Ensuring proper financing is crucial when considering investing in a condominium. In Singapore, there are various mortgage choices available, but it is crucial to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into consideration their income and current debt obligations. It is wise to understand the TDSR and seek the advice of financial experts or mortgage brokers to make informed decisions and avoid excessive borrowing. Additionally, investors can also explore potential Singapore Projects to make a more informed decision about their condo investment.
2025 and Beyond: The Future of FM and Sustainable Built Environment in SingaporeAs we approach 2025, the built environment in Singapore is poised for significant transformation. The facilities management (FM) sector is facing a new set of challenges, including evolving regulatory demands, cost pressures, and technological advancements. In order to thrive and contribute to a sustainable built environment, FM must adapt and innovate to meet these challenges. There are three key drivers that will shape the future of FM in Singapore: the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the growing trend towards adaptive reuse in construction.There is a growing focus on sustainability in Singapore, and one of the key initiatives driving this is the Mandatory Energy Improvement regime, which will be implemented in the third quarter of 2025. This mandate will require existing energy-intensive buildings, such as commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m, to undergo energy audits and implement energy-efficiency improvement measures. This presents a significant opportunity for asset owners to take a medium to long-term view on capital expenditure-heavy investments in energy-efficient systems. By implementing the right strategies, buildings can achieve the target of reducing their energy usage intensity by 10% from pre-energy audit levels.Asset owners who participate in this energy improvement regime will not only contribute to a more sustainable built environment, but also reap benefits such as prolonging the lifespan of their assets, reducing long-term operating costs, and being eligible for grants to help cover the costs of energy efficiency upgrades. This will position them as leaders in the industry in terms of sustainability.Temasek Polytechnic is one such leader, as it has embarked on a bold ambition to digitise its campus operations in 2021. This smart campus is a model for sustainable facilities management and offers valuable insights into the future of FM. At the heart of Temasek Polytechnic’s smart campus is a suite of solutions that digitise campus operations, including facility booking, automating campus repair and maintenance work orders, and crowd management and temperature control measures. These systems are integrated into a common data environment, which generates data that is visualised, tracked, and monitored at a control centre on campus. This data allows campus operations teams to make informed decisions about maintaining the health of building systems, thereby maximising the return on investment in these assets and reducing operational carbon levels.Furthermore, the increasing focus on sustainability in Singapore is also evident in the fact that by 2027, all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million will be required to disclose their climate-related risks and opportunities. This will act as a catalyst for energy efficiency in not just existing buildings, but also new developments.Rising temperatures and energy costs will also drive investments in proptech, particularly predictive technology. As temperatures continue to rise, cooling demands in buildings will also increase. This will prompt more investments in technologies that can predict and mitigate these demands. HVAC systems are already a major contributor to operational costs, accounting for approximately 60% of total energy expenses in many buildings. Optimising these systems is crucial in mitigating rising energy costs, and this can be achieved by implementing energy-efficient solutions such as energy recovery systems or thermal energy storage. Additionally, optimising chiller plant operations to match changing weather conditions can also help reduce energy waste and costs.At a city and precinct level, extreme weather events such as floods and urban heat pose a threat to the health and performance of critical infrastructure. In order to mitigate these risks, building owners and city planners can utilise advances in web-based geospatial IT to identify flood-prone areas or areas exposed to extreme heat. This data can then be used to inform a comprehensive operational plan that can predict and mitigate the risk of equipment failure and downtime. This can also help in optimising chiller plant operations in response to changing weather conditions.Another trend that will shape the future of FM in Singapore is the growing trend towards adaptive reuse in construction. With the rising cost of construction in the country, more developers and contractors are turning to adaptive reuse as an alternative to traditional construction. This involves repurposing existing buildings and structures instead of demolishing and building from scratch. One reason behind this trend is the increase in construction costs, with mechanical and electrical costs rising by approximately 30% since the onset of the Covid-19 pandemic. This is driven by an increase in logistics costs, labour costs, and construction materials prices. As a result, there is a growing emphasis on utilising smart design and engineering practices to reduce costs and promote sustainable building practices. This is where proptech platforms such as Podium come into play. These platforms support integrated digital delivery, connecting developers, designers, and the supply chain to optimise construction productivity and promote sustainable building practices. By consolidating data from multiple sources, stakeholders across the building cycle can make informed decisions that minimise embodied carbon levels. This can be particularly helpful in cases where building owners have to decide whether to redevelop or reuse certain parts of the building.By utilising digital platforms like Podium, building owners can access valuable data on design, civil and structural engineering plans, and construction materials and components. This data can drive deliberate goals to minimise embodied carbon levels, thereby promoting sustainability in the built environment. By integrating Podium with other operational platforms, building owners can also track building performance metrics, such as energy, waste, water, indoor air quality, and occupancy trends. This can help drive operational carbon reduction goals and assist building owners in complying with local and international regulations and sustainable financing requirements. For example, by tracking the performance of ACMV equipment, building owners can make informed decisions about replacing or retrofitting these systems, thereby maximising their efficiency and lifespan. This is made possible by sensors that can monitor and track the performance of each component in the equipment, enabling predictive maintenance and reducing downtime and efficiency.Altogether, these three key drivers will shape the future of FM in Singapore and contribute to a sustainable built environment. By adapting and leveraging technology, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.