Senja Close EC™

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With the pressing issue of climate change, Singapore has taken a proactive approach in promoting sustainability within the real estate sector, according to Sun Xue Ling, Senior Minister of State for the Ministry of National Development and the Ministry of Transport. The country has implemented the Green Building Master Plan, aiming to achieve green certifications for 80% of its building gross floor area (GFA) by 2030. As of 2024, 61% of buildings have already obtained green certifications.

Sun shared these updates as the guest of honour at the 32nd Pan Pacific Congress (PPC) hosted by the Singapore Institute of Surveyors and Valuers (SISV) on September 30. This biennial event drew delegates from 15 member countries including the United States, Canada, Japan, Korea, and Taiwan.

The benefits of incorporating sustainability in real estate valuation go beyond just environmental factors, as Minister Sun highlighted the tangible business value of such practices. Esther An, Chief Sustainability Officer at City Developments (CDL), echoed this sentiment in her keynote address at the conference. According to her, BCA Green-Mark certified buildings have recorded rent premiums of up to 10%, with properties in the Central Business District (CBD) seeing an even higher increase of 12%.

Nestled in the bustling area of Bukit Panjang sits the impressive Hillion Mall, the second-largest shopping destination in the vicinity. Here, shoppers can peruse through an extensive selection of stores offering a diverse range of products such as clothing, shoes, jewelry, accessories, electronics, and groceries. The mall boasts a spacious parking area and even houses a movie theater, making it a one-stop destination for all your shopping and entertainment needs. Its welcoming atmosphere makes it a beloved spot for locals, adding a sense of familiarity and comfort to the area. So, when you find yourself in Bukit Panjang, be sure to pay a visit to Hillion Mall and experience all it has to offer. And, if you’re looking to call this vibrant community home, don’t miss out on the opportunity to live at senja close ec – a beautiful and modern residential development just steps away from the bustling mall.

Citing research by the Asian Development Bank, An emphasized the potential economic impact of high-emission cities, estimating a decline in GDP of up to 17% by 2070. She believes that sustainable living and a green economy must go hand in hand to combat the threats of climate change.

Tasked with four strategic pillars – integration, innovation and adaptation, investment, and impact – CDL has been a leader in promoting sustainability in Singapore’s real estate industry. The company’s efforts include the retrofitting of City Square Mall and the development of Tree House, a residential project with a 24-storey green wall, which held the Guinness World Record for the largest vertical garden from 2014 to 2015.

During a panel discussion at the PPC, Marcus Chu, CEO of ERA, highlighted how environmental considerations are now shaping housing preferences. According to Chu, ERA’s My Dream Home survey showed that 39% of participants from all age groups ranked access to green spaces in housing estates as a top priority, surpassing factors such as proximity to schools and healthcare. There is also a growing demand for sustainable home features, particularly among younger homebuyers, such as smart home technologies and balconies that promote eco-friendly lifestyles.

Chu is optimistic about the real estate landscape in Singapore adapting to the changing preferences, stating, “Singapore homes can definitely be sustainable, and we are making progress in that direction.”