To help them stay competitive, Housing & Development Board (HDB) shops across Singapore have been allocated S$29 million (US$21 million) in revitalisation funding.
The largest batch of funding yet under the Revitalisation of Shops (ROS) scheme, it will help 1335 retail outlets, according to senior minister of state for national development Desmond Lee while visiting Geylang East Neighbourhood Centre, one of 17 new sites chosen to undergo a revamp.
Seven of the sites will also receive co-funding from the HDB so they can upgrade common areas and run promotional events.
Six sites will receive funding for common area upgrading only, and four will be funded solely for promotional events. All sites had applied for the scheme and indicated their funding preferences.
The ROS scheme was enhanced in May, with the upgrading budget for each shop raised from $20,000 to $35,000 and the shop owner’s share of the cost reduced from 50 to 20 per cent, capped at $5000.
New funds were also allocated so HDB shops can hire consultants to help them with upgrading, and form merchants’ associations if they do not already have one. So far, businesses in eight sites have applied to set up merchant associations.
