ARTICLE · 11 MARCH 2025

Changes To Housing Developers' ABSD Remission Timelines For Complex Projects And For CORENET X - A Welcome Step In The Right Direction!

Dentons Rodyk & Davidson

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On 5 March 2025, the Singapore Government announced changes to the regime for the Additional Buyer's Stamp Duty (ABSD) remission timelines for licensed housing developers for the following scenarios...

SingaporeReal Estate and Construction

Shang Chai Chua

On 5 March 2025, the Singapore Government announced changes to the regime for the Additional Buyer's Stamp Duty (ABSD) remission timelines for licensed housing developers for the following scenarios:-

For Complex projects; and
For approval of building works for housing projects, including smaller projects with total gross floor area (GFA) under 30,000 sqm, submitted through CORENET X.

1. For complex projects

Sites acquired by licensed housing developers will be eligible for extensions to their commencement, sale and completion timelines for ABSD remission under this scenario if the following requirements are met:-

The Site is purchased on or after 6 March 2025 for housing development by licensed housing developers

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