HDB shops to get $35,000 budget boost through enhanced revitalisation scheme

Upgrading costs will be halved, too.

HDB shops are poised to enjoy a 75% boost to their upgrading budget, thanks to the enhanced Revitalisation of Shops (ROS) Scheme.

According to HDB’s news release, each shop will see an increase of $20,00 to $35,000 in their budget.

To encourage more shop owners to participate in the ROS scheme, owners’ share of the upgrading costs will be slashed from 50% to 20%, and capped at $5,000.

HDB and the town councils will co-fund the remaining 80% of the cost, or up to $30,000 per shop. For rental shops, HDB and the town councils will continue to cover the full upgrading cost.

To further bolster HDB shops’ revitalisation efforts, HDB will roll out a new funding of up to $10,000 for Merchant Associations (MAs) to appoint a consultant to help them in their ROS upgrades.

Moreover, to spur the formation of MAs, HDB will introduce a start-up fund of $10,000 to encourage HDB shops without an MA to form one.

In addition, HDB announced that it will support MAs in organising events to lure in shoppers. HDB will continue to co-fund up to 50% of the expenditure for promotional events, subject to a yearly cap of $500 per sold shop and $1,000 per rental shop.

Tenants will also continue to benefit from rent-free month during the their shops’ renovation in conjunction with the ROS scheme.

Tenants will also continue to enjoy up to one month of rent-free period, when they renovate their shops in conjunction with the ROS scheme.