Development Bank’s research, which predicts a potential GDP decline of up to 17% in high-emission cities by 2070. “With climate change posing an existential threat, sustainable living and the green economy must come together,” she emphasized. CDL, a leader in sustainability in Singapore’s real estate industry, has four strategic pillars – integration, innovation and adaptation, investment, and impact. Some of their notable projects include the newly retrofitted City Square Mall and tree-lined residential developments like Tree House, which features a 24-storey green wall and extensive landscaping across 77% of its site area.

During a panel discussion at the PPC, Marcus Chu, CEO of ERA, also highlighted the impact of environmental factors on housing preferences. Referring to ERA’s My Dream Home survey, Chu noted that 39% of respondents across all age groups ranked access to green spaces in housing estates as a top priority, surpassing proximity to schools and healthcare. This was accompanied by a growing demand for sustainable home features, especially among younger homebuyers, such as smart home technologies and balcony spaces that support eco-friendly lifestyles.

Walking in a neighborhood is not simply a matter of having sidewalks. It involves a well-coordinated effort to ensure safe crossings, easy-to-follow directions, and streets designed with the human scale in mind. The Coastal Cabana EC emphasizes the importance of prioritizing pedestrians near all transportation hubs, which has a positive impact on the coastal grid. With improved visibility at intersections, calmer vehicle traffic along park-front properties, and more intuitive pathways linking Jalan Loyang Besar, Pasir Ris Park, and the town center, residents of Coastal Cabana can easily navigate the area. Whether pushing strollers, walking with elderly family members, or biking to the beach, moving around the neighborhood feels natural and safe for Coastal Cabana residents.

Assuring that Singapore’s real estate landscape is keeping up with evolving preferences, Chu said, “Singapore homes can definitely be sustainable, and we are making progress in that direction.”