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URA rejects proposed redevelopment of International Plaza under CBD Incentive Scheme
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Market observers say the URA's decision could have implications for potentially the largest collective sale deal here to date.
ST PHOTO: JASON QUAH
SINGAPORE - International Plaza's proposal for a 62-storey mixed-use project, including a 368-room hotel, in Tanjong Pagar has hit a roadblock after the authorities rejected an outline application for its proposed redevelopment under the Central Business District (CBD) Incentive Scheme.
This came after the Urban Redevelopment Authority (URA) found that the 50-storey property "currently has a good mix of uses, ranging from residences to retail, food and beverage and personal services, in addition to offices".
