Nov 7, 2007
In a pilot project to lease out vacated flats to the general public on a short term basis, the Housing and Development Board has awarded the tender of a state property at Tiong Bahru Road to Katong Hostel at a tender price of around $230,000 a month.
The pilot project involved leasing out flats vacated under the Selective En bloc Redevelopment Scheme on a short term basis to increase the supply of flats for rental housing.
HDB received 15 bids for a tender it called in August to lease out 120 vacated SERS flats in Tiong Bahru.
The lease would be to a master tenant on a 3 + 3-year tenancy.
HDB said it'll assess the response to this pilot project, before deciding whether to expand the scheme.
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