Budget 2017 Speech by Minister Lawrence Wong: Building our Future City and Home Together
Mar 7, 2017
Mdm Chair, I thank members for their keen interest and suggestions on MND matters. With your permission, I would like to show some slides on the LED screens.
Our Singapore Housing Dream
I’d like to start by sharing the story of Mr and Mrs Sin. Mr Sin is from the Pioneer Generation and his wife is 66 years old this year. They used to live in cramped conditions in a rented room in a Chinatown shophouse. When HDB started the Homeownership for the People Scheme in 1964, they were among the first to sign up for a 3-room flat in Havelock Road. The flat gave them a home to call their own and a concrete stake in the wealth of our nation. They stayed there in the same home for almost 50 years, brought up two children who are now married and have their own families.
Last year, Mr and Mrs Sin decided to right-size to a 2-room Flexi flat, near their second child, which is where we took this picture. They converted some of their home equity into cash and CPF savings. They are financially independent and they can now enjoy their golden years with their 2 grandchildren.
This is the Singapore Dream, HDB-style, and the story is not unique, because I’m sure many of us can relate to this in our lives, or that of our parents, or we would have met many residents like them.
While we have achieved tremendous success with home ownership, I recognise that Singaporeans are still concerned about the future. It’s reflected in the speeches of many Members during the Budget Debate. I have also met many parents who are worried about their children’s future; as well as young Singaporeans who asked me whether they can look forward to a better life than what their parents had.
I understand these concerns, and they are not unique to Singapore; they are felt around the world. Enabling homeownership is a major challenge in cities everywhere. Young people struggle with high living expenses and house prices. For example, I read a recent report of the situation in the UK. In 1998 it took an average worker about 3 years to afford the down-payment to buy a home in the UK. Today, it takes 20 years – from 3 to 20 years today. As a result, many young people in the UK have no chance of buying property.
Our situation in Singapore is very different from the UK and other countries and this didn’t happen by chance. It’s because we made home-ownership a strategic priority from the start of nation building and have continually invested in it over the decades, a point which Mr Alex Yam and many other members of this house have made earlier. That’s why couples are today assured of a quality home at an affordable price even before they get married – it’s something that no other country in the world can offer.
We are committed to keeping this Singapore dream alive – to help couples secure their flats more quickly, start their families, sink roots into the community and have a concrete stake in our nation. As Mr Gan Thiam Poh highlighted just now, first-timer married couples with or expecting a child already enjoy priority under the Parenthood Priority Scheme. As with many other first-timer families, mature estates and larger flat types are popular with such applicants. But I would encourage them to apply in the non-mature estates, where 9 in 10 PPS applicants of BTO flats are successful.
In fact, if you are a first-timer applying for a BTO flat in non-mature estates, you can book one within the year, unless you insist on choosing a specific town or location. So if you apply for a flat in a non-mature estate today, the waiting time comprises mostly the construction time, about 3 to 4 years.
But I know there are many young couples who hope to move into their homes quickly, to embark on this marriage and parenthood journey together. So, we have looked into their requests seriously, and I am happy to announce that HDB will offer BTO flats in some projects with a shorter waiting time.
We are achieving this not by rushing construction, but by commencing construction ahead of launch, so the waiting time will be cut to around 2.5 years. We target to launch the first batch of such flats in 2018. We will start with about 1,000 flats, spread out among our non-mature estates.
In addition, we will launch these projects with special quotas to further prioritise young couples who are ready to settle down. At least 95% of 4-room or larger flats will be set aside for first-timer families, which is a 10 percentage-point increase from the existing BTO quota. These are the flat types that are most popular amongst first-timer families. The quotas for smaller flat types will remain unchanged to meet the housing needs of second-timers, singles and the elderly who right-size.
Besides BTO, our Sale of Balance Flats (SBF) exercises are also a popular option today for couples who wish to get their new flats quickly. Due to their large scale and variety, SBF flats are currently only offered twice a year, and applicants would apply for a specific town and a flat type. But there are some balance flats left unsold after each SBF exercise.
So I have asked HDB to offer these unsold flats for sale in a more efficient manner. Instead of releasing these unsold flats by specific towns and flat types, we will pool together unsold units and put them out for balloting at more regular intervals. Those with urgent housing needs and who are less particular about location can apply and need not wait for the usual SBF exercise which only happens only twice a year. This will be a new sales mode with ballot priority given to first-timers. HDB will launch the first such exercise in the later half of this year, and will announce more details when ready.
Regardless of how long the waiting time, as highlighted by Mr Gan, our Parenthood Provisional Housing Scheme (PPHS) allows couples to start building a life together while waiting for their flat to be completed. To date, about 2,000 households have lived in PPHS flats, and we have welcomed more than 400 “PPHS babies”! One such couple is Mr and Mrs Leong. They booked a BTO flat in 2013, and while waiting, they moved into a PPHS flat in Dover Road with their 3-month old daughter. While they were there, they welcomed the arrival of not just one, but 2 other daughters while staying in their PPHs flat. Their new 4-room flat in Keat Hong is ready, and the family of five will be moving in soon.
So I think Ms Josephine Teo and the NPTD office will be very happy with what we are doing. We know that every dollar counts for a young family just starting out. That is why HDB rents out PPHS flats at subsidized rates. Mr Darryl David and several MPs have asked whether we can lower the rents even more. We have studied this very carefully and to help families further, we have decided to lower PPHS rents by $200 to $400 per month, depending on flat type and location. So with the example of a 3-room flat in Jurong, with the new rents, it will be $600, and in Commonwealth it will be $700. And effectively, the new rentals will be about or less than half of market rentals. Couples taking up this option can save more than $1,000 a month by renting a PPHS flat instead of a flat in the open market. This will give young couples more affordable options to start their lives together while waiting for their new flats to be completed.
Mr Gan and Ms Tin Pei Ling also suggested making available PPHS flats to couples who are still applying for BTO flats, meaning to say their flats have not been booked yet but they are still in the process of applying. We can study this but let’s remember that PPHS rentals are highly subsidized. So I think it’s fair that we set clear timelines for couples to stay in PPHS. The best way to assure this is when they have already booked a flat, then we know that the flat is booked and there is a specific timeline for which they need the PPHS rentals.
Finally, there’re always resale flats for couples who want to move in quickly and have specific preferences on location, e.g. if they wish to live close to their parents. There are many more options to choose from in the resale market. We know that affordability can still be a concern for such couples especially when they are just starting out. That is why we have increased the grants for resale flats as was announced in the Budget. With the enhanced grants, most young couples should be able to afford the downpayment for these resale flats. In fact, together with existing grants, resale flat buyers can enjoy as much as $110,000 in housing subsidies.
Mr Alex Yam and Professor Randolph Tan asked if the enhanced Housing Grant will push up resale prices. We’re aware of this risk and we studied the matter very carefully. But we expect resale prices to remain stable for a few reasons. Firstly, there is currently a healthy resale flat supply. A good number of owners will be selling their existing flats when they move into their newly completed homes. So the additional supply will help to soak up the increase in demand. Moreover, sellers will need to be realistic in pricing their flats because home-buyers always have the option to buy a new flat from HDB. So that puts some reality check on the prices that sellers would be able to set.
The resale price is also linked to the overall state of the property market and here. Er Dr Lee Bee Wah suggested removing the Additional Buyer’s Stamp Duty for Singaporeans and I think several other Members have mentioned this on previous occasions as well. I note the suggestions. The property measures have helped to achieve a soft landing in prices. Today, housing demand remains firm given the current interest rate environment and income growth. So we will continue to monitor this carefully to maintain a stable and sustainable property market.
Mr Yee Chia Hsing, at the Budget debate, had suggested reviewing the concept of ownership of residential properties, such that if a residential property is held by a corporate entity or a special purpose vehicle, and the shares of the company are transferred from seller to buyer, the normal residential stamp duties should apply. The Government has been studying this issue. In principle, we should treat transactions in residential property on the same basis, regardless of whether a property is transferred directly or through a transfer of shares in a company whose primary business is in residential property in Singapore. We plan to make legislative changes to effect this. The aim or the intent is not to impact the ordinary buying and selling of shares in such companies, where they are listed on the stock market by retail investors. However, significant owners of residential-property-holding entities will be subject to the usual stamp duties when they transfer equity interest in such entities, like what would happen if they were to buy or sell the properties directly.
With the changes in the CPF Housing Grant, let’s take a look at how a resale HDB flat compares against the BTO options today. Let’s take the example of a couple looking to settle down in their first home together, and looking to buy a place near their parents in Tampines, a mature estate. The price of a 4-room new flat in Tampines is about $300,000 to $360,000. A 4-room resale flat in Tampines is now selling for about $430,000, before grants. With the grants, the resale flat price will be comparable to a new flat price. So a young couple looking for a flat in Tampines can buy a resale flat and move in immediately.
We will do one more enhancement for the resale market, and before our Members get excited, let me assure you it is nothing to do with price or grants, but we are going to do something for the transaction process. Today, doing a resale transaction can be quite an involved process, even with the help of an agent. It takes about 16 weeks to complete a resale transaction, and you require two appointments with HDB. We can do much better than this. So we will leverage technology; and make the process faster and more streamlined. HDB is working on this and will announce the details by the end of the year.
I hope that all these measures will make housing more affordable and accessible for young couples, and help them to start their marriage and parenthood journey early. At the same time, I encourage young couples to do your research and consider the different housing options. Be prudent and find a home that’s within your budget and means. If you are looking for resale, choose a flat with a sufficiently long lease to cover your needs. Then like Mr and Mrs Sin, you will have a home and a nest-egg that you can tap on for retirement later in life.
While our focus is on helping first-timers, HDB flats also meet the housing needs of Singaporeans at every life stage. Our family, job and financial circumstances change over the course of our lives, and the housing arrangement that was suitable when we were young may no longer be the right fit some years down the road.
For those who come to HDB again as second-timers, we are helping them with a number of measures that we have introduced or enhanced in the past few years. For example, some may wish to move closer to family members after the grandchildren are born, or as the grandparents age, for mutual care and support. These families can benefit from the enhanced Married Child Priority Scheme (MCPS), the Multi-Generation Priority Scheme (MGPS), or 3Gen flats if they are buying new flats; or they can benefit from the Proximity Housing Grant (PHG) for resale flats which we introduced earlier.
Now we are also providing more housing options for singles. We have opened up 2-room BTO flats to singles in 2013. The initial response was very strong – the application rate was 57.5 in the first exercise in 2013; we have brought this down to 6.6 last year, and to date, 9,700 singles have successfully booked a flat. We will continue to put out more 2-room BTO flats to meet the needs of singles.
Singles can also opt for a resale flat and benefit from the enhanced CPF Housing Grant announced in this year’s Budget. For example, a first-timer singles buying a resale flat under the Single Singapore Citizen (SSC) Scheme can qualify for the CPF Housing Grant of $25,000 for a 4-room or smaller flat, or $20,000 for a 5-room flat. Eligible singles applying under the Joint Singles Scheme (JSS) will receive the CPF Housing Grant of the same amount as first-timer families.
Several members – Ms Kuik Shiao-Yin, Mr Louis Ng, Ms Rahayu Mahzam and Ms Cheryl Chan – also asked how we are helping the vulnerable groups, including divorcees and single unwed parents. We are fully committed to helping them with their housing needs and making sure that no one falls through the cracks. If they are unable to afford a flat and do not have alternative housing options, HDB will assist them with a rental flat, and we are continuing to build more rental flats to meet these needs. In the last 3 years, HDB has helped nearly 2,000 single parents with a public rental flat, and by single parents we mean divorcees with children as well as unwed mothers with children. This is about 27% of all households who were allocated a public rental flat during that time.
Every case that HDB receives is unique and our officers will review each case very carefully. If necessary, they will work together with the local social service agencies – the SSO, the Family Service Centre social workers – to assess the family’s situation, and they will exercise flexibility for those in difficulties.
Besides helping with rental, we also introduced the Fresh Start Housing Scheme last year. This was to provide additional grants for second-timer families living in rental flats, so that they can purchase their own homes. Mr Saktiandi mentioned this and asked about the status – we’ve just opened up for applications in December, and I recently visited some of the families who applied for the scheme. One of them is a single mother, who moved into her rental flat a few years ago, together with her daughter who just entered secondary school. They are getting support from various parties, including from the family. The grandmother helps to look after the daughter after school so that the mother can work; there’s an aunt who takes the daughter to the library because she enjoys reading; and there are MSF officers who check-in with them regularly to see how they are doing.
So it shows that it’s not just about getting a flat as important as that is. It’s about the family having all-round support which the Government and community can provide. And that’s what we are doing with Fresh Start – in this case, the family will be applying for a new 2-room Flexi flat by the end of the year. We are very happy for them, and we wish them all the best in their Fresh Start journey.
I’ve shared broadly our approach in helping these vulnerable groups; MOS Koh Poh Koon will elaborate further and give more updates on the progress of the Fresh Start scheme.
Another important group that we watch out for is our seniors. They have a nest-egg in their HDB flats, and many would like to tap into this nest egg so that they can live out their golden years comfortably.
Today, seniors who wish to monetise their flat can consider a range of options. They can rent out a room; they can apply for the Lease Buyback Scheme (LBS). Mr Gan Thiam Poh and Mr Zainal Sapari suggested extending LBS in various ways. In fact, we’ve already extended the maximum lease under LBS to 35 years. We do not currently plan to extend further. But HDB will exercise flexibility to allow some needy seniors below the age eligibility criterion to tap on LBS, on a case-by-case basis. We’ve also extended the LBS to 4-room flats to cover the majority of seniors. For those in larger flats, it’s better to tap on other monetisation options such as right-sizing to a smaller flat
And so I want to dwell a bit on what we want to do to make right-sizing more attractive. Today, if you right-size, you would already get a chance to get a Silver Housing Bonus of up to $20,000. We are providing more options for seniors to do so. That’s why we introduced the 2-room Flexi scheme, with flexibility on the choice of lease length, flat size and internal fittings. We are building more of these 2-room Flexi flats and setting aside supply of such flats specially for seniors. We are also offering priority to those moving near their existing flat or near their married children
We are seeing better success rates for seniors who are applying for these 2-room Flexi flats. Currently, the numbers who take up the right-sizing option are not large. When we survey and ask people, they tell us that the process is sometimes quite daunting. So we will work at making the entire process of right-sizing much easier through three moves
First, we will introduce more hand-holding for our seniors. Seniors who are interested in exploring their monetisation options can walk in to HDB Hub or Branches and receive one-on-one financial consultation. To make the experience more comfortable, we have implemented an elderly priority queue at the HDB Hub, so they can get prompt attention, and our officers will guide them through the right-sizing process
Second, we will allow right-sizing seniors to defer the full down-payment amount till key collection. We know that some seniors find it difficult to fork out the minimum 5-10% down-payment, as their monies are locked up in their existing flats. To help them, we will allow all buyers aged 55 and above who are right-sizing to a new 3-room or smaller flat to pay the down-payment and balance purchase price later, at the point when they collect the keys to their new flat. I think this will be a big help to seniors who are right-sizing.
Third, we will introduce a new Temporary Loan to help those with cash flow issues at the key collection stage. Currently, those who are right-sizing can make use of the HDB cash Contra facility. What this means is when you sell an existing flat and buy a new one, you can contra. But this requires some coordination in timing, because you need to complete the sale of the existing flat and collect the keys to your new flat on the same day as a back-to-back transaction. And this is not always easy to do. In practice, we all know that it takes time to sell the existing flat and it is not always possible to time the transactions so perfectly. So we will provide right-sizing seniors with a Temporary Loan, which allows them to complete the sale of the existing flat after key collection. While we have seniors in mind, we will extend the Temporary Loan to non-elderly who need this, so that a wider group of home buyers can benefit as well
So we have these three moves that we hope will make right-sizing more convenient, more accessible for all our seniors. And we hope this tailored package of measures will make the whole right-sizing process a more pleasant one for our seniors, from start to finish.
Our Future City and Home
Madam, a home is not just about the flat you live in, but the quality of our overall living environment – that means our HDB towns and also the rest of our city. And that’s something that we’ve always been very mindful of. What we enjoy today is the result of long-term commitment, meticulous planning, and painstaking implementation – year by year, decades after decades. And that’s why today, we have beautiful HDB homes set in lush greenery and waters, like what you see here in Tengah Forest Town, which we are going to put out the first batch of flats by next year.
I note what Mr Png Eng Huat said earlier about quality issues and defects. I would be the first to admit that HDB is not perfect. But which developer is? In all building projects, there will always be some defects here and there, and that’s why there is a one-year Defect Liability Period where the developer has remedy defects.
Let us be fair and objective in assessing HDB quality. Any objective assessment of the quality of HDB projects would show that the quality has improved over the years. If you look at independent assessments like BCA’s CONQUAS, which measures construction quality, indeed they have improved over the years. Moreover, whenever we see that there are defects or issues, we will make sure that HDB goes in to remedy them and puts things right. For the cases mentioned by Mr Png, we will look into them if there are specific issues which require particular attention. We are building an inclusive environment for people of all ages and abilities.
We are building a more vibrant city with its own distinctive character, heritage and identity, attributes that Mr Alex Yam mentioned. We are also building more integrated, mixed-use districts, where people can live, work and play together. We are also taking steps to rejuvenate our older estates, not just our new towns.
I note the suggestions by Er Dr Lee Bee Wah, and Ms Jessica Tan to extend the HIP. I have explained before our position on this. We are still in the process of working through the current batch of upgrading for HIP. Let us finish this first. We are studying the subsequent batch but as I’ve mentioned before, this is contingent on the resources of the Government to fund such a programme. Because any upgrading programme is a major commitment that spans over many years. We have undertaken upgrading projects before and we will continue to do so. SMS Desmond Lee will elaborate more on this.
Madam, there’s much that we can be proud of in Singapore, but we must never take this for granted. We have significant infrastructure demands in our next phase of development. We need to replace existing infrastructure assets which are ageing and also invest in new infrastructure projects. Members already know about our plans to expand Changi Airport and Tuas Terminal. We have other infrastructure needs too, including public transport system, utilities system like water which we have discussed extensively in Budget debate, sewage, waste, power grid. All these are crucial in enabling economic growth, generating jobs and improving the quality of life for our people. We cannot assume that all new infrastructure will be automatically put in place, and old ones will be automatically upgraded by the Government.
Look at the situation in many first-world democracies where infrastructure is deteriorating. Just take America as an example, where some cities are still relying on water and sewage pipelines that were built more than a century ago. Why is this happening? Partly because of NIMBY mindsets and opposition from various interest groups. Because it’s not-in-my-backyard; I oppose a new infrastructure next to my home. It’s partly also because Infrastructure projects are very expensive and many governments do not have the resources to fund them. Private financing has been cited very often as a way around this. But PPP is not a silver bullet. Ultimately, someone has to pay, which means higher user charges or taxes. Because of all these difficulties, there is a tendency for politicians to kick the infrastructure can down the road, and focus on short-term deliverables. And that’s why you see the situation you see in many advanced, developed countries. Infrastructure gets neglected, and the result is deteriorating infrastructure. We are not immune from these pressures. So we must never assume that infrastructure will automatically get done in Singapore. If the economy fails, if there are no fiscal resources, if there is an incompetent government, then nothing will happen. Infrastructure will stagnate and Singapore will decline.
Some people have also asked me if there’s a lot more we can do, given our land constraints. What more can we do in Singapore where everything is already developed? The fact is that we have yet to reach our physical limits. We are optimising land use to free up more space. I mentioned this last year where through the movement of Paya Lebar air base and the city ports, we can free up much more space for new developments. We are exploring ways to expand space options including underground space, as Mr Darryl David mentioned just now. Underground space is not so much for underground living. I don’t think we are ready for that. But we can certainly put utilities and storage facilities, many other things, underground – then valuable surface land can be freed up for housing, greenery and other uses.
There’s tremendous potential to dream big, think boldly, and build a new Singapore for the next 50 years. We must not let complacency set in, or worse, allow a culture of stasis to take root and ossify our society. The same spirit of innovation that we need for the economy must be applied to planning our future city and home. We must find innovative ways to build new infrastructure for the future. We must develop new and innovative urban concepts that will make Singapore a more attractive, sustainable and liveable home.
Take the example of how we’ve succeeded in building a Garden City. Some of you would have read the recent reports of how Singapore was ranked as the city with the highest density of trees worldwide. It’s a result of decades of hard work, with a strong personal push and commitment by our founding PM Mr Lee Kuan Yew. But now that we are where we are today, what comes after this? Are we done? Is this the climax of all that we need to do? In fact, our next phase is to be a City in a Garden. This is not just a slogan or a clever turn of phrase, but a strategic imperative. We must continue to enhance our greenery further not just at the ground level, but even sky-rise level. We must enhance our bio-diversity, and learn to live in harmony with nature, with the flora and fauna around us for all to enjoy.
Likewise, we are known for our good economic infrastructure, which attracts companies from around the world. But we cannot afford to stand still while others catch up and move ahead.
How can we invest in new infrastructure to make Singapore even more competitive, attract more investments, and create more jobs for our people? The Committee on the Future Economy had studied this and set out several recommendations, as several members have also highlighted. Let me share some of the areas that MND and URA are working on. Our aim is to create new growth centres, not just in the downtown area, but all over the island. These new centres can be nodes for related industry clusters to come together, including new growth areas like FinTech and cyber-security. We will also set up more innovation spaces for incubators, accelerators and start-ups. This was something that Mr Liang Eng Hwa had suggested earlier in the Budget Debate. These centres will be attractive spaces for Singaporeans to live, work and play together.
One such centre is Jurong Lake District which members would be aware is also the site of the High Speed Rail (HSR) terminus to Kuala Lumpur. This is no ordinary site because when we consulted with many experts, including exerts from abroad, they have told us that it is very rare to find such a site in other cities, which is located in a setting of lush greenery and water, the way we have in Jurong Lake District now. We will integrate our new developments with the surrounding greenery and water bodies in Jurong Lake Gardens, which itself is being enhanced and revamped as our new National Gardens in the West. This will be a beautiful setting for new waterfront housing and office spaces. When we complete the High Speed Rail station, it will not only be a major transport node connected to our MRT lines, but will also have a central linear park on the surface, connecting to Jurong Lake Gardens.
This will not just be a second CBD, but it has the potential to be a centre with multiple dimensions. The High Speed Rail station will make Jurong Lake District a new gateway to Singapore, and a regional hub for ASEAN business. Jurong Lake District is also near the new Tuas Terminal that we are building in the West. It is also close to other knowledge and economic centres, like the Jurong Innovation District, the CleanTech Park and the NTU campus. So, more than just another CBD; this can be a Central Innovation District. An Incubator for new ideas and innovation, and a catalyst for Singapore’s next stage of transformation, the way Jurong Industrial Estate kick-started our manufacturing sector 50 years ago.
Another new area is Punggol North. This is a mixed-use area comprising residential land uses, the new Singapore Institute of Technology (SIT) campus and also commercial and business park users. This growth cluster within Punggol New Town will have a focus on the digital and cyber-security industries, and Punggol will be a key area for us to drive our Smart Nation initiatives. We are designating this as our first “Enterprise District” where we will try out several new planning concepts.
First, we will appoint a Master Developer for the whole district, and allow more flexible land use within the area. In the Punggol cluster, most of the developments are undertaken by government agencies, so we will appoint JTC as the Master Developer. JTC will then have the flexibility to develop the district based on land use and Gross Plot Ratio guidelines at the overall district level. In other words, instead of having planning controls imposed on individual land parcels, JTC will be able to optimise land use across the entire development and find ways to integrate the needs of different users. For example, since SIT’s campus and the JTC’s business parks are located side by side, we can have closer integration of the facilities. SIT’s research labs, incubator spaces and learning facilities can be located inside JTC business park buildings and shared with industry. At the same time, SIT can host industry research and development facilities and start-up spaces within their buildings. This will help to create synergies between academia and businesses, facilitate test-bedding and prototyping of new innovations.
The second benefit of having such a Master Developer is that we can more comprehensively design and implement good pedestrian connectivity and public spaces. Traditionally, a desired network of public spaces and connectivity links can only be realised over a long period of time as the various land parcels are developed step by step. With a Master Developer overseeing the implementation of an enterprise district, the key pedestrian routes and public spaces can be identified up front and a more comprehensive network can be implemented.
Thirdly, the Master Developer will plan for and implement district-wide systems like district cooling, pneumatic waste conveyance system to support the district, all of which will help to reduce energy use, and enhance the sustainability and attractiveness of the environment
Beyond Punggol, we are also looking to introduce the Master Developer approach in other new residential and mixed use districts, where private developers will be given flexibility in planning and developing at a district level. We will provide for such an opportunity in Kampong Bugis, which is a new residential precinct. The Whole precinct is about 17ha in size. The traditional approach would be to carve it out and put out individual plots for sale. But this time, we will tender out the entire site for a Master Developer. We will give flexibility for the Master Developer to come up with the overall plan, and develop the project by phases in line with market demand. But the Master Developer will also have to be responsible for certain outcomes. We want this to be a people-centric, car-lite precinct. We will require the Master Developer to put in place a comprehensive network of pedestrian walkways and cycling paths, as well as community and green spaces. And also, we will want the Master Developer to put in place District level systems to manage waste and storm water. The development of Kampong Bugis will form part of our larger rejuvenation efforts for the Kallang River. Along the way, we will enhance the river with more greenery, seamless jogging and cycling paths. More homes will be introduced and the older industrial estates in the area rejuvenated. All these will be done in a way that is sensitive to the rich heritage and biodiversity of the river so that over time, we can transform the entire riverfront, and bring back new life and vibrancy to the area.
Conclusion
Madam Chair, I’ve just shared a few of our urban transformation plans. There are many more that are being worked on. These are major moves that will take decades to complete. The Government can’t do this work alone. We will need close partnerships with the community and private sector and the collective efforts of all to develop new innovative urban solutions. So I call on Singaporeans to join us in this exciting journey to build and remake our entire city.
The best cities in the world are defined not by their buildings or infrastructure, but by their people. It is the spirit and imagination; their culture and identity of our people. We must be prepared to adapt to change; and constantly innovate and improve. We must continue to embrace diversity, and welcome new ideas and talent. We must be prepared to work hard and make sacrifices today, so that we can reap the fruits tomorrow. That’s what our pioneers did for us; and that’s how we can in turn pay it forward for our next generation – a greater city, an endearing home, a better Singapore.