Advertisement
Singapore markets closed
  • Straits Times Index

    3,292.93
    -3.96 (-0.12%)
     
  • Nikkei

    38,236.07
    -37.98 (-0.10%)
     
  • Hang Seng

    18,475.92
    +268.79 (+1.48%)
     
  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     
  • Bitcoin USD

    62,871.69
    +3,737.56 (+6.32%)
     
  • CMC Crypto 200

    1,362.31
    +85.33 (+6.68%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • Dow

    38,675.68
    +450.02 (+1.18%)
     
  • Nasdaq

    16,156.33
    +315.37 (+1.99%)
     
  • Gold

    2,310.10
    +0.50 (+0.02%)
     
  • Crude Oil

    77.99
    -0.96 (-1.22%)
     
  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     
  • FTSE Bursa Malaysia

    1,589.59
    +9.29 (+0.59%)
     
  • Jakarta Composite Index

    7,134.72
    +17.30 (+0.24%)
     
  • PSE Index

    6,615.55
    -31.00 (-0.47%)
     

Singapore among 10 cities leading the way in urban mobility

Housing loans account for 31% of domestic banking unit
Notably, housing and Building and Construction sector loans constitute between 40 and 50 percent of the total loans of Singapore’s three giant banks

View of rush hour traffic in Singapore.

Singapore has been named among 10 cities in Asia Pacific that are implementing big plans to improve urban mobility, according to a report launched by the Urban Land Institute (ULI) and Centre for Liveable Cities (CLC) on Tuesday (6 June) at the ULI Asia Pacific Summit.

The other cities on the list are Seoul, Shanghai, Suwon, Taipei, Tokyo, Bandung, Ho Chi Minh City, Sydney and Yangon.

The report noted that Singapore’s growing population which now stands at 5.6 million and limited land has led to more space-efficient modes of transportation.

More incentives have also been introduced for people to use public transport and embrace new forms of transportation such as personal mobility devices (PMDs).

ADVERTISEMENT

Folding bikes and PMDs are now allowed on public transport, and there are numerous bike-sharing services available. As of 2016, property developers are also required to submit a detailed Walking and Cycling Plan as part of their development plans.

The push for a “car-lite” city means public transport usage now makes up 66 percent of all peak-hour journeys. At the same time, PMD users have increased significantly to at least 25,000, with about 25 percent using their devices daily.

“By welcoming new technologies while helping stakeholders and users adapt to change, Singapore is focusing on people’s needs and working with the market to find mutually beneficial solutions,” said the report. “This allows for greater systemic innovation, and is a prerequisite for achieving ‘mobility as a service’.”

Read the full report here.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg