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Yahoo
a day ago
- Business
- Yahoo
Priority for singles, higher quota for second-timer families to kick in from HDB's July BTO exercise
SINGAPORE – A slew of policy changes will kick in, starting with the upcoming HDB Build-To-Order (BTO) flat sales exercise in July, benefiting singles as well as families looking to upgrade or right-size their homes. Laying out the changes in a statement on July 20, the Housing Board said the one benefiting singles involves a previously announced new Family Care Scheme, meant to provide singles with priority access to BTO flats when they buy one near or with their parents. Prime Minister Lawrence Wong had announced the scheme in his first National Day Rally speech in 2024 as a means to bolster intergenerational support among families. Without the update, priority access would remain reserved only for married couples and their parents. HDB said on July 20 that first-time single buyers currently have up to 65 per cent of two-room flexi BTO flats and up to 5 per cent of Sale of Balance Flat (SBF) units set aside for them after such units are allocated to seniors. Within these quotas, up to 30 per cent of two-room flexi BTO flats and up to 2 per cent of balance flats will be set aside for first-timer singles applying under the new scheme. The remaining quotas will be for other first-timer singles, HDB said. HDB, meanwhile, specified there will be no change to the existing priority access for married couples and seniors. The new scheme has a second component that grants singles priority if they jointly apply for two units in the same BTO project with their parents. But this would kick in only from the October sales exercise, HDB said. The change pertaining to families is for those applying for a BTO unit for the second time. HDB said it will increase the allocation quota of three-room and larger flats for this group by 5 percentage points from the July exercise. This is to support these families' 'upgrading aspirations and right-sizing plans', it stated. With the change, up to 20 per cent of three-room Standard flats and up to 10 per cent of three-room Plus and Prime flats and four-room and larger flats would be set aside for second-timer families. First-timer families would, however, still have at least 80 per cent to 90 per cent of three-room and larger flats set aside for them, HDB noted. The July exercise would also see enhancements to the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant take effect, HDB said. The DIA scheme lets couples defer their income assessment until nearer the key collection date, so they can qualify for a bigger loan as their incomes are likely to be more stable and higher by then, without deferring their flat application. Under the enhanced DIA scheme, only one of the two parties needs to be a recent or current full-time student or national serviceman before a couple can apply for a new flat with its help. Previously, both parties needed to meet this requirement. The increase in the Fresh Start Housing Grant from $50,000 to $75,000 for second-timer public rental households with children was announced at the debate on the Ministry of National Development's budget earlier in 2025. HDB said this change, also to start from the July exercise, will help eligible second-timer families use the increased grant to buy a new two-room flexi or three-room standard BTO or balance flat on a shorter lease. About 5,500 BTO flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh and Woodlands will be launched in the July exercise, HDB said. Some 5,030 flats were launched in the last BTO exercise on Feb 10. More than 4,600 balance flats will also be up for picks in the concurrent SBF exercise to take place in July, it added. 'We will continue to refine our public housing policies to keep public housing affordable, accessible and inclusive for Singaporeans,' HDB said. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Straits Times
4 days ago
- Business
- Straits Times
Priority for singles, higher quota for second-timer families to kick in from HDB's July BTO exercise
Find out what's new on ST website and app. The July exercise will also see enhancements to the Deferred Income Assessment scheme and the Fresh Start Housing Grant take effect. SINGAPORE – A slew of policy changes will kick in, starting with the upcoming HDB's Build-To-Order (BTO) flat sales exercise in July, benefiting singles as well as families looking to upgrade or right-size their homes. Laying out the changes in a statement on July 20, the Housing Board said the one benefiting singles involves a previously announced new F amily C are S cheme , meant to also provide singles with priority access to BTO flats when they buy one near or with their parents. Prime Minister Lawrence Wong had announced the scheme in his first National Day Rally speech in 2024 as a means to bolster intergenerational support among families. Without the update, priority access would remain reserved only for married couples and their parents. HDB on July 20 said first-time single buyers currently have up to 65 per cent of two-room flexi BTO flats and up to 5 per cent of Sale of Balance Flats (SBFs) set aside for them after such flats are allocated to seniors. Within these quotas, up to 30 per cent of two-room flexi BTO flats and up to 2 per cent of SBFs will be set aside for first-timer singles applying under the new scheme. The remaining quotas will be for other first-timer singles, HDB said. Top stories Swipe. Select. Stay informed. Singapore 1 in 3 vapes here laced with etomidate; MOH working with MHA to list it as illegal drug: Ong Ye Kung Singapore HSA extends hotline hours, launches new platform to report vaping offences Singapore 2-in-1 airport police robot on trial can patrol and serve as PMD with ride-hailing feature Asia Tearful relatives await news of victims in Vietnam boat capsize Singapore ComfortDelDro to discipline driver who flung relative's wheelchair out of taxi Multimedia How to make the most out of small homes in Singapore Asia Over 380,000 people affected by autogate glitch at JB checkpoint over 2 days Singapore Minor Issues: Why I didn't send my daughters to my brand-name primary school HDB, meanwhile, specified that there will be no change to the existing priority access for married couples and seniors. The new scheme has a second component which grants singles priority if they jointly apply for two units in the same BTO project with their parents. But this would kick in only from the October sales exercise, HDB said. The change pertaining to families is for those applying for a BTO for the second time. HDB said it will increase the allocation quota of three-room and larger flats for this group by 5 percentage points from the July exercise . This is to support these families' 'upgrading aspirations and right-sizing plans', it stated. With the change, up to 20 per cent of three-room Standard flats and up to 10 per cent of three-room Plus and Prime flats and four-room and larger flats would be set aside for second-timer families. First-timer families would, however, still have at least 80 to 90 per cent of three-room and larger flats set aside for them, HDB noted. The July exercise would also see enhancements to the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant take effect, HDB said. The DIA scheme lets couples defer their income assessment until nearer the key collection date, so they can qualify for a bigger loan as their incomes are likely to be more stable and higher by then, without deferring their flat application. Under the enhanced DIA scheme, only one of the two parties needs to be a recent or current full-time student or national serviceman before a couple can apply for a new flat with its help. Previously, both parties needed to meet this requirement. The increase of the Fresh Start Housing Grant from $50,000 to $75,000 for second-timer public rental households with children was announced at the Ministry of National Development's Committee of Supply debate earlier this year. HDB said this change, also to kick in from the July exercise, will help eligible second-timer families use the increased grant to buy a new two-room flexi or three-room standard BTO, or SBF flat, on a shorter lease. About 5,500 BTO flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh and Woodlands will be launched in the July exercise, HDB said. Some 5,030 flats were launched in the last BTO exercise on Feb 10 . More than 4,600 SBF units will also be up for picks in the concurrent SBF exercise to take place in July, it added. 'We will continue to refine our public housing policies to keep public housing affordable, accessible and inclusive for Singaporeans,' HDB said.
AsiaOne
16-07-2025
- Business
- AsiaOne
Las Vegas Sands' new development part of Singapore's broader, more ambitious transformation: PM Wong, Singapore News
SINGAPORE - Singapore's skyline will get a soaring new addition come 2030 when Las Vegas Sands' US$8 billion (S$10.3 billion) new hotel tower is completed. Speaking at the development's ground-breaking ceremony on July 15, Prime Minister Lawrence Wong said the plans for Marina Bay are just one part of the Republic's broader, more ambitious transformation of its entire southern waterfront. A 30km stretch of coastline from Gardens by the Bay East to Pasir Panjang that is six times the size of Marina Bay, it will have more commercial, recreational and entertainment options, alongside new residential precincts that include public housing for Singaporeans, he added. The authorities said in May that the first of these homes – around 1,000 Housing Board Build-To-Order flats to be built on the site of the former Keppel Club – will be launched for sale in October. PM Wong said: 'That's what we mean when we say we are never done building Singapore. We will always keep on improving, keep renewing and keep on moving forward.' The Greater Southern Waterfront project was first announced by then Prime Minister Lee Hsien Loong at the 2013 National Day Rally, where he outlined a vision to consolidate container port activities in Tanjong Pagar, Keppel, Brani and Pasir Panjang at a unified port in Tuas, freeing up prime waterfront land for redevelopment. PM Wong was addressing about 200 guests gathered at the ground-breaking site next to Marina Bay Sands' (MBS') Hotel Tower 1. They included Las Vegas Sands co-founder Miriam Adelson, chairman and chief executive officer Robert Goldstein, and president and chief operating officer Patrick Dumont. The new Las Vegas Sands complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, 200,000 sq ft of meeting and convention space, and numerous high-end restaurants. It is set to be completed by 2030 and to open in the first quarter of 2031. Like MBS, it is designed by US-based firm Safdie Architects, and it will have a distinct roof in the form of an elliptical Skyloop, which will have 360-degree views, and both public and private facilities. PM Wong called Marina Bay a symbol of the Singapore Story – that of a thriving financial and business hub, a vibrant destination for meetings, conventions, tourism and entertainment, as well as a key node connecting Singapore to the global economy. But more than just an economic success story, it has become deeply embedded in the national consciousness, he added. Prime Minister Lawrence Wong speaking at the ground-breaking ceremony for the new Las Vegas Sands hotel tower on July 15. PHOTO: The Straits Times This is as the bay is where Singaporeans come together to celebrate milestones such as the National Day Parade and year-end countdowns, and to make memories. The skyline is also instantly recognisable around the world as being Singapore, whether in movies, documentaries or music videos, he said. 'Every recruit who does basic military training, their graduation parades are held here, reminding them of why they are defending Singapore and what they are defending,' he said. 'So we are very proud of what Marina Bay has become, but we're not done yet because we believe the best still lies ahead.' (From left) Populous senior principal Andrew Tulen, architect Moshe Safdie, Las Vegas Sands chief operating officer Patrick Dumont, Las Vegas Sands co-founder Miriam Adelson, Prime Minister Lawrence Wong, Minister for Sustainability and the Environment Grace Fu, Las Vegas Sands chairman and chief executive Robert Goldstein, Las Vegas Sands executive vice-president of Asia operations Grant Chum and Marina Bay Sands chief operating officer Paul Town at the ground-breaking ceremony on July 15. PHOTO: The Straits Times He noted that the Las Vegas Sands development will both refresh Singapore's skyline and introduce new attractions, including the rooftop Skyloop and the 15,000-seat arena for world-class concerts and performances. Added convention and exhibition space will also further strengthen Singapore's position as a leading Mice (meetings, incentives, conferences and exhibitions) destination globally, he added. Alongside the upcoming NS Square, which is set to be completed by 2027, PM Wong said these developments will add buzz and vibrancy to the bay area, which will draw more visitors and create new opportunities for Singaporeans in hospitality and tourism. An artist's impression of the Skyloop from an aerial view. PHOTO: Safdie Architects Singapore is able to keep renewing itself and moving forward because of strong partnerships, such as with Las Vegas Sands, said PM Wong. He noted its 'bold commitment' when the integrated resort was first mooted in 2005. The American casino and resort company committed to an initial investment of $3.85 billion, which is apart from another $1.2 billion in land cost for the site. 'It was... a major investment, underpinned by confidence in Singapore, and in Singapore's future,' he said. 'I'm glad this partnership has flourished, and I'm even happier that we are now taking it to the next level.' Mr Goldstein said that Marina Bay Sands has become the most successful integrated resort in history and the industry's gold standard since it opened in 2010. 'We have every intention of delivering a product that will be the envy of the hospitality industry and ushers in a new era of luxury tourism in Singapore,' the Las Vegas Sands chairman and CEO said of the new tower. This article was first published in The Straits Times . Permission required for reproduction.
Straits Times
15-07-2025
- Business
- Straits Times
Las Vegas Sands' new development part of S'pore's broader, more ambitious transformation: PM Wong
The new complex is set to be completed by 2030, and to open in the first quarter of 2031. SINGAPORE - Singapore's skyline will get a soaring new addition come 2030 when Las Vegas Sands' US$8 billion (S$10.3 billion) new hotel tower is completed. Speaking at the development's ground-breaking ceremony on July 15, Prime Minister Lawrence Wong said the plans for Marina Bay are just one part of the Republic's broader, more ambitious transformation of its entire southern waterfront. A 30km stretch of coastline from Gardens by the Bay East to Pasir Panjang that is six times the size of Marina Bay, it will have more commercial, recreational and entertainment options, alongside new residential precincts that include public housing for Singaporeans, he added. The authorities said in May that the first of these homes – around 1,000 Housing Board Build-To-Order flats to be built on the site of the former Keppel Club – will be launched for sale in October. PM Wong said: 'That's what we mean when we say we are never done building Singapore. We will always keep on improving, keep renewing and keep on moving forward.' The Greater Southern Waterfront project was first announced by then Prime Minister Lee Hsien Loong at the 2013 National Day Rally, where he outlined a vision to consolidate container port activities in Tanjong Pagar, Keppel, Brani and Pasir Panjang at a unified port in Tuas, freeing up prime waterfront land for redevelopment. PM Wong was addressing about 200 guests gathered at the ground-breaking site next to Marina Bay Sands' (MBS') Hotel Tower 1. They included Las Vegas Sands co-founder Miriam Adelson, chairman and chief executive officer Robert Goldstein, and president and chief operating officer Patrick Dumont. Top stories Swipe. Select. Stay informed. Singapore Economic headwinds do not dampen outlook for new Marina Bay development: Las Vegas Sands president Business MAS records net profit of $19.7 billion, fuelled by investment gains Singapore Man charged with attempted murder of woman at Kallang Wave Mall Singapore CDL's long-time director Philip Yeo to depart after boardroom feud Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Life The Violinist, Singapore's first animated historical film, set for August 2026 release Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years The new Las Vegas Sands complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, 200,000 sq ft of meeting and convention space, and numerous high-end restaurants. It is set to be completed by 2030 and to open in the first quarter of 2031. Like MBS, it is designed by US-based firm Safdie Architects, and it will have a distinct roof in the form of an elliptical Skyloop, which will have 360-degree views, and both public and private facilities. PM Wong called Marina Bay a symbol of the Singapore Story – that of a thriving financial and business hub, a vibrant destination for meetings, conventions, tourism and entertainment, as well as a key node connecting Singapore to the global economy. But more than just an economic success story, it has become deeply embedded in the national consciousness, he added. Prime Minister Lawrence Wong speaking at the ground-breaking ceremony for the new Las Vegas Sands hotel tower on July 15. ST PHOTO: AZMI ATHNI This is as the bay is where Singaporeans come together to celebrate milestones such as the National Day Parade and year-end countdowns, and to make memories. The skyline is also instantly recognisable around the world as being Singapore, whether in movies, documentaries or music videos, he said. 'Every recruit who does basic military training, their graduation parades are held here, reminding them of why they are defending Singapore and what they are defending,' he said. 'So we are very proud of what Marina Bay has become, but we're not done yet because we believe the best still lies ahead.' (From left) Populous senior principal Andrew Tulen, architect Moshe Safdie, Las Vegas Sands chief operating officer Patrick Dumont, Las Vegas Sands co-founder Miriam Adelson, Prime Minister Lawrence Wong, Minister for Sustainability and the Environment Grace Fu, Las Vegas Sands chairman and chief executive Robert Goldstein, Las Vegas Sands executive vice-president of Asia operations Grant Chum and Marina Bay Sands chief operating officer Paul Town at the ground-breaking ceremony on July 15. ST PHOTO: AZMI ATHNI He noted that the Las Vegas Sands development will both refresh Singapore's skyline and introduce new attractions, including the rooftop Skyloop and the 15,000-seat arena for world-class concerts and performances. Added convention and exhibition space will also further strengthen Singapore's position as a leading Mice (meetings, incentives, conferences and exhibitions) destination globally, he added. Alongside the upcoming NS Square, which is set to be completed by 2027, PM Wong said these developments will add buzz and vibrancy to the bay area, which will draw more visitors and create new opportunities for Singaporeans in hospitality and tourism. An artist's impression of the Skyloop from an aerial view. PHOTO: SAFDIE ARCHITECTS Singapore is able to keep renewing itself and moving forward because of strong partnerships, such as with Las Vegas Sands, said PM Wong. He noted its 'bold commitment' when the integrated resort was first mooted in 2005. The American casino and resort company committed to an initial investment of $3.85 billion, which is apart from another $1.2 billion in land cost for the site. 'It was... a major investment, underpinned by confidence in Singapore, and in Singapore's future,' he said. 'I'm glad this partnership has flourished, and I'm even happier that we are now taking it to the next level.' Mr Goldstein said that Marina Bay Sands has become the most successful integrated resort in history and the industry's gold standard since it opened in 2010. 'We have every intention of delivering a product that will be the envy of the hospitality industry and ushers in a new era of luxury tourism in Singapore,' the Las Vegas Sands chairman and CEO said of the new tower.
Straits Times
15-07-2025
- Business
- Straits Times
MBS' new development part of S'pore's broader, more ambitious transformation: PM Wong
The new MBS complex is set to be completed by 2030, and to open in the first quarter of 2031. SINGAPORE - Singapore's skyline will get a soaring new addition come 2030 when Marina Bay Sands' US$8 billion (S$10.3 billion) fourth hotel tower is complete. Speaking at the development's ground-breaking ceremony on July 15, Prime Minister Lawrence Wong said the plans for Marina Bay is just one part of the Republic's broader, more ambitious transformation of its entire southern waterfront. A 30km stretch of coastline from Gardens by the Bay East to Pasir Panjang that is six times the size of Marina Bay, it will have more commercial, recreational and entertainment options, alongside new residential precincts that include public housing for Singaporeans, he added. The authorities said in May that the first of these homes, around 1,000 Housing Board Build-To-Order (BTO) flats to be built on the site of the former Keppel Club, will be launched for sale in October. PM Wong said: 'That's what we mean when we say we are never done building Singapore. We will always keep on improving, keep renewing and keep on moving forward.' The Greater Southern Waterfront project was first announced by then-prime minister Lee Hsien Loong at the 2013 National Day Rally, where he outlined a vision to consolidate container port activities in Tanjong Pagar, Keppel, Brani and Pasir Panjang to a unified port in Tuas, freeing up prime waterfront land for redevelopment. Mr Wong was addressing about 200 guests gathered at the groundbreaking site next to MBS' Hotel Tower 1, who included Las Vegas Sands co-founder Miriam Adelson, chairman and chief executive officer Robert Goldstein, and president and chief operating officer Patrick Dumont. Top stories Swipe. Select. Stay informed. Business MAS records net profit of $19.7 billion, fuelled by investment gains Business Singapore financial sector growth doubles in 2024; assets managed cross $6 trillion in a first: MAS Singapore $3b money laundering case: MinLaw acts against 4 law firms and 1 lawyer over seized properties Singapore Man charged with attempted murder of woman at Kallang Wave Mall Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Singapore SJI International resumes overseas trips amid ongoing probe into student's death in Maldives in 2024 Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years The new MBS complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, 200,000 sq ft of meeting and convention space, and numerous high-end restaurants. It is set to be completed by 2030, and to open in the first quarter of 2031. The envisioned waterfront with Las Vegas Sands' new ultra-luxury development featuring a 55-storey hotel tower and podium with 15,000-seat arena situated adjacent to the existing Marina Bay Sands. PHOTO: SAFDIE ARCHITECTS Like MBS, it is designed by US-based firm Safdie Architects, and it will have a distinct roof in the form of an elliptical Skyloop which has 360-degree views, and both public and private facilities. Mr Wong called Marina Bay a symbol of the Singapore Story - that of a thriving financial and business hub, a vibrant destination for meetings, conventions, tourism and entertainment, as well as a key node connecting Singapore to the global economy. But more than just an economic success story, it has become deeply embedded in the national consciousness, he added. This is as the bay is where Singaporeans come together to celebrate milestones such as the National Day Parade and year-end countdowns, and to make memories. The skyline is also instantly recognisable around the world as being Singapore, said PM Wong, whether in movies, documentaries, or music videos. 'Every recruit that does basic military training, their graduation parades are held here, reminding them of why they are defending Singapore and what they are defending,' he said. 'So we are very proud of what Marina Bay has become, but we're not done yet because we believe the best still lies ahead.' He noted that MBS' expansion will both refresh Singapore's skyline and introduce new attractions, including the rooftop Skyloop and the 15,000-seat arena for world-class concerts and performances. Added convention and exhibition space also further strengthens Singapore's position as a leading Mice (meetings, incentives, conferences and exhibitions) destination globally, he added. Alongside the upcoming NS Square which is set to be completed by 2027, PM Wong said these developments will add buzz and vibrancy to the bay area, which will draw more visitors and create new opportunities for Singaporeans in hospitality and tourism. Singapore is able to keep renewing itself and moving forward because of strong partnerships, such as with Las Vegas Sands, said PM Wong. He noted its 'bold commitment' when the integrated resort was first mooted in 2005. The American casino and resort company committed to an initial investment of $3.85 billion, which is apart from another $1.2 billion in land cost for the site. An aerial view of the Lower and Upper Skyloop. PHOTO: SAFDIE ARCHITECTS 'It was...a major investment, underpinned by confidence in Singapore, and in Singapore's future,' he said. 'I'm glad this partnership has flourished, and I'm even happier that we are now taking it to the next level.' Mr Goldstein said that Marina Bay Sands has become the most successful integrated resort in history and the industry's gold standard since it opened in 2010. 'We have every intention of delivering a product that will be the envy of the hospitality industry and ushers in a new era of luxury tourism in Singapore,' the Las Vegas Sands chairman and CEO said of the new tower.
