3,000 shops to benefit from HDB's $1.5m revitalisation scheme

5th batch to get funds assistance.

According to a release, the Housing & Development Board (HDB) will set aside about $1.5 million to help 3,000 shops in 32 sites island-wide enhance their business vibrancy and competitiveness.

This is the fifth batch of shops to benefit under HDB's Revitalisation of Shops (ROS) Scheme, and is rolled out in response to the numerous requests from the Merchants' Associations (MAs), following the success of the earlier four ROS batches.

The ROS is part of the Government's ongoing measures to help HDB retailers. Started in Nov 2007, the scheme has benefitted 51 sites (or 4,500 shops), covering about 50 per cent of our Town and Neighbourhood Centres. The scheme comprises three components:

Co-funding for upgrading of common area. To improve the overall shopping environment for residents, HDB co-funds physical upgrading works to its shopping complexes, as well as town and neighbourhood centres. The works could include shop directories, fixed awning, signage, facade improvements and landmark structures, etc.

Co-funding for promotional events. HDB will also co-fund up to 50 per cent of the expenditure for promotional events organised by MAs to attract consumers. From the promotional events organised by the past four ROS batches, retailers saw up to 30 per cent improvements in their sales. For this fifth batch, at least 60 events are expected to be organised in conjunction with the Lunar New Year, the Great Singapore Sale, and the Mid-Autumn Festival etc.

Rent-free periods for tenants to renovate their shops. HDB recognises that tenants could experience a drop in revenue when upgrading their shops. To assist them, HDB will grant tenants a rent-free period of up to one month when they renovate their shops in conjunction with the ROS scheme.

The MAs and retailers may choose to take up all, or a combination of the above measures based on their needs and preferences.

For this fifth batch, all 32 sites will qualify for co-funding for promotional events. The Ghim Moh Neighbourhood Centre, for example, will also benefit from the co-funding for upgrading of its common area.