The latest round of proposals for creative land use by the Economic Strategies Committee (ESC) sub-group may mean some impactful changes for certain sectors of the real estate industry.

Some of these proposed changes include offering a wider variety of lease tenures, more flexibility in industrial land use and the tracking of land productivity. All in the name of maximising the use and value of Singapore land, these changes are meant to providing more choice and flexibility to the property market.

“In addition to robust planning, we should also focus on making our land use system more nimble and remove barriers that may impede the flow of land resources from less to more land-efficient economic activities,” stated the sub-group in its report.

One main area of change is in the range of lease tenures. By offering a wider range of lease tenures, it will allow Singapore to meet different needs, particularly for industrial and commercial uses.

The sub-group also recommended more flexibility in terms of zoning and land use for industrial zones. This was due to requests by companies to the authorities to allow other activities on industrial land.