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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