Considerations for Pro-rating ABSD Remission Timeline for Developers by Size of Residential Development

64 Mr Chua Kheng Wee Louis asked the Minister for National Development (a) whether the Government has considered pro-rating the Additional Buyer's Stamp Duty (ABSD) remission timeline for developers by the size of the residential development as measured by Gross Floor Area (GFA) or projected number of residential units; and (b) if not, why not.

Mr Chee Hong Tat: The ABSD regime for licensed housing developers, also known as ABSD (HD), is intended to ensure the timely release of housing supply by developers. Since March 2025, we have extended the ABSD (HD) remission timelines for the commencement, sale and completion of complex projects, which include large en bloc redevelopments where the site yields at least 700 residential units upon redevelopment and the number of residential units upon redevelopment is at least 1.5 times the number of residential units of the existing development.