By Joy Chin & Anisa Pinatih
The value of a property or asset will diminish as they get older, eventually reaching the end of its life. Before this happens, people could make the most out of it through adaptive reuse, often funded by a scheme called brownfield investment, defined as purchases or leases of existing production facilities to launch a new production activity.
Adaptive reuse, therefore, is not just about restoring and refurbishing old buildings. In a broader sense, it means enhancing the value of a property or asset through, for example, diversification of a building’s functions to make sure that it remains attractive and continue to meet market demands.
This is because in this digital era, changes have become so rapid that many properties built years ago could easily become less attractive, as some of the building systems have become obsolete. To avoid this and to achieve maximum investment performance, one could identify areas of improvement in their property. From the construction point of view, the works often involve structural strengthening and/or adapting to new government regulations.
About the author:
Joy Chin obtained a Bachelor of Engineering (Honours) (Civil) from Nanyang Technological University. She is currently an engineer at RSP Architects Planners & Engineers Pte Ltd, Singapore, with three years of experience in AEIs and improvement projects in different sectors. These include the improvement works to Shangri La Hotel on Sentosa island, the Great World City’s AEI as well as Tuas and Woodlands Checkpoint’s AEI. Chin believes that a building’s performance could be optimised through constant upgrading; and that AEI could enhance the value of and develop properties to their full potential.