Singapore extends ABSD remission timelines for large en bloc projects

The Singapore government has announced an extension of the Additional Buyer's Stamp Duty (ABSD) remission timelines for developers undertaking large-scale en bloc redevelopment projects. Effective from July 29, 2026, developers will have up to six years to complete and sell all residential units for sites yielding between 700 and 1,399 homes, and up to seven years for sites yielding 1,400 or more units. This policy change aims to support developers in managing the complexities associated with large-scale projects and to encourage the rejuvenation of older estates, thereby increasing housing supply. The extension applies to sites purchased on or after the effective date. Developers are expected to benefit from the additional time, allowing for more comprehensive planning and execution of large en bloc projects. This move is anticipated to stimulate the property market by facilitating the redevelopment of sizable sites, ultimately contributing to the enhancement of Singapore's urban landscape.