The iconic terraced facade of the 47-year-old Golden Mile Complex is set to stay, with the Urban Redevelopment Authority (URA) taking the first step towards gazetting the property for conservation. It is an unprecedented government move for a large building that is not state-owned, said an analyst. And to help ensure that the URA decision does not deter developers in a future collective sale, additional planning incentives are offered, including a one-third increase in floor area with a waiver of part of its development charge and the option to adjust the boundary of the 1.3ha site.

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