Singapore plans 60-storey BTO flats at Pearl’s Hill, first in 40 years

In Brief

Singapore’s HDB to launch tallest BTO project at Pearl’s Hill with possible subsidy clawback.

Key Facts

• The Housing and Development Board (HDB) plans a new Build-to-Order (BTO) project at Pearl’s Hill with over 60 storeys, which would be Singapore’s tallest HDB development, according to CNA reports.
• This would be the first BTO project launched at Pearl’s Hill in more than 40 years, as reported by CNA.
• The project is scheduled for launch in October 2023, according to CNA.
• Another BTO project is planned near Caldecott MRT station, also scheduled for launch in October 2023, per CNA.
• Analysts cited by CNA estimate the subsidy clawback for the Pearl’s Hill BTO project could be as high as 20%.

What Happened

According to CNA, the Housing and Development Board (HDB) will launch a new Build-to-Order project at Pearl’s Hill, marking the first such development there in over 40 years. The project is reported to feature flats in a building exceeding 60 storeys, potentially making it the tallest HDB development in Singapore. CNA also reports a separate BTO project planned near Caldecott MRT station, both scheduled for launch in October 2023.

Why It Matters

The Pearl’s Hill project, as reported by CNA, reflects government efforts to intensify land use in Singapore. The scale of the development may impact housing supply and urban density in the area. Analysts cited by CNA have noted that the potential subsidy clawback of up to 20% could influence affordability considerations for prospective buyers.