Greater Southern Waterfront
Geographical area: Asia and the Pacific
Location: Singapore
City size: XL (above 5,000,000 inhabitants)
Promoter: National Government of Singapore
Developer: National Government of Singapore and Urban Redevelopment Authority
Start year:
End-year: In progress
Implementation phase: Implementation in progress
Project size: Neighborhood
Total area of intervention (in sqm): 4.000.000
Total investments (in USD): 2.3 billion
The Greater Southern Waterfront is a large urban redevelopment project in Singapore, covering 30 kilometers of waterfront land. This area has been historically underutilized and primarily industrial, while it is now being transformed into a dynamic mixed-use district. The Greater Southern Waterfront is located close to the city center and to key financial districts. The huge population growth experienced by the city throughout the years is posing important housing and land use challenges to the National Government of Singapore. The state faced a strong housing pressure particularly after the Second World War, thus the Government needed to implement a strategy to maximize the use of available land to host the population growth. The Greater Southern Waterfront is part of the broader and long-term urban renewal strategy of the National Government to absorb the increase residential and commercial spaces demand. The large-scale development of the Waterfront started in 1967 with the introduction of the Government Land Sales program. Initially, the land involved in the Greater Southern Waterfront initiative was predominantly owned by the Singaporean government, with smaller, fragmented parcels either privately owned or abandoned. Through the Government Land Sales, the National Government of Singapore began selling land to private developers under 99- and 60-year leasehold agreements in order to facilitate redevelopment of the interested area. To further boost participation in the land sale programs, the National Government included a variety of tax- and development-related incentives for private developers and landowners. The success achieved by the Government Land Sale programs pushed the National Government to start a city-wide redevelopment of several districts spread throughout the city, implementing a long-term plan concerning the entire state. The redevelopment of the Greater Southern Waterfront saw the implementation of three smaller-scale renovation initiatives, namely the Golden Shoe District, the Singapore River cleanup, and the creation of Marina Bay. All the initiatives saw the participation of the Urban Redevelopment Authority, which is the public body appointed to develop the redevelopment masterplans, set out urban functions and guidelines, and conduct the Government Land Sales on behalf of the National Government. The Urban Redevelopment Authority and the National Government started the renovation process of the Greater Southern Waterfront by conducting the public infrastructure and environmental cleanup works. The National Government and the Urban Redevelopment Authority conducted together the restoration works of the Singapore River, which included the resettlement of residents, the phasing out of pig and duck farms, and the relocation of the public food centers. The National Government also provided the Golden Shoe District with additional parking facilities, improved road networks, local food centers and pocket parks for the residents. The National Government also conducted the land reclamation and public infrastructure works in Marina Bay to create roads and rail networks, pedestrian bridges, the Marina Barrage dam and underground tunnels. The infrastructure works conducted by public authorities and the incentives provided through the Government Land Sales attracted private developers to buy land property in the Greater Southern Waterfront and conduct redevelopment projects. The Golden Shoe District was transformed into a thriving financial district which attracted international companies and important financial and banking groups. The restoration of the Singapore River prioritized the preservation of cultural and environmental heritage, the establishment of new commercial activities and the conservation of the River biodiversity and natural environment. Lastly, the Marina Bay area transformed the reclaimed land into a vibrant and modern mixed-development neighborhood hosting residential buildings, financial activities, international companies, public amenities and touristic facilities. In order to ensure coherence between private developments and the Government long-term redevelopment strategy, the Urban Redevelopment Authority imposed strict requirements to private developers on floor-area ratio, land use, buildings heights and other development-related subjects. The renovation of the Greater Southern Waterfront has been a powerful economic growth driver for the entire city of Singapore. The establishment of international companies, banks, financial groups and commercial activities provided residents with important job opportunities. In addition, the revitalization of the area boosted the property values of residential buildings, with important benefits for homeowners. From a social perspective, the creation of new residential buildings relieved the housing pressure experienced by the city, also providing public housing units to resettled citizens. The mixed-use districts created focused on improving the overall wellbeing of the population by providing cultural activities, green areas, and recreational spaces. Through the restoration of the Singapore River, the initiative also targeted the restoration of the natural environment of the area, promoting the local wildlife and significantly improving biodiversity.
Land use zoning
As a mixed-use development, the revitalization of the Greater Southern Waterfront involved the construction of different residential buildings, office spaces and commercial activities. In addition, the project also implemented widespread green areas, pocket parks, open spaces and public buildings to host recreational activities and events. The waterfront redevelopment also provided the construction of new roads, streets, pedestrian walks and bridges, together with institutional and public buildings.
Economic
The Greater Southern Waterfront project has been a powerful driver of socio-economic growth in Singapore. The transformation of previously underutilized waterfront areas into vibrant mixed-use districts has attracted substantial investment from both domestic and international sources. This revitalization has led to the creation of new commercial hubs, office spaces, and residential zones, resulting in increased property values and significant job creation. The Greater Southern Waterfront is a key element of Singapore’s broader economic strategy, aimed at fostering innovation, stimulating business opportunities, and enhancing tourism, all of which contribute to the nation’s GDP growth.
Environmental
The Greater Southern Waterfront project in Singapore has significantly influenced the local urban environment by prioritizing sustainability and ecological preservation. This initiative integrates parks, nature reserves, and waterfront promenades into the urban landscape, promoting biodiversity and enhancing ecosystem resilience. The waterfront regeneration also included the expansion of green corridors and the establishment of marine habitats along the entire waterfront, which have been crucial in supporting local wildlife and improving the ecological health of the entire area. Furthermore, the project incorporates sustainable building practices and eco-friendly infrastructure, contributing to a reduced carbon footprint and ensuring long-term environmental benefits. Some examples are construction of the riverfront promenade and pedestrian walks in order to reduce car usage, and the construction of the Common Services Tunnel in the Marina Bay area, which reduces waste of electricity, energy and water waste by creating a centralized tunnel system to serve the entire district.
Social
Certificates
The renovation initiative did not receive any certification.
Funding source
The renovation of the Greater Southern Waterfront of Singapore has been funded by private resources from private developers and by public funds from the National Government of Singapore. The total funding provided by the National Government of Singapore stands at around USD 2 billion, of which USD 300 million employed for the cleanup of the river and restoration of the area.
Financing and economic instruments
The National Government of Singapore employed direct grants to finance the redevelopment initiative. The grants employed to finance the infrastructure and restoration works conducted by the National Government are gathered from the Consolidated Fund which includes direct and indirect taxes, licenses, permits, user fees and charges. The environmental cleanup of the Singapore River and the restoration of the entire area costed around USD 300 million to the National Government of Singapore, while the total costs sustained by the National Government of Singapore to redevelop the Marina Bay area stands at around USD 2 billion. To facilitate the redevelopment, the National Government of Singapore employed land management instruments by acquiring fragmented and small land parcels in the area to merge and sell them to private developers. In addition, to boost participation in the land sale program, the National Government introduced several incentives such as lower property tax rate, no development charges, and an increased length for tender payment duration. Among tax-related incentives, the National Government of Singapore lowered the property tax rate from 36 to 12 percent for a period of 20 year, and offered exemption from property tax payments for six months. The private developers financed the individual redevelopment project with private resources to purchase the land parcel from the National Government of Singapore and to conduct the redevelopment.