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HDB incurred a deficit of S$392 million for upgrading programmes performed in numerous HDB estates round Singapore.
A deficit of S$352 million was additionally recorded for residential works, for a complete of S$744 million.
In its annual report on Monetary 12 months (FY) 2021, HDB stated that it had incurred its largest ever web deficit of S$4.367 billion, earlier than authorities grants.
That is the very best ever deficit recorded in Singapore’s public housing historical past, within the interval starting on April 1, 2021 and ending on March 31, 2022.
Extra upgrading works carried out in 2021
A deficit of S$392 million was incurred for upgrading programmes, such because the House Enchancment Programme (HIP) and Elevate Upgrading Programme (LUP).
This was a rise of greater than 60 per cent, in contrast with the S$242 million deficit incurred in FY2020.
In response to HDB, this improve in deficit is because of increased expenditure on the HIP, as building works picked up final 12 months with the easing of pandemic measures.
Beneath the HIP scheme, an estimated 53,792 flats have been upgraded in FY 2021, to handle “widespread upkeep points” associated to ageing flats.
Cash for residential ancillary features
A deficit of S$352 million was additionally incurred for “residential residential ancillary” features in FY2021, together with the availability and administration of services similar to automotive parks in housing estates, and planning and constructing administration.
The rise in spending was primarily as a result of works similar to automotive park enchancment and the reconstruction of drains, in addition to repairing {of electrical} works.
That is increased than the deficit of S$307 million incurred in FY2020.
Rental and pandemic assist
Individually, HDB additionally incurred a deficit of S$121 million below the assorted rental housing schemes.
S$3.6 million was additionally written off for rental arrears confirmed irrecoverable in FY2021.
To assist tide via the Covid-19 pandemic, HDB stated that assist for house house owners, such because the suspension of late fee prices, was offered. This amounted to about S$15 million.
As well as, waiving of rental prices was carried out for about 8,500 qualifying tenants in HDB outlets and social-communal services, which amounted to S$115 million.
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High picture by way of HDB Fb
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