Chee Hong Tat
Singapore
“The National Parks Board (NParks) resumed crow shooting operations in March 2026 across nine districts, including Yishun. These sites were prioritised based on several factors, including the volume and severity of public feedback on crow-related issues, as well as the technical feasibility of conducting shooting operations safely at each…”
“To drive sustainable construction and reduce reliance on conventional diesel generators, the Housing and Development Board (HDB) has required the use of battery energy storage systems (BESS) or synchronised generator set systems at Build-to-Order construction worksites for all building tenders called since February 2025.”
“The Housing and Development Board (HDB) tracks resident feedback on maintenance-related issues, including spalling concrete and structural cracks within HDB flats. Such issues are much less common in younger flats, compared to older flats above 30 years old.”
“The Building and Construction Authority (BCA) provides resources on its website to guide building owners and Management Corporations Strata Title (MCSTs) on lift modernisation.”
“Private retail developments sold through the Government Land Sales Programme are intended to complement the commercial offerings in public developments undertaken by agencies, such as the Housing and Development Board.”
“The National Parks Board (NParks) is reviewing both the Animals and Birds Act and the Code of Animal Welfare (COAW). The former will include pet sector businesses and the latter will include and start with pet groomers.”
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“I thank Mr Henry Kwek and Mr Xie Yao Quan for their suggestions, which we will consider carefully. I have said previously that the VERS package should be fair to existing flat owners and also sustainable for future generations. I have also shared that we aim to flesh out as much of the VERS policy framework as possible in this term of Government. When we are ready with our initial proposals, MND and HDB will engage Singaporeans to take in further views and feedback before we firm up the policy. In the meantime, residents in our older public estates can continue to benefit from existing upgrading programmes, like the Neighbourhood Renewal Programme and the Silver Upgrading Programme. Mr Liang Eng Hwa and Mr Cai Yinzhou asked about HIP and if we can share more details about how HIP II will meet residents’ changing needs as their estates age. Flat owners can look forward to a second round of upgrading works via HIP II when their flats reach the 60- to 70-year mark. HIP II will be more extensive than the current HIP, and will make use of new technologies, like microwave scanning, to ensure that our ageing estates are well maintained and liveable. We will share more about the scheme in due course. Mr Liang also asked for more funding support for Town Councils to cope with rising costs and the challenges posed by ageing infrastructure, such as water seepage. Mr Singh asked about expanding the facade repairs co-payment scheme, so that the Government and Town Councils co-fund repairs for water seepage from block facades. The Government provides funding support to assist Town Councils with their various areas of responsibility. Mr Liang spoke about some of these earlier.”
“With the New Flat Classification framework, the income ceiling is still necessary to ensure that highly subsidised BTO flats are prioritised for those who are earning below the income ceiling. This is because higher income earners can have access to other housing options. And as Mr Ang Wei Neng and Mr Cai Yinzhou noted, we are reviewing the income ceiling for BTO flats. As a higher income ceiling will result in more people applying, we will need to ensure that the supply is adequate before we make these changes. Sir, I do not have the data on the number of appeals for people who have exceeded the income thresholds on hand. So, I would like to invite Mr Singh to perhaps file a Parliamentary Question and we will provide him with the information. But, Sir, allow me to clarify that the number of appeals may not fully represent the potential increase in the demand for BTO flats if we were to remove the income ceiling entirely. So, this is something that I think we will need to study carefully. We need to understand what are the trade-offs, including that after you remove the income ceiling, there will be additional competition coming from those who have higher income, who have exceeded the income thresholds, for the buyers whose income fall below the income eligibility threshold. So, this is something that I think we need to study carefully. I understand where Mr Singh is coming from and there are some trade-offs and I think it is a move that we will have to look at the trade-offs carefully. Over the next few decades, we will progressively redevelop older HDB towns and estates through the VERS. Our plan is to start with a few sites in the first half of the next decade, before scaling up the programme from late-2030s.”
“Residents will be able to cycle or walk and enjoy nature at MacRitchie Reservoir just a short distance away. To the east, residents will be able to easily access the rest of Toa Payoh, including the upcoming Toa Payoh Integrated Development (Sports and Lifestyle Hub), which is expected to be completed by 2030, hopefully earlier. Residents can enjoy Toa Payoh Integrated Development's sport facilities as well as a rejuvenated Toa Payoh town park, library and polyclinic. A new mixed-use development with private residential units, retail and community uses will also be built at the Caldecott site. This will include a shopping centre, which will provide residents with more retail and dining options. It will be similar in scale as Woodleigh Mall in Bidadari. 1.15 pm Over the next decade, we will launch more than 10,000 additional homes across Toa Payoh West and Mount Pleasant. These will be mostly for public housing as well as some private condominiums, including the mixed-use development that I just mentioned. In Toa Payoh West, these homes will be integrated into the lush, hilly terrain, some with views of MacRitchie Reservoir. We will build more neighbourhood parks, so residents can enjoy urban living integrated with nature. We will also ensure sufficient amenities, such as schools, community spaces and transport options. Sir, MND will continue to develop and rejuvenate Toa Payoh and other older estates, as part of our efforts to provide a robust housing supply for Singaporeans. Mr Chairman, Mr Pritam Singh has suggested to remove the income ceiling for HDB BTO flats entirely and impose additional restrictions on the buyers who exceed the income threshold. Our current income ceiling covers around eight in 10 Singaporean households.”
“Toa Payoh was the first town to be comprehensively planned and built from scratch in the mid-1960s. The town has evolved over the years through efforts such as the Remaking Our Heartland programme, Neighbourhood Renewal Programme and the Silver Upgrading Programme. We have improved connectivity and invested in major infrastructure in the area, such as the Caldecott MRT station, which is an interchange for the Thomson-East Coast and Circle Lines. Over the past 10 years, we have added 4,500 new homes in Toa Payoh, which have brought in more younger families. To maintain Toa Payoh's unique character, we have kept iconic features like the dragon playground and the pedestrian mall at the town centre. This year, HDB will be launching another BTO parcel right next to Caldecott MRT station. The parcel will feature around 1,600 units, including public rental flats, 2-room Flexi and 4-room flats, and also, the first Community Care Apartments in Toa Payoh. The development will include a new neighbourhood park with spaces for residents to exercise, play, rest and enjoy therapeutic activities as well as commercial facilities such as a food court and fast-food restaurant, a supermarket, retail shops and a childcare centre. An Active Ageing Centre will be established to cater to our Community Care Apartment residents and other seniors from the community. As residents move in a few years later, other major developments in the vicinity will be completed. This includes the North-South Corridor underground works, which will allow us to progressively transform the surface streets and strengthen the connections between Toa Payoh West and its surrounding areas. To the west, wider footpaths across Thomson Road and Lornie Road will create safer and more pleasant crossings for pedestrians.”
“The development will include Singapore's tallest ever public housing project, rising above 60 storeys. Sir, 60 storeys is not the first of its kind as there are other taller residential buildings in Singapore and overseas cities. But 60 storeys will be more than 10 storeys taller than The Pinnacle@Duxton, which is our current tallest public housing project. This is part of our efforts to find ways to build more public housing by intensifying land usage and building taller where possible. A 60-storey block can provide 50% more flats compared to a 40-storey block, the height of most of our tallest HDB blocks today. Currently, most tall buildings are in the central region due to aviation height restriction requirements around our airports, such as those at Changi and Seletar. These requirements have been in place since the 1950s and were set by the International Civil Aviation Organization (ICAO). Over the last decade, Singapore worked with ICAO to change these requirements and taller buildings can now be built near airports. This change frees up more airspace for non-aviation purposes and presents opportunities for us to intensify development in different parts of Singapore. With these regulatory changes and our experience in Pearl's Hill, HDB will find more opportunities to build taller flats across Singapore. We will proceed carefully and sensitively, building taller only when conditions allow. We will also pay close attention to design and liveability. These efforts will contribute to increasing land productivity and support our plans to continue providing a robust supply of HDB flats to meet the housing needs of Singaporeans. Another area where we will develop a large number of new flats is Toa Payoh.”
“We also provide housing grants of up to $120,000 for eligible first-timer families, which further reduces the amount they need to pay for their flats. After more than 40 years, we will be building public housing at Pearl's Hill. The new public housing development will be located right next to Outram Park MRT station, at the foothills of Pearl's Hill City Park. It will comprise 2-room Flexi, 3-room and 4-room BTO flats as well as public rental flats. Drawing from the nearby Chinatown heritage, the design concept is inspired by "山水画", like a Chinese painting depicting mountains and flowing rivers. Our vision is for residents to live amidst the tranquillity of Pearl's Hill, while remaining connected to the dynamic energy of the city. At the base level of this new development, residents and the public can enjoy green communal spaces, akin to river plains. Moving up, a cascading water feature will serve to manage stormwater during heavy downpours. A green canopy of trees will provide shade, flowing seamlessly from the nearby park. These features will also benefit the wider Pearl's Hill neighbourhood by having seamless barrier-free access from the park to the MRT. The residential blocks will be built with varying heights like the mountain ridges in a painting. Within the blocks, sky gardens and terraces will offer views from different levels, allowing residents to experience the surrounding landscape from multiple vantage points. In line with our urban design guidelines, we will preserve a view corridor, a 40-metre-wide unobstructed line of sight between the new buildings. Air and light will be able to flow through, ensuring that the tall buildings do not overwhelm the landscape and allowing the public to enjoy views to and from Pearl's Hill City Park.”
“With the introduction of the new flat classification framework in 2024, first-timer singles can now buy BTO flats island-wide and not only in non-mature estates. Since then, singles have booked flats in towns like Clementi, Bedok, Ang Mo Kio and Kallang-Whampoa for the first time. Last year, we also extended priority access under the Family Care Scheme to singles when they apply for a new flat to live with or near their parents. The Government is looking at increasing the income ceiling for all buyers and lowering the eligibility age for singles to buy HDB flats. We are also reviewing our schemes to better meet the needs of other groups of singles, such as those who may wish to buy a bigger flat together with their family members. But to do more for our singles and also for other groups of flat buyers, HDB will need to build more flats to ensure supply is adequate to meet higher demand. Hence, a priority for the Ministry, which I have been emphasising since taking on the MND portfolio, is to build more homes and to build them faster. This year, HDB will launch around 19,600 BTO flats. Of these, more than 4,000 will be Shorter Waiting Time flats, with a waiting time of less than three years. We will also increase the 2-room Flexi supply by almost 50% from 2026 to 2028 to meet growing demand from seniors and singles. This includes pressing on with the efforts to inject new housing in older towns. Let me share two examples. The first is the Pearl's Hill neighbourhood in Outram, close to the central business district. With the additional subsidies for Plus and Prime flats under the new flat classification framework, we are able to offer different groups of buyers affordable public housing in very attractive locations.”
“Sir, over the past few years, we have focused on improving affordability and accessibility for Singaporeans looking to buy their first home. This remains a key priority for MND. We provided a strong supply of HDB flats and set aside more units for first-timer families. The median application rates for first-timer families applying for 3-room and bigger BTO flats fell from a high of almost seven times in 2020 to between 1.1 and 1.9 times in 2025. In the most recent BTO sales exercise last month, the median application rate for first-timer families was 0.9 times. This is good news, but the overall application rate for 3-room and bigger BTO flats was 2.6 times, if we include second-timer families. The application rates for singles and seniors for 2-room Flexi flats were also higher. These numbers reflect the continued strong demand for public housing and why we need to sustain a robust supply in the years ahead. We now have some capacity to meet additional housing needs of different groups of Singaporeans. Many Members, including Mr Henry Kwek, Mr Foo Cexiang and Ms Nadia Ahmad Samdin, have asked about this. We will support our seniors by offering different right-sizing and monetisation options and making our neighbourhoods more elderly-friendly. For lower-income households, we will continue to improve our public rental options. We are also reviewing our schemes to better meet the needs of families who need to move or switch to a bigger flat when they have more children. Senior Minister of State Sun and Senior Parliamentary Secretary Harun will share more. Members have also asked for updates on our plans to support another group of Singaporeans – our singles. We have made some moves to improve the housing options for singles in recent years.”
“Mr Chairman, I thank Members for their questions and suggestions. Over the past 60 years, we have worked hard to build Singapore together. We provided Singaporeans with affordable and accessible public housing and achieved one of the highest homeownership rates in the world. We developed a strong built environment sector, which can plan, construct and maintain large-scale projects efficiently in our dense urban setting. We have carefully balanced the needs of current and future generations through long-term planning, integrating different uses and maximising the overall value of our limited land. We need to build on these strong foundations and go further. At this year's COS, I would like to present three key priorities that MND will focus on for the next few years. First, we will continue to uphold our housing commitments and sustain a robust supply. We will build more and build faster to meet the evolving housing needs of Singaporeans. Senior Minister of State Sun and Senior Parliamentary Secretary Harun will elaborate on our efforts to enhance the liveability of HDB estates. Minister Indranee and Minister of State Tan will talk about our plans to enhance the liveability of private residential estates and our City in Nature. Second, we will continue transforming our built environment sector to achieve greater productivity, sustainability and resilience and create more good jobs for our people. Minister Indranee will speak about this. Third, Minister of State Tan will round up by sharing more about our longer-term plans for Singapore's development, balancing the different land use requirements and navigating trade-offs within the limited space we have.”
“As of December 2025, the Housing and Development Board (HDB) has installed solar panels on around 5,300 blocks, or about half of all HDB blocks, under the SolarNova programme and other prior efforts. HDB will continue to install solar panels for other HDB blocks subject to site suitability.”
“These questions have been addressed in the Ministry of National Development's reply to a similar question asked by Ms Valerie Lee on 25 February 2026. [Please refer to "Data on Appeals Outcomes of HDB Sellers Affected by Ethnic Integration Policy", Official Report, 25 February 2026, Vol 96, Issue 19, Written Answers to Questions section.]”
“The Housing and Development Board (HDB) is committed to a high quality of construction for all its flats and has consistently achieved an average score of 95 out of 100 over the past five years on the Construction Quality Assessment System. This quality score is either comparable to or exceeds the scores achieved by many private residential developments over the same period. HDB also provides new HDB flat owners with a one-year Defects Liability Period (DLP) as part of the standard handover process for all new flats, so that outstanding issues can be rectified by the BTO contractor. Over the last five years, an average of 65% of homeowners have provided feedback during the DLP. More than 95% of the reported cases involve minor defects, such as scratches, alignment or paintwork. Nearly all of these are rectified within 14 working days, often done at the same time as homeowners’ own renovation works, before they move into their flat. HDB will continue to work closely with construction partners to keep high standards of workmanship and quality and to explore ways to further improve the move-in experience for flat buyers.”
“The Member's question pertains to privately-owned Housing and Development Board (HDB) shops. For privately owned shops, different Government agencies may collect and publish related aggregated data, which allows for data transparency while balancing commercial sensitivities. For example, the Inland Revenue Authority of Singapore (IRAS) maintains records on lease and tenancy transactions that are submitted to IRAS for the payment of stamp duty, including those for privately-owned HDB shops. The rental data collected by IRAS are made available by geographical location and property type on the Urban Redevelopment Authority's Real Estate Information System. HDB announced in January 2026 that for HDB-owned coffeeshops, the Government will start collecting data on stall rents charged by rental coffee shop operators. HDB will assess how the stall rents data can be made publicly available, to enable stallholders to make better-informed decisions. In the same vein, HDB is looking to make available Temporary Occupation Licence (TOL) data for outdoor refreshment areas (ORA) to provide greater transparency on ORA TOL fees paid by HDB coffee shop operators.”
“The Housing and Development Board (HDB) offers 5-room and 3Gen flats with four bedrooms and three bathrooms to cater to the housing needs of larger and multi-generation families. Flat owners may also apply to combine two adjoining 3-room or smaller flats under the HDB Conversion Scheme. In addition, the Third Child Priority Scheme provides priority allocation to eligible families with three or more children for up to 5% of flats offered in Build-To-Order and Sale of Balance Flats exercises. The Ministry of National Development will continue to review our housing policies to meet the needs of different groups of Singaporeans, including households with more family members.”
“For rental transactions facilitated by property agents, the Council for Estate Agencies' (CEA's) regulatory guidelines require property agents to be sensitive to the multi-cultural nature of Singapore's society. Property agents should refrain from placing advertisements that discriminate against any nationality, race, religion or group. Property agents who are found to have breached these guidelines will be subject to enforcement action by CEA. Members of the public can lodge a complaint with CEA if they come across any potentially discriminatory advertisements by property agents.”
“All Housing and Development Board car parks are designed in accordance with prevailing building codes and design standards, based on passenger vehicles with unladen weight not exceeding 2,000 kilogrammes. Based on current weight trends, existing car parks are still within safety margins. The agencies are reviewing how the structure of our car parks can be enhanced to accommodate potentially heavier vehicles in future. More information will be announced when ready.”
“The Housing and Development Board (HDB) provides up to two housing loans to eligible households. On a case-by-case basis, HDB exercises flexibility to provide another HDB housing loan for households who have exhausted their financing options and are in urgent need of housing. As at end December 2025, there are about 11,000 households who are servicing their third or subsequent HDB housing loan. Between 2023 and 2025, about 1,000 households per year approached HDB for a third or subsequent housing loan. HDB does not consider the previous loan tenures in its assessment, as these do not affect the household's current credit standing and whether they are able to afford the monthly mortgage payments.”
“The National Parks Board (NParks) adopts a science- and community-based approach for the management of otters. To manage human-otter conflict and ensure public safety, NParks works closely with community partners, like the Otter Working Group (OWG), which includes academic experts, members of the nature community and other Government agencies. We have jointly developed measures to trap and relocate otters away from areas with heightened potential for human-otter conflict and used olfactory deterrents to guide otters away from residential areas. NParks is also studying sterilisation as a possible long-term population control measure.”
“MAS will study Miss Ong's suggestion to collect and monitor relevant data from the insurers. Sir, persons with disabilities with concerns about the outcome of their insurance application can appeal through their insurer's feedback channel. Insurers need to maintain robust processes for handling customer complaints independently and effectively. But I recognise the point that Miss Ong mentioned earlier, that from the applicant's point of view, this may not be adequate. So, should customers remain dissatisfied with the outcome of the review, they can write to MAS and we will investigate. Where there are lapses, MAS will take the appropriate supervisory actions against the insurer.”
“Mr Chairman, I see our public officers as valued partners in our efforts to build a world-class Public Service for Singapore – one which is responsive and open to taking calculated risks while being anchored on integrity, service and excellence. Let me now turn to Miss Rachel Ong's cut. Miss Ong asked about insurance accessibility for persons with disabilities. She has been championing this and advocating for this consistently. MAS expects insurers to make objective assessments of insurance applications based on reliable information or data relevant to the risks, in line with MAS' Guidelines on Fair Dealing. We have reminded insurers that they should give due care to assessing applications from persons with disabilities and to base their decisions on coverage, pricing or exclusions on objective information and data pertaining to risk. Insurers should also clearly communicate and explain their decisions to the applicants. The circumstances of each case has to be looked into to ascertain if the insurer has followed a data and risk-based process to assess the application. The key is to ensure that the insurer had followed the proper process in conducting its assessment before deciding whether to approve or turn down an application. In the past three years, MAS received one complaint relating to insurance coverage for persons with disabilities, compared to a total of eight complaints in 2021 and 2022. This is a positive development. MAS has carefully reviewed all the nine cases and we have not found unfair underwriting practices to date for the nine cases. In some instances, the insurers could have better communicated the rationale of their underwriting decisions and they have since followed up with the applicants to explain their position.”
“And the early market reception has been positive, and we should allow time for these different measures to work. Mr Chairman, this morning, Mr Kenneth Tiong spoke about the need to take calculated risks so that we can make bold moves and do so with greater speed. I share these objectives and that is in line with the approach that we took for the equities market review together with our industry partners. And I shall do the same for the growth capital work group. Sir, if we want Singapore as a country and society to take more risks, and for our people to be willing to take calculated risks to try new ideas, this must be a collective effort by all of us as Singaporeans, including Members of this House. Importantly, how do we react and respond when we take risks and we try something new and some of the initiatives fail and when something goes wrong? Do we take the approach of learning from the experience and then picking ourselves up and try again? Or do we come down on the people involved like a tonne of bricks and look for somebody to blame? 6.30 pm I think how we respond makes a difference to whether we can set up this culture of risk taking in our society. My experience as a Minister at the Ministry of Transport and MOF previously, and now MND and MAS, is that many of our public officers, including our younger colleagues, are supportive of taking risks and trying new ideas. They are also very open to working with industry partners and with fellow Singaporeans on this endeavour. Many of the positive policy moves and also the pro-enterprise rules and reviewed changes could not have been done without the ideas and the hard work of our public officers.”
“Most merchants, based on our observations, including supermarkets and heartland businesses, continue to accept cash because there is demand from their customers to pay in cash. They do not want to lose customers by refusing to accept cash. Our policy position is clear: cash should remain an accessible payment option for consumers in Singapore, even as digital payments gain popularity and acceptance. MAS is monitoring the trends and developments in this area and will carefully assess if and when intervention is needed. This includes the possibility of making cash acceptance mandatory by law. At the same time, we have to carefully consider the impact on small businesses, as a mandatory requirement may impose additional handling costs for them. Mr Chairman, Mr Chua also asked about the EQDP. The EQDP aims to develop the local fund management capabilities and it is designed to broaden investor participation and catalyse third party capital flows into Singapore-listed equities. It is one component of a broader suite of measures, including having a pro-enterprise regulatory stance, enhanced investor recourse, a Value Unlock programme and the upcoming Singapore Exchange (SGX)-Nasdaq Global Listing Board. We want to see sustainable outcomes. The current EQDP top-up reinforces the positive momentum and it enables us to support more strategies that invest in Singapore equities including in the small and mid caps. But, Sir, we should not rely solely on Government measures or EQDP top-ups. Growing the equities market is a multi-year effort that requires discipline, sensible innovation and also all market participants to play their part. We think of EQDP as a catalyst to get the momentum of the flywheel going.”
“Mr Chairman, I will start by addressing Mr Louis Chua’s cuts on maintaining cash acceptance and accessibility. My response will also address a similar Parliamentary Question raised by Mr Abdul Muhaimin for the Sitting on 3 March. Sir, while digital payments bring efficiency and are more widely adopted, they do not fully replace cash. Our goal is to build a "cash-lite" society, not a cashless society. Due to increasing adoption of digital payments, ATM withdrawals have declined by more than 30% from 2015 to 2024. ATMs with consistently low utilisation have gradually been removed, so banks could prioritise their ATMs for areas with higher utilisation. To meet the needs of consumers, including the elderly and those who are less mobile, MAS also works with banks to ensure sufficient cash withdrawal points in the community. ATM locations include the vicinity of major town centres, transport hubs and key amenities such as supermarkets. Banks will consider proximity to residential estates when siting their ATMs. New ATMs have been installed in areas with growing demand, for instance, at community nodes in new towns. Earlier, Mr Chua mentioned about the ATM that he has asked for on behalf of his residents. This is, I believe, the one at Rivervale Shores. And on 13 February, DBS submitted an application and I am pleased to inform Mr Chua that HDB has given the go-ahead for DBS to proceed to set up this ATM. Sir, consumers can also withdraw cash when they shop at certain retail stores such as 7-Eleven, Giant and Sheng Siong. A small number of merchants, such as some food and beverage outlets that target younger customers, may decide to accept only digital payments. This is a commercial decision by the business owner.”
“Gek Poh Shopping Centre is currently closed for upgrading works, which are expected to complete in third quarter of 2028. To ensure that residents continue to have access to amenities during this period, the Housing and Development Board (HDB) has provided a free daily shuttle bus service to ferry residents between Gek Poh Shopping Centre and the nearby Hong Kah Point Neighbourhood Centre. This is not a new practice. HDB had previously provided such temporary shuttle services during similar upgrading projects for the convenience of residents. The context is different from the Marine Parade shuttle bus service. The Gek Poh shuttle bus service cost around $14,000 per month and is part of the lump sum tender for the upgrading of Gek Poh Shopping Centre. The shuttle bus is usually quite well-utilised during weekday mornings and around noon time on weekends.”
“The number of applications lodged with the Strata Titles Boards has remained stable over the past five years at an average of 120 cases annually. Feedback on disputes amongst Management Corporation Strata Title entities, subsidiary proprietors and managing agents lodged with the Commissioner of Buildings has declined, from over 3,000 cases in 2021, to less than 900 in 2025. The Government is reviewing the Building (Strata Management) Act to improve financial oversight, strengthen self-governance and enhance dispute resolution processes for strata developments. More details will be shared when ready.”
“The Ethnic Integration Policy (EIP) is important for Singapore's racial harmony and cohesion in a multicultural society. The Housing and Development Board (HDB) provides a range of assistance measures for flat owners who face genuine difficulties selling their flats when EIP quotas have been reached. These include giving such owners more time to sell their existing flat if they have purchased another one, or in exceptional circumstances, waiving the EIP limits to allow them to sell their flat to buyers of any ethnic group. As a last resort, HDB may also buy back flats from eligible EIP-constrained flat owners if they have tried their best to sell their flat, but are unable to do so. In 2025, HDB received 657 EIP-related appeals from flat owners. HDB acceded to 208 appeals, including helping five households via the buyback measure. The breakdown by ethnic group is in the table below. As of 31 December 2025, HDB owns about 100 units that were bought back via the EIP buyback assistance measure or compulsorily acquired by HDB for other reasons. These units will be offered for sale progressively under the Sale of Balance Flats exercise and open booking of flats.”
“The strata-subdivided commercial property market in the Central Area has remained stable since the implementation of strata-subdivision restrictions in 2022. Median prices increased modestly at an average of 0.4% per year between 2022 and 2025, compared to a decrease of an average of 0.8% per year in the pre-COVID-19 period between 2016 and 2019. There was an average of 325 transactions per year between 2022 and 2025, compared to an average of 290 transactions per year between 2016 and 2019. The subdivision restrictions apply only to specific commercial developments in prominent areas and key routes in the Central Area, such as Orchard Road and Shenton Way, and those under the Central Business District Incentive and Strategic Development Incentive Schemes. Businesses, including small and medium-sized enterprises, continue to have access to a wide range of commercial spaces at different price points across the Central Area.”
“The growth of e-commerce in recent years has led to an increase in the volume of online purchases and deliveries. To improve efficiency of last-mile deliveries in residential estates and alleviate congestion at the main hubs of courier companies, the Urban Redevelopment Authority and the Housing and Development Board (HDB) launched the Courier Hub Scheme in September 2024, where courier companies can apply to use car park lots for sorting and dispatch of parcels to walkers. HDB has expanded the scheme to offer more options to courier companies. HDB currently offers 89 multi-storey car parks under the scheme, up from 50 at its launch. As of 16 February 2026, HDB has received 30 applications from courier companies. Courier companies using the scheme have reported efficiency gains which have enabled residents to receive their parcels faster, with fewer trips required by delivery vehicles. However, there are constraints on how many car parks HDB can offer under the scheme. We have to prioritise residents' parking needs and consider the impact on surrounding residential blocks such as noise. We will monitor and review the scheme, alongside other solutions for last-mile delivery and parcel sorting.”
“As part of the Housing and Development Board's (HDB's) efforts to improve the parking experience for residents and motorists, HDB is trialling a barrier-free parking system at eight car parks. One benefit for users is that the system would send pre-enforcement alerts to motorists who have parked in unauthorised lots to inform them to shift their vehicles before a notice of parking offence is issued. With these pre-enforcement alerts, illegal parking cases have decreased by close to 60%. HDB will continue to refine the system and study other technologies to enhance motorists' parking experience at HDB car parks.”
“The Housing and Development Board (HDB) currently has close to 900 unselected flats from Sale of Balance Flats (SBF) exercises. These are located islandwide, comprising around 80 2-room Flexi flats, with the rest being 3-room and larger flats. HDB conducted three SBF exercises across 2024 and 2025, so it is not meaningful to track the quarter-on-quarter changes in stock of unselected SBF flats. The take-up rate for flats offered in SBF exercises has remained relatively stable at around 90% over this period. Unselected SBF flats are then re-offered in a subsequent sales exercise.”
“To support students, the Government provides a range of spaces for study, including common areas in schools, community clubs/centres, residents' networks centres and public libraries. We do not have available data on the utilisation of public study spaces. Lower-income households who require financial assistance may approach their Social Service Office or charities operating in the community.”
“The East Coast Central Green Corridor that connects East Coast Park and Changi Beach is in the planning and design stage. The completion timeline will be announced when ready.”
“The Lease Buyback Scheme (LBS) enables eligible senior homeowners to monetise their flats by selling a portion of the remaining lease to the Housing and Development Board (HDB), while they continue to age-in-place. As of end-2025, around 16,000 households have participated in LBS since the scheme was launched on 1 March 2009. Of these, around 6,000 are single-person households and around 7,000 are two-person households. Under LBS, homeowners must retain a lease that can last the youngest owner till at least age 95, providing a home for life. The years of lease retained varies based on the homeowners' ages at the point of LBS and also their individual circumstances. The LBS payouts also vary widely across flat types and vary over time based on prevailing market conditions. It is therefore not meaningful to look at the overall average payout. About nine in 10 households that participated in LBS received between $100,000 and $300,000 in proceeds. Seniors who top up their Central Provident Fund (CPF) Retirement Account (RA) with the proceeds may also receive a cash bonus ranging from $7,500 to $30,000, depending on their flat type and CPF RA top-up amount.”
“Following the completion of Hougang Rivercourt, the Housing and Development Board installed a temporary metal staircase at Block 377B to connect residents from Hougang Rivercourt to the bus stop along Tampines Road. This metal staircase is currently in use. Construction of a permanent staircase will commence by end-March 2026 and is targeted for completion by end-July 2026.”
“Under the Budget Meal scheme, the Housing and Development Board (HDB) eating house operators are required to pass on the 5% rental discount provided by HDB in full to their stallholders who provide budget meals. Operators must submit letters of undertaking jointly signed with their stallholders and declare how the discount is being shared among the stallholders. To date, HDB has not received any feedback from stallholders about operators failing to pass on the rental discount.”
“As of end-2025, around 5,300 or 10% of rental households have primary school-aged children – 46% of these households have children in Primary 1 to 2, 45% in Primary 3 to 4, and 42% in Primary 5 to 6. The figures overlap as some households have children spanning different age groups. For these households, the median number of occupants for those in 1-room flats and 2-room flats are two and four respectively. The Government has stepped up on initiatives like ComLink+, to provide targeted support to lower-income families, including their school-going children, and to help the families to improve their income over time so they are able to buy their own flats.”
“The National Parks Board (NParks) adopts a science- and community-based approach to manage monkey encounters in Singapore. NParks monitors human-monkey conflicts and assesses various factors, such as the risk to public safety and monkeys' population ecology and behaviour, to identify hotspots and inform its measures. To manage human-monkey conflicts, NParks works closely with residents, town councils and nature groups, such as the Long-tailed Macaque Working Group, to minimise human sources of food, enforce against feeding of wildlife, which is illegal, and put in place measures to guard monkeys away from residential areas. In areas with higher reported human-monkey conflict, NParks would sterilise the monkeys as a long-term population control measure and remove monkeys that display aggressive behaviours to ensure public safety.”
“There have been over 40,000 visitors to Big Sister's Island since the opening of the enhanced Sisters' Islands Marine Park in October 2024. Most visitors arrive via public ferry. To improve connectivity and promote visitorship, a new daily boat service from Sentosa to Big Sister's Island was added in December 2025, on top of the existing daily ferry service from Marina South Pier. We have also enhanced accessibility within Big Sister's Island with a barrier-free access route, a floating boardwalk and wheelchair-friendly shelters. The National Parks Board (NParks) also partners the Friends of Marine Park to organise guided nature walks and citizen science activities.”
“The Lease Buyback Scheme (LBS) enables eligible senior homeowners to monetise their flats by selling a portion of the remaining lease to the Housing and Development Board, while they continue to age-in-place. As of end-2025, around 16,000 households have participated in LBS since the scheme was launched on 1 March 2009. Under LBS, homeowners must retain a lease that can last the youngest owner till at least age 95, providing a home for life. The years of lease retained varies based on the homeowners' ages at the point of LBS and also their individual circumstances and generally fell within the range of 15 to 35 years.”
“The Housing and Development Board (HDB) regularly reviews the planning and provision of commercial facilities to ensure a suitable mix of shops and services that meet the needs of residents. For upcoming projects in Toa Payoh East, Caldecott and Mount Pleasant, HDB evaluates the need for new retail developments based on demographic profile as well as existing retail provision in the region. Details will be announced when ready.”
“The Family Care Scheme (FCS) (Joint Balloting) allows parents and their children, married or single, to jointly apply for two units in the same Build-To-Order project. This scheme replaced the previous Multi-Generation Priority Scheme (MGPS) from the October 2025 sales exercise. Under MGPS, successful parent-child pairs received a single queue number and could only book from a list of pre-identified units, which sometimes may not match their preferences. The current FCS (Joint Balloting) provides applicants with greater choice. Successful parent-child pairs will each receive a distinct queue number and can select from all available units during their respective booking appointments. On a case-by-case basis, the Housing and Development Board is prepared to exercise flexibility for applicants who face limited choices towards the end of the flat booking exercise.”
“The shophouses along Geylang Road are zoned Commercial and Hotel in the Master Plan, where shop uses, such as hair salons and Traditional Chinese Medicine (TCM) clinics, are permitted. Geylang is designated as an exclusion area where new public entertainment uses, such as pubs, bars, nightclubs, karaoke lounges and massage establishments, that require SPF licences are not permitted. This is to mitigate disturbances and safeguard the amenity of surrounding developments caused by these public entertainment uses.”
“And in the end, benefit our economy, benefit our companies but most importantly, benefit our people. Sir, my MAS colleagues and I will continue working closely with our industry partners to expand and grow our financial sector, deepen our capabilities, develop our talent base and strengthen our connections with other markets. Together we will drive innovation, sustain our competitiveness and create more good jobs for Singaporeans in the years ahead. [Applause.] 5.29 pm [(proc text) Question put, and agreed to. (proc text)] [(proc text) Resolved, "That Parliament do now adjourn." (proc text)] Adjourned accordingly at 5.29 pm.”
“Because, as I said, that is also something that we hope to do. Our objectives do not differ. And we thank him for his suggestions. Certainly, I will take on board what he has mentioned in his speech to see whether those are ideas that we can also implement to strengthen our position here as a gold trading hub. Sir, let me conclude my speech. Singapore's financial sector has made much progress over the years as a trusted global hub and international financial centre. But we are certainly not resting on our laurels, and we are not done building and growing our financial services industry. We believe that there is still a lot more we can do and the way that we want to move forward is to work very closely with our industry, because I believe that is also one of our strengths. The barriers between the Government and the industry here in Singapore, we do not have very tall and rigid barriers. We work very closely with our industry partners. We share ideas, we explore new possibilities, we test out what are some of the ideas that we can implement that will benefit the industry. And this is how we have done the review for the equities market, including what the Prime Minister just mentioned in the Budget speech, about the equities market development programme. The approach that we intend to take, whether for the gold market or for the other segments of the financial centre, would be the same – work closely with the industry, listen to feedback, be open to new ideas and then take calculated risks and be willing to move, be willing to make bold decisions. Some of the things that we try may not succeed, but we must try. And for those that we try and succeed, it may allow us to take off.”
“These initiatives enable financial institutions to harness technology to stay competitive in a rapidly changing industry. Let me talk about talent development, which is very critical. People are at the heart of everything we do, and the financial sector is a key provider of good jobs for Singaporeans. MAS has launched schemes to build workforce competencies, and to develop specialist talents and leaders in finance. For example, in partnership with the industry, we have trained over 8,000 finance professionals in sustainable finance, covering priority roles, such as credit risk analysts and corporate banking relationship managers. We are also uplifting and upskilling our workforce to make good use of AI, helping our institutions to harness technology to augment jobs and enabling our workers to be more productive so that they can do higher value-added work. Fourth, co-creating solutions with industry partners. We adopt a collaborative approach which ensures that policies and development initiatives are aligned with market realities and can play to our strengths. And one of Singapore's strengths, which investors look to, is that we are a trusted place, stable and they can make long-term plans. So, I think, in what we do, we have got to bear that in mind. Do not erode our strengths. Because that is what differentiates us from other financial centres. Sir, I would like to also add that when we do our plans to develop the financial sector, we study global best practices and we do pick up useful ideas that have been implemented elsewhere. And we are mindful that different financial centres have different context, key propositions and key customer segments. But I do welcome the suggestions that Mr Tiong mentioned earlier about the gold market.”
“A second example is our FinTech Regulatory Sandbox, which enables firms to experiment with innovative products and business models in a controlled regulatory environment, within time-bound relaxations and subject to appropriate safeguards. This encourages experimentation while containing risk, helping firms to innovate by taking calculated risks and also pushing the boundaries. And third, talent. Our competitive edge lies in developing a strong core of local talent as well as attracting complementary professionals from abroad. This combination allows us to build an internationally competitive and innovative financial ecosystem. Sir, MAS does not only carry out regulatory functions. We have been driving the development of Singapore's financial sector for many years. First, deepening our strengths in key asset classes. Beyond our role as a leading regional banking and insurance hub, Singapore has grown to become a major pan-Asian asset management centre with more than 1,200 licensed fund management companies managing over $6 trillion in assets. We are working with the industry to expand these capabilities, including in private equity and private credit, to better serve the growth capital needs across Asia. Singapore is also the third largest foreign exchange centre in the world, with over US$1.4 trillion traded here every day. Next, strengthening horizontal enablers, such as the use of technology. Through various grants, MAS has supported the establishment of over 15 innovation labs by our financial institutions and major technology players. And this has funded more than 50 projects and proof-of-concepts, including in artificial intelligence (AI), quantum technology and cross-border payment linkages with regional partners.”
“This has led to financing opportunities for financial institutions and investment opportunities for both global investors who are seeking access to Asian markets and also Asian investors who are looking to diversify their portfolios globally. Second, a sound and progressive regulatory regime, which safeguards financial stability and ensures that financial institutions in Singapore adhere to high prudential and regulatory standards and practices. Sir, Mr Tiong mentioned about Dubai and the approach that Dubai has taken. I think we recognise the different financial centres will have different market niches that they want to target, different strengths that they play to. And Singapore's strengths and Dubai's strengths may not be exactly the same, the markets that we target may not be exactly the same. But I think the international financial markets, the scale is large enough for there to be more than one international financial sector. So, Dubai can be a strong, good financial centre and so can we. And we can serve different roles, serve different customers and we both grow together. It is not a zero sum. It is not a zero sum. Sir, as the global financial landscape evolves, the important point is that our policies will have to adapt to stay fit for purpose. MAS has been working closely with the industry on this so that we know what the opportunities are and therefore, what are some of the policies that we will have to look at. For example, we granted banking licences to four digital banks, which have added diversity and competition to our banking system and provided consumers and also underserved segments of population with greater product offerings.”
“Mr Speaker, Sir, I thank Mr Kenneth Tiong for his interest in the development of Singapore's financial centre and the potential for us to be a gold trading hub. There is no disagreement with what he has laid out in terms of our ambition. Indeed, that is also something that my colleagues and I in MAS have been looking at, to see what are the opportunities that we can capture, not just in the gold market, but across different parts of the financial centre, which as he mentioned, is multi-faceted, multi-dimensional. Sir, the evolution of Singapore's financial sector, is not something that has only happened recently. It had started some decades ago and what we have achieved today is the result of sound policy choices, discipline, governance and a long-term view of how finance can serve our economy, our companies and our people. It is not because of luck. It is because of many years of hard work, together with the industry, that we have put in place these pillars of strength. Sir, our financial sector contributes around 14% of gross domestic product in 2025. Between 2021 and 2025, it grew at an average of 4.6% annually, with positive spillovers to other sectors, including professional services and infocomm technology (ICT). Today, the financial sector employs almost 200,000 people, more than 80% are locals. Over the past decade, the Singapore financial sector workforce grew by more than 40,000 – and about 90% of the net jobs created went to locals. Several factors have underpinned this positive outcome, which has benefited Singapore and many Singaporeans. First, Asia's continued growth and sustained development over the years have created strong demand for capital and international companies which are keen to tap into the region's growth opportunities.”
“The Housing and Development Board assesses all appeals for a waiver of the Minimum Occupation Period on a case-by-case basis, considering the specific circumstances of the flat owners and their families. When neighbours are involved in a dispute, our priority is to bring them together to find a mutually acceptable solution. Most neighbour noise disputes are resolved this way. Many of the remaining disputes are resolved after mediation at the Community Mediation Centre. As a last resort, residents can consider seeking recourse from the Community Disputes Resolution Tribunals.”
“We had completed the review in May 2024 and replied to a similar Parliamentary Question in October 2024. [Please refer to "Implementing Distinct Quantitative Noise Thresholds for Evening Period in Residential Areas", Official Report, 16 October 2024, Vol 95, Issue 144, Written Answers to Questions section.] The Member may also refer to the Municipal Services Office’s website, as well as the Second Reading of the Community Disputes Resolution (Amendment) Bill in 2024, for more details. The National Environment Agency’s industrial noise standards are set for a different purpose, and do not apply to neighbour noise disputes.”