by Jared Heng
Singapore’s Housing and Development Board (HDB) will set aside about S$11 million to help 3,300 shops in 35 sites enhance their business vibrancy and competitiveness.
In a statement on Friday, HDB said the move is part of its fourth batch of the Revitalisation of Shops (ROS) scheme.
The authority will also extend its co-funding portion for promotional events from the current three years to six years, in response to numerous requests from the Merchant Associations (MAs).
The ROS scheme is part of the government’s ongoing measures to help HDB retailers.
Piloted in November 2007, the scheme has three components: co-funding for upgrading of common areas, co-funding for promotional events, and rent-free periods for tenants to renovate their shops.
The MAs may choose to take up all, or a combination of the measures.
For this fourth batch, HDB has selected a total of 35 sites for ROS co-funding: four sites for upgrading of common areas and promotional events, and 31 sites for promotional events.