PROGRESS OF JTC'S PROGRAMME TO LEASE HDB FLATS

Dr Wang Kai Yuen asked the Minister for Trade and Industry what is the progress of the Jurong Town Corporation's programme to lease Housing and Development Board flats to foreign professionals in Singapore.

Mr Lee Yock Suan: Jurong Town Corporation (JTC) launched the Scheme for Housing of Foreign Talents (SHIFT) on 27th August 1997. The objective of the scheme is to ensure the availability of affordable housing in our current effort to attract foreign talent to Singapore. Under this scheme, JTC purchases flats from the resale market and HDB at market prices and rents them out to foreigners on a commercial basis.

JTC is processing about 1000 applications and has allocated about 60 flats so far. The process will be speeded up as JTC gains experience with this new scheme. JTC is giving priority to newcomers, especially joint applicants and those with families.