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Public housing in Singapore is subsidised, built, and managed by the government of Singapore. Starting in the 1930s, the country's first public housing was built by the Singapore Improvement Trust (SIT) in a similar fashion to contemporaneous British public housing projects , and housing for the resettlement of squatters was built from the late ...
In 2018, 78.7% of Singaporean residents live in public residential developments, ranging from studio units to executive condominiums provided by the HDB, a major factor in Singapore having one of the highest home-ownership rates – over 90% of the resident population – in the world.
The condominium was designed by Peter Pran and Timothy Johnson with leading design firm NBBJ. The two buildings include a glass facade, sculpted Marina Bay Tower to look like a sail, and configured the complex representative of a huge canyon, reflecting his utilisation of inspirations by the sun, the wind, and the water respectively.
The Interlace's site formerly housed the 607 units Gillman Heights Condominium, which is 50 percent owned by the National University of Singapore (NUS). [6] The property was subsequently sold to CapitaLand through a collective sale but the sale was controversial as NUS held a 16 percent stake in Ankerite, a private fund that was a subsidiary of CapitaLand.
The site was acquired by CapitaLand in 2011 for $550 million, and architect Moshe Safdie was hired to design the building. [1] In March 2012, a month prior to the launch of the complex, based on preliminary prices received by marketing agents, the condominium was estimated to be among the most expensive suburban condominiums in Singapore. [2]
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...
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