Source : Channel NewsAsia, 07 November 2007
HDB has awarded the tender of leasing out 120 flats vacated under the Selective En bloc Redevelopment Scheme (SERS) in Tiong Bahru to Katong Hostel at $230,280 per month.
It is on a 3 + 3-year tenancy.
These flats comprise 60 units of 3-room flats and 60 units of 4-room flats at Blocks 1, 3, 5, 7 & 9 Tiong Bahru Road.
HDB says it will assess the response to this pilot project, before deciding whether to expand the scheme in future.
If needed, HDB has a potential supply of about 5,000 units that can be introduced to bolster rental supply in the HDB market over the next three years.
This is a pilot project to lease out SERS flats to the general public so as to put these flats to better use in the interim period, pending their redevelopment. - CNA/ch
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