Housing developers undertaking large-scale complex projects, including larger collective sale redevelopments, will now have more time to build and sell off all the units in the development.«We want to incentivise private developers to intensify their use by rejuvenating ageing residential sites, including larger sites where redevelopment will require a longer duration,» said Minister for National Development Chee Hong Tat at the Singapore Economic Review Conference held at Orchard Hotel Singapore on Tuesday (July 28).Under new rules that take effect on Wednesday (July 29), developers of projects yielding between 700 and 1,399 residential units will have their completion and sale timelines extended to six years, from 5.5 years currently. Projects yielding at least 1,400 residential units will have their completion and sale timelines extended to seven years.«These changes are intended to set the right incentives for developers to rejuvenate larger estates, so that we can encourage more than rejuvenation, and achieve an outcome which is good for society as a whole,» Chee explained. Read more