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Business Times: Going green pays off for developers

A recent article in the Business Times (reproduced here) reported that :

“If buildings meet certain Green Mark standards, owners can apply for additional Gross Floor Area (GFA) beyond the master plan gross plot ratio control.

Developments with the Platinum rating can receive up to 2 per cent more GFA (capped at 5,000 sq m), while those with the Gold Plus rating are eligible for up to one per cent more (capped at 2,500 sq m).”

In land-scarce Singapore, this is a powerful incentive. At current record land prices,  an extra 5,000 sqm is easily worth millions of dollars to the developer, even though a development charge has to be paid to the government.

There are currently 4 levels of Green Mark ratings:

Green Mark Rating Green Mark Points
Green Mark Platinum 90 and above
Green Mark GoldPlus 85 to <90
Green Mark Gold 75 to <85
Green Mark Certified 50 to <75

There is now greater impetus to strive for the next Green Mark level, especially for buildings at the Green Mark Gold Plus level. Only 5 points separate this from the highest Green Mark Platinum level, making it an attainable goal.

With the 2008 revision of the Green Mark programme, developers can score points by using Green Label certified products such as our bamboo flooring. Under this category, there is a total of 1.5 points available. Any extra building costs is more than offset by the extra GFA available.

When a mere 5 points could equate to a difference of millions of dollars, every little bit helps.

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New $15m green building fund for recycling building materials

The Singapore government has just announced a new $15m green building fund to encourage use of recycled building materials.

It doesn’t sound like much, but the use of this fund is very specific:

“The fund will focus on developing capabilities in recycling waste from the demolition of buildings and in using recycled materials for construction.” 

Money certainly speaks louder than words, a sentiment echoed by Andrew Khng, president, Singapore Contractors Association, who said: “… for the contractors, we need some kind of incentive to push us to go green on our own.” - ChanneNewsAsia

A nice tweak to BCA’s Green Mark scheme is mentioned in the Straits Times report:

“Currently, those aiming for the ‘Goldplus’ and ‘Platinum’ standards under its Green Mark scheme can opt out of these measures by beefing up other areas such as greenery and accessibility to public transport. But the changes make mandatory a prescribed minimum level of effort in this regard.”

Lastly, the AsiaOne web site’s motoring section focused on the successful trial which used recycled asphalt-pavement waste in road construction.

Which made me wonder why we took so long in the first place, especially since road works in Singapore are going on all the time.

This is a step in the right direction, let’s hope for more government support in the coming months.

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