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Published: Friday April 4, 2014 MYT 12:00:00 AM
Updated: Friday April 4, 2014 MYT 8:27:36 AM

2,800 HDB shops to gain from RM4.9mil funding

ABOUT 2,800 Housing Board shops will benefit from the sixth round of a scheme to make heartland shopping areas more vibrant.

The HDB has set aside S$1.9mil (RM4.9mil) for this round of the Revitalisation of Shops scheme, which will cover 29 areas.

This is in response to requests from local merchants’ associations, the HDB said in a statement.

The scheme will co-fund the upgrading of common areas with amenities such as shop directories, fund up to half the cost of promotional events held by the merchants’ associations, and give shops a rent-free period of up to one month if they are undergoing renovation under this scheme.

Shops in previous rounds of the scheme saw their sales improve by up to 30% during promotional events. At least 60 events are expected to be held in this round, in conjunction with the Great Singapore Sale, Christmas and New Year countdown celebrations and so on.

Merchants’ associations and shops can choose to apply for some or all of the various components of the scheme. In this round, 27 applied for co-funding for events, and the other two sites applied for co-funding of upgrading works.

About S$8.4mil (RM21.8mil) has been spent in the Revitalisation of Shops scheme since it began in November 2007. — The Straits Times / Asia News Network

Tags / Keywords: singapore

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