Friday, July 16, 2010

HDB extends Revitalisation of Shops Scheme

The Housing and Development Board is extending its Revitalisation of Shops (ROS) Scheme – introduced in 2007 – to even more heartland retailers.

Announcing the extension, Senior Minister of State for National Development, Grace Fu, said the extension of the scheme will involve 35 sites with an estimated budget of S$6 million.

Thirty-four sites with more than 3,000 shops have already benefited from S$17 million of funding under the two previous batches.

Speaking at a HDB retail seminar on Friday, Ms Fu said all the sites are progressing well in their revitalisation efforts.

Three sites – Teck Whye Shopping Centre, Serangoon North Neighbourhood Centre and Bedok Town Centre – have completed their upgrading works, and more than 100 events have been organised by the Merchant Associations.

She said shopkeepers reported a 10 to 20 per cent boost in sales, and greater vibrancy after the upgraded works and the promotional events.

Ms Fu said that beyond the ROS scheme, HDB will also help other shop tenants enhance their shops, by granting a half-month rent-free period for them to carry out renovation works within their shops during tenancy renewals and where rejuvenation plans, such as Town Council improvement works, have been announced.

She said the government will set aside S$2 million each year for this, benefiting more than 6,000 shop tenants.

HDB has also launched Where2Shop@HDB Mobile. Consumers can now access information on Where2Shop on their mobile devices.

Ms Fu said these new measures announced on Friday will help the HDB retailers to position themselves better for their business.

Source: Channel News Asia, 16 Jul 2010

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