SINGAPORE – With the construction industry on the recovery path, more than 20,000 HDB flats were completed in 2022, the highest number in the last five years.
This is about a 50 per cent increase from the number of flats completed in 2021, said the Housing Board on Friday. The low figure in 2021 was due to disruptions during the Covid-19 pandemic, which had led to delays in several projects.
The new flats were part of 22 housing projects, the highest number of housing projects to be completed in the last five years. There were also more than 17,100 sets of keys issued to flat buyers in 2022 – 15 per cent more than in 2021.
HDB chief executive Tan Meng Dui said the construction industry has seen a steady recovery since early 2022, following the disruptions from the pandemic.
He said: “HDB has been working hard with our industry and agency partners to catch up on the delays to Build-To-Order (BTO) projects, even as we ramp up new housing supply.
“But unlike other industries which may have rebounded fully from the effects of the pandemic, time is needed to clear BTO construction delays, and we continue to double down on this effort. Riding on the positive momentum of 2022, we target to complete another 20,000 flats across 22 housing projects in 2023, and expect to complete the backlog of pandemic-affected projects in about two years.”
Among the housing projects completed in 2022 were those that were delayed when former contractors Greatearth Corporation and Greatearth Construction were unable to complete them due to financial difficulties.
HDB subsequently brought on board new contractors to take over the balance of the works at these projects – Senja Ridges, Senja Heights and Sky Vista @ Bukit Batok.
HDB said two projects that were formerly under Greatearth – Marsiling Grove and West Coast Parkview – are on track to be completed in 2023. Two other projects that were delayed – Waterway Sunrise II and Anchorvale Village – are also on track to be completed in 2023, it added.
Also among the delayed projects that HDB expects to be completed are several projects with a shorter waiting time. These are BTO flats that have waiting times of less than three years.
HDB said the bulk of such flats launched from 2019 to 2022 – comprising more than 8,000 flats – will be completed over the next two years and that it aims to launch even more BTO flats with shorter waiting times, possibly from 2024 onwards, subject to site availability and readiness.
HDB said it is working to bring down the median waiting time of new BTO projects, which is around 4.3 years for the 94 projects currently under construction, to the pre-pandemic norm of three to four years.
HDB said it is also meeting the strong housing demand by ramping up the supply of BTO flats.
Up to 23,000 BTO flats will be launched in 2023, and HDB said it will continue to monitor the housing demand closely and is prepared to launch up to 100,000 flats in total from 2021 to 2025, if needed.
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