REFURBISHING BUILDINGS AS AN ALTERNATIVE AGAINST COMPREHENSIVE REDEVELOPMENT

Abstract

Refurbishing old buildings in Singapore is not a new concept. The objectives of this study are to examine the rationale of commercial refurbishment as well as its economic viability against comprehensive redevelopment. The motivation for refurbishing old buildings is investigated by conducting a concise study of three overseas and five local case studies. A detail analysis on Central Building is carried out based on locational analysis, decision making process and investment analysis. From this study, it is found that private sector refurbished old buildings for profits maximisation. The public sector considers economic reasons as well as the historic, architectural and aesthetic values of buildings. The case study of Central Building reveals the economic viability of refurbishment as an alternative against comprehensive. From this study, it is found that private sector refurbished old buildings for profits maximisation. The public sector considers economic reasons as well as the historic, architectural and aesthetic values of buildings. The case study of Central Building reveals the economic viability of refurbishment as an alternative against comprehensive redevelopment.