# Longer ABSD remission timelines for developers of large and mega en bloc sites

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-28T02:48:02.000Z
- **Author:** Fiona Lam
- **Original:** https://www.edgeprop.sg/property-news/longer-absd-remission-timelines-developers-large-and-mega-en-bloc-sites
- **Topics:** Government & Policy, Transactions & Deals

## Featured rationale

The longer ABSD remission timelines may reduce execution and sales risks for large redevelopments, potentially improving developer confidence without ensuring a broad revival in collective sales.

## AI summary

Developers acquiring en bloc sites from July 29 receive six years to complete and sell 700–1,399 homes, and seven years for projects with at least 1,400 homes.

## Original article

For complex en bloc projects that can yield 700 or more homes, property developers will get more time to complete and sell all residential units before the 35% portion of additional buyer’s stamp duty (ABSD) can be remitted to them.

The extended remission timelines will apply to large and mega sites purchased on or after July 29 this year, said the Ministry of Finance (MOF) and Ministry of National Development (MND) in a July 28 announcement.

This is meant to support licensed housing developers in undertaking large-scale en bloc redevelopments, and thereby rejuvenate those sites and produce additional housing supply, the announcement added.

Read also: Kingsford Group buys Tan Boon Liat Building en bloc for $950 mil

Large en bloc sites, classified as Category 1A, can yield 700 to 1,399 residential units. The ABSD completion and sale timeline is now six years, up from 5.5 years.

Mega en bloc sites, or Category 1B, can yield 1,400 or more homes. Developers will have seven years to complete such projects and sell all homes to qualify for the ABSD remission, up from 5.5 years.

In addition, mega sites will face an intermediate sales condition. Developers will be required to sell at least half of the residential units at the end of six years. If they fail to do so, the 35% remittable component of the ABSD with interest will be clawed back in full at the end of six years.

Current and revised remission timelines for collective sale sites, by no. of residential units and intensification factor after redevelopment:

Both large and mega sites are currently under a single Category 1, with a completion and sale timeline of 5.5 years.

The commencement timeline remains at 2.5 years for both, which means housing development must start within 2.5 years from the date of acquisition of the site.

Read also: People's Park Centre takes third stab at collective sale with $1.48 bil guide price

To qualify for the extended completion and sale timelines, the minimum intensification factor remains at 1.5 times. That means the number of residential units upon redevelopment is required to be at least 1.5 times the number of residential units in the existing development.

Leonard Tay, head of research at Knight Frank Singapore, said the revisions are “a long time coming”, as “it is only logical that a sense of proportion to scale should be adopted into the policy, so that differences in sizes are recognised on a realistic and practical level”.

This is given that large to very large redevelopment projects face materially different risks in execution, construction and sales, as compared to conventionally sized residential projects, Tay noted.

What it could mean for owners

The collective sale market, especially for large sites, has largely been muted since the government raised the ABSD for developers to 40% in 2021.

The number of collective sales has dwindled to four in 2025, down from an estimated 17 in 2021, according to Huttons. This year, Loyang Valley was sold, while Tan Boon Liat Building’s deal is awaiting owners’ approval.

The latest revision to ABSD remission timelines may prompt owners to consider relaunching their developments en bloc, said Mark Yip, CEO, Huttons Asia.

Read also: Aspial sells skyscraper site at discount; Huationg buys land for dormitory; and other listco property deals

However, there may not be a big increase in the number of sites actually launched for collective sale, as it will depend on the reserve price and the proportion of foreigners and investors in the development.

“The prohibitive 60% ABSD on foreigners will lead to a veto on a collective sale, as the replacement home will likely cost more than what they can receive in the event of a successful [en bloc] sale,” Yip added.

For ageing condo projects that are facing challenges in upkeep and maintenance, the policy would hopefully offer them a viable exit, according to Tay from Knight Frank.

“It remains that for collective sales to gain further momentum, en bloc sites will need to be launched at realistic price levels,” Tay said.

A key contributing factor that carried some of the recent successful en bloc projects over the finishing line was a reduction in price from earlier attempts.

“Owners of sites with compelling redevelopment potential with intensification, accompanied with pricing within the risk-reward target zone of developers, are best positioned to attract interested buyers,” Tay opined.

More land acquisition options; better managing delays

As for developers, the longer timelines will give them a longer runway to sell units and should mitigate some development risks on large projects, where sales naturally take longer, noted PropNex CEO Kelvin Fong.

The changes could thus give developers more confidence to undertake larger and more ambitious projects, in his view.

Also, the regime change can help support the rejuvenation of ageing estates and the more intensive use of well-located land. Over time, this benefits the wider market through fresh, well-sited homes, Fong said.

The further extension is likely to have a more significant impact on encouraging developers to consider larger-scale en bloc sites, as compared to the first timeline extension framework in March 2025, according to Tricia Song, CBRE head of research, Singapore and Southeast Asia.

“Larger sites, in our opinion, are more efficient in reaping economies of scale during construction,” she said. “They are also more transformational and thus better able to achieve ‘rejuvenation effects’ on the precinct and ultimately offer better value to end-buyers with more facilities spread over lower maintenance costs.”

That said, while this removes a size hurdle, there remain challenges to successful en bloc sales such as divergent owner interests and an uncertain deal completion timeframe.

Developers generally prefer government land sale (GLS) sites due to greater transaction certainty, with the government as the only seller, and thus a more straightforward and faster process, Song said.

While the GLS programme will remain the primary source of residential land for developers, the extended ABSD timelines could encourage large en bloc opportunities as an alternative.

“This may be particularly relevant when competition for well-located GLS parcels is intense, or when developers are seeking sizeable redevelopment sites that are not readily available through GLS,” said Marcus Chu, CEO of ERA Singapore.

In particular, collective sale sites can also provide access to established neighbourhoods where undeveloped state land may be limited. Older developments in mature estates may offer redevelopment potential supported by existing schools, transport connectivity, amenities and a proven residential catchment, Chu noted.

Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group, said developers will have more time to exit from new risks that may come from fresh typology and design.

They may be more willing to explore complex designs and take part in high-risk, large-scale projects without facing hefty penalties, in Sun’s view. Such projects may involve incorporating eco-friendly construction methods, or building integrated developments or taller infrastructure that entail longer and more complicated construction.

The longer timelines can also help developers manage unforeseen construction delays arising from procurement delays or supply chain disruptions amid the volatile macro-economic environment, Sun added.

Knight Frank’s Tay said the policy adjustment does not fundamentally alter project economics and as such is unlikely to trigger a broad resurgence in en bloc activity.

Developers remain subject to the 5% non-remittable ABSD component and are still exposed to significant clawback risk if conditions are not met. Also, Tay highlighted that construction costs, financing costs, land prices and achievable selling prices will continue to influence redevelopment viability.

Up to 7.5-year timeline

On top of the latest changes, an additional extension of six months to the ABSD remission timelines will continue to be granted if the large or mega sites also have complex technical or infrastructural requirements, are approved under the Strategic Development Incentive (SDI) scheme, or adopt new construction technologies to achieve higher productivity targets.

Those fall under the existing Categories 2 to 4 under the ABSD(HD) Remission Timeline Extension Framework for Complex Projects, which was implemented in March 2025 to provide a six-month extension.

That means large or mega sites that also qualify for another category within the framework will receive the six-month extension too, giving them a commencement timeline of three years, up from 2.5 years. Completion and sale timelines will also increase to 6.5 years for such large sites and 7.5 years for mega sites.

Licensed housing developers buying residential land are subject to 40% ABSD — comprising a 35% upfront remittable component and 5% that is not remittable.

The 35% with interest will be clawed back by the authorities if the developer does not start development, complete it and sell all housing units by the stipulated timelines.

These conditions are intended to inject housing supply in a timely way, and to encourage housing developers to bid for land prudently.

ERA’s Chu said that over time, a more balanced land supply ecosystem, comprising both GLS and collective sale sites, could contribute to a more diversified housing landscape in Singapore.

“This may encourage a wider range of projects across different locations, tenure profiles and market segments, while supporting Singapore’s broader objectives of urban renewal, housing choice and sustainable long-term development,” he added.

## Chinese translation

> Translation model: grok_cli

### 大型及特大型集体出售地块开发商获更长额外买方印花税退税期限

可建700至1,399个住宅单位的地块须在6年内建成并售出全部单位；可建1,400个或以上单位的地块为7年

对于可建成700个或以上住宅单位的复杂集体出售（en bloc）项目，房地产开发商将获得更长时间，以在可获退还35%额外买方印花税（ABSD）之前完成并售出全部住宅单位。

财政部（MOF）与国家发展部（MND）在7月28日的公告中表示，延长后的退税期限将适用于今年7月29日或之后购入的大型及特大型地块。

公告补充称，此举旨在支持持牌住屋开发商开展大型集体出售重建项目，从而更新这些地块并增加住房供应。

延伸阅读：Kingsford Group以9.5亿新元集体收购陈文烈大厦

大型集体出售地块归为1A类，可建成700至1,399个住宅单位。额外买方印花税的完工及销售期限现为六年，高于原先的5.5年。

特大型集体出售地块即1B类，可建成1,400个或以上住宅单位。开发商须在七年内完成此类项目并售出全部单位，方可符合额外买方印花税退税资格，高于原先的5.5年。

此外，特大型地块将面临中期销售条件。开发商须在六年期满时售出至少一半住宅单位。若未能做到，可退还的35%额外买方印花税连同利息将在六年期满时全数追回。

集体出售地块现行及修订后退税期限（按住宅单位数量及重建后密度提升系数划分）：

大型与特大型地块目前同属单一的1类，完工及销售期限为5.5年。

开工期限对两者仍为2.5年，即住屋发展须自购地之日起2.5年内开工。

延伸阅读：珍珠坊以14.8亿新元底价第三度尝试集体出售

要符合延长后的完工及销售期限，最低密度提升系数仍为1.5倍。即重建后的住宅单位数量须至少为现有发展项目住宅单位数量的1.5倍。

莱坊新加坡研究主管Leonard Tay表示，有关修订“早该落实”，因为“按规模比例调整政策才合乎逻辑，从而在现实与实务层面认可规模差异”。

他指出，大型至特大型重建项目在执行、建造与销售方面面临的风险，与常规规模住宅项目存在实质差异。

对业主可能意味着什么

集体出售市场，尤其是大型地块，自政府于2021年将开发商额外买方印花税提高至40%以来大体低迷。

据Huttons统计，集体出售宗数从2021年估计的17宗减至2025年的4宗。今年，Loyang Valley已售出，而陈文烈大厦的交易仍待业主批准。

Huttons Asia首席执行官Mark Yip表示，额外买方印花税退税期限的最新修订，或促使业主考虑重新推出集体出售。

延伸阅读：Aspial折价出售摩天楼地块；华中购地建宿舍；及其他上市公司房产交易

不过，实际推出集体出售的地块数量未必会大幅增加，因为这取决于底价以及发展项目中外国人与投资者的比例。

“对外国人征收的60%额外买方印花税过高，将导致其对集体出售行使否决权，因为重置住房的成本很可能高于集体出售成功后所能分得的款项。”Yip补充道。

莱坊的Tay认为，对于维护保养面临挑战的老化共管公寓项目，该政策有望为其提供可行的退出路径。

“集体出售要进一步升温，关键仍是集体出售地块须以现实价格水平推出。”Tay说。

近期部分成功集体出售项目能最终过关的一个关键因素，是相较早前尝试下调了价格。

Tay认为：“具备引人注目的重建潜力与密度提升空间，且定价落在开发商风险回报目标区间内的地块业主，最有条件吸引有兴趣的买家。”

更多土地收购选择；更好管理延误

至于开发商，PropNex首席执行官冯瑞龙指出，更长的期限将为其销售单位提供更长跑道，并应能缓释大型项目的部分开发风险——此类项目销售天然需要更长时间。

他认为，有关调整因而可能让开发商更有信心承接更大、更具雄心的项目。

此外，制度调整有助于支持老化组屋区/屋苑更新，以及更集约地使用优越地段的土地。冯瑞龙表示，长远来看，市场可因更新、地段优越的新房源而受益。

世邦魏理仕新加坡及东南亚研究主管宋翠芬（Tricia Song）表示，与2025年3月首次延长期限框架相比，此次进一步延长更可能显著鼓励开发商考虑更大规模的集体出售地块。

“我们认为，较大地块在建造过程中更能发挥规模经济。”她说。“它们也更具改造性，因而更能对周边区域产生‘更新效应’，并以摊薄的维护成本提供更多设施，最终为终端买家带来更好价值。”

话虽如此，虽然这消除了规模障碍，成功集体出售仍面临业主利益分歧、交易完成时间不确定等挑战。

宋翠芬表示，开发商普遍更偏好政府售地（GLS）地块，因为交易确定性更高——政府是唯一卖方，流程更直接、更快。

虽然政府售地将继续是开发商住宅用地的主要来源，延长额外买方印花税期限或可鼓励大型集体出售机会成为替代选择。

ERA Singapore首席执行官朱福兴（Marcus Chu）表示：“当优越地段的政府售地地段竞争激烈，或开发商寻求政府售地不易提供的大规模重建地块时，这一点可能尤其相关。”

他指出，集体出售地块还可进入既有社区——那里未开发的国有土地可能有限。成熟组屋区/屋苑中的较旧项目，或可依托现有学校、交通衔接、配套设施及成熟住宅客群，展现重建潜力。

Realion（OrangeTee & ETC）集团首席研究员兼策略师孙迎馨表示，开发商将有更多时间退出新户型与设计可能带来的新风险。

在她看来，开发商或更愿意探索复杂设计，并参与高风险的大型项目，而不必面对沉重罚则。此类项目或涉及采用环保建造方法，或建设综合发展项目或更高建筑，从而需要更长、更复杂的施工。

孙迎馨补充称，更长的期限也可帮助开发商在宏观环境波动下，应对采购延误或供应链中断所导致的意外施工延误。

莱坊的Tay表示，政策调整并未从根本上改变项目经济性，因此不太可能引发集体出售活动的广泛复苏。

开发商仍须缴纳不可退还的5%额外买方印花税部分，且若未能满足条件仍面临重大追回风险。Tay还强调，建造成本、融资成本、地价及可达售价将继续影响重建可行性。

最长可达7.5年期限

在最新调整之外，若大型或特大型地块同时具有复杂技术或基建要求、获战略性发展激励计划（SDI）批准，或采用新技术以提高生产率目标，仍可继续获额外六个月的额外买方印花税退税期限延长。

上述情况属于2025年3月实施、为复杂项目提供六个月延长期的额外买方印花税（住屋发展）退税期限延长框架中的现有2至4类。

这意味着同时符合框架内另一类别的大型或特大型地块，也将获得六个月延期，开工期限由2.5年增至三年。完工及销售期限亦将分别增至大型地块6.5年、特大型地块7.5年。

持牌住屋开发商购买住宅用地须缴纳40%额外买方印花税——其中35%为可预付后退还部分，5%不可退还。

若开发商未能在规定期限内开工、完工并售出全部住宅单位，当局将连同利息追回该35%。

这些条件旨在及时注入住房供应，并鼓励住屋开发商审慎竞投土地。

ERA的朱福兴表示，长远来看，由政府售地与集体出售地块共同构成的更均衡土地供应生态，或有助于新加坡形成更多元的住房格局。

他补充道：“这或鼓励在不同地点、产权年限与市场细分推出更广泛的项目，同时支持新加坡城市更新、住房选择与可持续长期发展的更广泛目标。”