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Project deferral: HDB upgrading not affected
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| Jermyn Chow |
Mon, Feb 25, 2008
The Straits Times
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A GOVERNMENT decision to postpone up to $3 billion worth of public projects will not affect upgrading programmes for Housing Board flats, said National Development Minister Mah Bow Tan yesterday.
The postponement affects some projects, like hawker centres and school upgrading, but 'urgent projects' like the NUS University Town - which will house athletes for the inaugural Youth Olympic Games in 2010 - will not be put on the back-burner, he said.
Other projects that will go on as usual are the building of expressways and the Downtown Line.
'We have (a) sufficient budget to be able to continue with our upgrading programmes. At the same time, of course, HDB will have to look into ways in which it can cut the costs, improve the methods and productivity, and make sure we cut down on waste,' he said in Tampines yesterday.
| The deferring of public projects is to help ease pressure on the construction sector, government officials said last November.
About 590 HDB blocks in 58 locations, including Yishun, Tampines and Hougang, have been selected for work under HDB's revised upgrading schemes.
These schemes include the Home Improvement Programme and Neighbourhood Renewal Programme unveiled last year.
Mr Mah repeated assurances that they will not be shelved.
The ongoing lift upgrading programme is also 'on schedule' to be completed by 2014, he said.
The upgrading of public housing and the remaking of new towns like Punggol and Yishun will raise the value of Singaporeans' assets, said Mr Mah.
That will mean they are better set up for their twilight years, if they choose to sell their flats back to the Government for retirement funds, he said.
He added that more details of the Government's lease buy-back scheme would be revealed during the Budget debate.
At least 25,000 people here are eligible for the scheme, which is open to those aged 62 and above who own a two-room or three-room flat.
On the demand for flats, HDB has said it is stepping up its building programme and plans to launch 4,500 flats early this year.
This comes after a record 10,240 applications were received for just 278 four-room, five-room and executive flats in mature estates such as Toa Payoh, Bukit Merah and Geylang.
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