New rule allowing better use of excess carpark space

In line with a drive to make Singapore car-lite, building owners can now apply to permanently convert excess carpark space - any above the required level - to commercial or other uses in the central area, reported The Straits Times. 

The area includes Orchard, Bugis, City Hall, Chinatown, Raffles Place, Tanjong Pagar and Marina Bay. Details were sent out in a circular to real estate professionals on April 15^th, the date from which it took effect. No official figures indicate how many buildings could benefit but experts said these may include Wilkie Edge, Peace Centre, Capital Square and Anson House. 

The rule change comes after Transport Minister Khaw Boon Wan said recently there could be less space for parking as policies are adjusted to be in line with other global cities. The Land Transport Authority (LTA) said with better public transport capacity and coverage, commuters are better connected between home and work and there is less need to rely on private transport to get into the city. It cited the Downtown Line Stage 2 completed last December, Stage 3 to be ready next year, and Thomson-East Coast Line from 2019.

LTA and the Urban Redevelopment Authority (URA) will look into expanding this rule change to cover other areas, it added. Commercial, mixed-use and hotel developments are eligible but any conversion still needs approval from URA and relevant agencies.