Budgeting for Commercial Renovation in Singapore: Cost Factors and Considerations

When budgeting for commercial renovation in Singapore, there are several cost factors and considerations to take into account. This article will discuss these factors and provide insights into the costs associated with various aspects of the renovation process.

What Are The Factors That Will Affected The Cost?

1. Consultation Services

In Singapore, building deposits for renovation usually cost a third of the rental rate. It is essential to work with a professional contractor and interior designer to ensure that your renovation project is well-planned and executed. Their expertise can help you make informed decisions on design, scope of work, and material requirements.

2. Material Costs

The cost of materials can vary greatly depending on the quality and type of materials used. For example, office renovation cost per square meter (sqm) in Singapore could start from S$300 to more than S$1000, with costs in terms of per square feet (sqft) ranging from S$30 to more than S$100. The cost per square foot can range from $100 to $200, with higher-end materials like marble or granite costing closer to $200.

3. Labour Costs

Labour costs, including electrical work, plumbing, and carpentry, can vary depending on the complexity of the project and the experience level of the contractor(s) hired for the job. For example, electrical work may cost around S$50/hour, plumbing S$20 to S$50/hour, and carpentry S$60/hour.

4. Demolition and Disposal

Demolition and disposal costs can range from $2,000 to $4,000 for a partial office renovation and $4,000 to $8,000 for a full office renovation.

5. Furniture and Equipment

The cost of furniture and equipment can vary widely depending on the quality and type of items chosen. For a partial office renovation, the cost can range from $10,000 to $20,000, while for a full office renovation, it can range from $15,000 to $30,000.

6. Permits and Licenses

It is crucial to obtain the necessary permits from relevant authorities in Singapore, such as the Singapore Land Authority (SLA) and the Building and Construction Authority (BCA). The fees for these permits can vary, with the SLA fee being a standard $100 and the BCA fee being approximately 1% of the total project cost.

7. Environmental Sustainability and Handicap Accessibility

Incorporating environmental sustainability and handicap accessibility features can increase the commercial renovation Singapore cost. However, these features can contribute to a more comfortable and efficient work environment in the long run. To keep costs down, consider the following tips:
  • Seek professional advice from a renovation company or interior designer to ensure your renovation project is well-planned and executed.
  • Compare quotes from different contractors to ensure you are getting the best value for your money.
  • Consider using cost-effective materials and design elements that do not compromise on quality.
  • Plan your renovation project carefully, taking into account factors such as the size of the space, the type of renovation, and the materials used.

What are The Benefits of Hiring an Interior Designer for Commercial Renovation in Singapore?

Hiring an interior designer for commercial renovation in Singapore can bring numerous benefits. Interior designers are experts in their field and can provide unique and creative solutions that meet your business needs. They can help you create a cohesive and professional look for your business, reflecting your brand identity and leaving a lasting impression on clients and partners. They can also provide personalized design solutions that align with your company’s brand, culture, and objectives. Interior designers can help you save time and money by skillfully planning and procuring materials, minimizing wastage and unnecessary expenses. They can also improve functionality and flow, ensuring that your office space is optimized for productivity and efficiency. Another benefit of hiring an interior designer is that they can guide every process of the renovation, from obtaining permits to coordinating with contractors, and ensure that the project is completed on time and within budget. They can also help you avoid costly mistakes by understanding the problems regarding interior designs before they happen.

In conclusion, budgeting for commercial renovation in Singapore involves considering various cost factors and working closely with professionals to ensure a successful project. By taking these factors into account and following the tips provided, you can create a comfortable and efficient work environment that is cost-effective in the long run. Contact Ovon for a complimentary consultation. Let’s discuss your unique needs and aspirations and take the first step toward creating a thriving business space that truly reflects your brand and vision.