$1b a year to renew and transform HDB estates

Feb 16, 2007

BIG INVESTMENTS FOR THE FUTURE

$1b a year to renew and transform HDB estates


PUBLIC housing estates will undergo a major regeneration that will cost $1 billion a year.

This will start in five years' time and older estates will be the first to benefit.

Second Finance Minister Tharman Shanmugaratnam promised that this systematic and total urban regeneration would transform Housing Board (HDB) estates and thus help to ensure a 'quantum leap' in the quality of life for Singaporeans.

'HDB homes nestled in lushly landscaped common areas, fully fitted with elderly-friendly facilities, connected to the rest of Singapore by an efficient road and rail system, and linked into green corridors and waterways.

'This will be the Singapore of 2020,' Mr Tharman said.

He said that the aim of this transformation was to ensure a home that would be both distinctive and endearing to Singaporeans.

'It will be a place where every family feels they own not just their flat, but their neighbourhood; where our elderly lead active lives; and where the young can find a space for every interest and aspiration,' Mr Tharman added.