SHOPHOUSES IN ANG MO KIO HOUSING ESTATE(Sale to existing tenants)

Mr Yeo Toon Chia asked the Minister for National Development whether the Housing and Development Board will consider selling the shophouses in Ang Mo Kio Housing Estate to the existing tenants and, if so, whether priority will be given to those who have been renting the premises for more than 6 years.

Mr S. Dhanabalan: Mr Speaker, Sir, there are about 16,300 tenanted shops in HDB estates. Not all of these can be sold. Some are affected by redevelopment. Others which were built before 1984 can only be sold after the Housing and Development Act is amended. Still others need to be upgraded to current building and environmental standards before they can be sold. HDB is taking action on all these aspects. For those that can be sold early, HDB is working out the terms and conditions for sale and expects to be able to announce them towards the end of 1991. In working out the terms, HDB will give special consideration to sitting tenants. As many tenanted shops are involved in the programme, the sale will have to be phased over a number of years.

Mr Yeo Toon Chia (Ang Mo Kio): Sir, will the Minister consider working out a loan scheme for the sitting tenants?

Mr Dhanabalan: Mr Speaker, Sir, we are unlikely to do it. As far as the financing is concerned, the terms are likely to be the same as what we offer for the sale of new shops, ie, the purchaser will have to arrange for his own financing from banks or other financial institutions.