Private developers 'not ruled out' in playing role in VERS flat redevelopment

By PC Lee / The Edge Singapore | September 10, 2018 6:12 PM SGT
The government is carefully studying the feasibility of allowing private developers to play a role in the redevelopment of old flats in the Voluntary Early Redevelopment Scheme (VERS), Minister for National Development Lawrence Wong said in Parliament on Monday.
However, Wong said the redevelopment must be carried out in such a way that “preserves the character of our HDB towns, and supports HDB’s mission to provide affordable and quality homes for Singaporeans”.
In response to a question from Fengshan MP Cheryl Chan, Wong said the government has already injected some private development in the redevelopment process for the Selective En bloc Redevelopment Scheme (SERS) and so “will not rule (private developers) out".
VERS was announced at last month's National Day Rally by Prime Minister Lee Hsien Loong and will take place when HDB flats reach about 70 years of age.
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