SINGAPORE – Foreigners are required to obtain government approval to buy land currently zoned as “commercial and residential” as of Thursday.

This follows changes to the Residential Property Act (RPA) to “safeguard residential land for Singaporeans”, the Ministry of Law (MinLaw) and Singapore Land Authority (SLA) announced on Wednesday night.

Developments on land zoned for “commercial and residential” use will now be deemed residential property and regulated as such under the RPA, as the “commercial and residential” zone is being removed from the list of land-use zones that have been designated as non-residential property.

“Commercial and residential” properties may include shopping centres, hotels as well as office and residential properties. Some examples are Robertson Walk and UE Square.

Foreign persons – individuals and entities – who are existing owners of land zoned or property permitted for such use need not seek approval if they intend to retain the property as is, but must seek approval if they wish to retain and redevelop the property.

Exemptions from seeking approval can be made if the foreign persons intending to buy or acquire interest were granted the option to purchase (OTP) by sellers before July 20; the OTP is exercised on or before Aug 9; and the OTP has not been varied on or after July 20.

This change is among updates being made to the Schedule of Non-Residential Properties under the RPA as part of regular reviews.

Seven uses – Business 1, Business 2, Business 1 – White, Business 2 – White, Commercial/Institution, Reserve Site and Special Use – are also being added to the list as residential uses are typically not allowed on such land-use zones. THE BUSINESS TIMES