Written Answer by Minister for Law K Shanmugam to PQ on SLA Approval for Foreigners Buying Properties Zoned "Commercial" but Approved for Mixed Commercial and Residential Development Properties
3 August 2023 Posted in Parliamentary speeches and responses
Mr Lim Biow Chuan (Member of Parliament for Mountbatten SMC)
To ask the Minister for Law whether foreigners are required to obtain SLA approval for buying properties zoned as “Commercial” but which properties have been approved for mixed commercial and residential development.
1. Approval under the Residential Property Act (RPA) is required if a foreign person is seeking to acquire land that is zoned “Commercial” but where the permanent approved use is restricted under the Act. As an example, approval is required if a foreign person is seeking to acquire an entire mixed-use development with a permanent approved use that has a residential component of at least 60% of the total Gross Floor Area, which is within the current planning parameters for land zoned “Commercial & Residential”.
2. Under the RPA, a foreign person is generally not required to obtain approval to acquire individual strata units in a non-landed development.
Last updated on 3 August 2023