Some property developers have been rewarded for their initiative to go green, receiving additional floor space for their projects.
According to the Building and Construction Authority (BCA), it has received 37 applications for the Green Mark GFA Incentive Scheme, which grants additional gross floor area (GFA) to eco-friendly buildings.
BCA has approved some of these applications, such as those from City Developments (CDL), Ascendas, Parkway Holdings and Soilbuild Group.
The scheme was launched by the URA and BCA in April 2009 to urge private developers to go green and build eco-friendly projects.
Owners of buildings that conform to certain Green Mark standards can apply for more GFA beyond the master plan gross plot ratio control. Projects with the Gold Plus rating can receive up to one percent additional GFA, while those with the Platinum rating are qualified for up to two percent more GFA.
However, the additional GFA is not completely free. Property developers have to pay a differential premium or development charge for the space.
Some developers have found it worthy to sign up for the scheme. The agency said that out of the 37 applications, six were for commercial developments, ten for residential projects and 21 for mixed-use and other types of buildings.
One of the projects that had received an additional GFA is Changi City, developed jointly by Frasers Centrepoint and Ascendas. The developers decided to seek a Green Mark Gold Plus rating because of the incentive scheme, said Tan Yew Chin, CEO of Ascendas Land for Singapore.
CDL also gives high importance to environmental sustainability on its agenda. Cube 8, a residential project at Thomson Road, which received the Mark Platinum award, qualified for 377 sq m of bonus GFA. The developer was able to construct three more apartments, which brings the total number of units to 177.
Parkway Holdings also received 1,447 sq m of bonus GFA at Parkway Novena Hospital, which is expected to receive the Platinum rating. The additional space will go towards “better diagnostic and treatment facilities,” said a Parkway spokesperson.