HDB pumps in S$11m to help 3,300 shops

The Housing and Development Board (HDB) will set aside another S$11 million to help 3,300 shops in 35 sites enhance their business vibrancy and competitiveness.

This is as part of its fourth batch of the Revitalisation of Shops (ROS) scheme.

HDB will also extend its co-funding portion for promotional events from the current three years to six years, in response to requests from the Merchant Associations (MAs).

The Revitalisation of Shops (ROS) scheme is part of the Government’s ongoing measures to help HDB retailers.

Piloted in November 2007, it has three components: co-funding for upgrading of common area, co-funding for promotional events and rent-free periods for tenants to renovate their shops.

The MAs may choose to take up all, or a combination of the measures.

For this fourth batch, HDB has selected a total of 35 sites for ROS co-funding: four sites for upgrading of common area and promotional events, and 31 sites for promotional events.

Source : Channel NewsAsia – 13 Jan 2012

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