There will be a bigger upgrading budget and shopowners will have to bear less of the cost to upgrade their shops as part of the enhanced Revitalisation of Shops (ROS) Scheme, the Housing and Development Board (HDB) said on Monday (May 9). The ROS upgrading budget for each HDB shop will be increased by 75 per cent from S$20,000 to S$35,000 per shop, according to the press release. To encourage more...
HDB Shops
Shops sold by the Housing and Development Board on a 30-year-old lease will be returned to the lessor - the HDB - upon the expiry of the lease, National Development Minister Lawrence Wong reiterated in Parliament on Tuesday (Mar 1). Where possible, and if in line with future planning intentions, HDB can consider allowing these shopowners to rent the shops after the lease expires, he added. In...
National Development Minister Khaw Boon Wan said recent sales numbers do not suggest a speculative element in Housing and Development Board (HDB) shops, and it will not be tenable for HDB to impose new restrictions like stricter citizenship eligibility. In a written parliamentary reply to MP Ong Teng Koon, Mr Khaw said Singaporeans and Singaporean-owned companies own about 95 per cent of the sold shops,...