SINGAPORE: 2,800 shops islandwide will benefit from the Housing & Development Board's (HDB) latest S$1.9-million Revitalisation of Shops (ROS) Scheme.
Now into its sixth batch, the ROS aims to help these shops enhance their business vibrancy and competitiveness.
HDB said this is in response to several requests from local merchants' associations (MAs), following the success of the earlier five batches of shops that benefited from the scheme.
The ROS scheme is part of the government's ongoing measures to help HDB retailers.
HDB said it has spent about S$8.4 million on the scheme since its inception in November 2007.
So far, the scheme has benefited 4,600 shops at 52 sites, covering half of HDB town and neighbourhood centres.
The scheme comprises three components:
Co-funding for upgrading of common area • To improve the overall shopping environment for residents, HDB co-funds physical upgrading works to its shopping complexes, as well as town and neighbourhood centres. • The works could include shop directories, fixed awning, signage, facade improvements and landmark structures, etc.
Co-funding for promotional events • HDB will also co-fund up to 50 per cent of the expenditure for promotional events organised by the MAs to attract consumers. • Retailers from the past five ROS batches saw up to 30 per cent improvement in their sales during such promotional events. • For this sixth batch, at least 60 events are expected to be organised in conjunction with the Great Singapore Sale, Christmas or New Year countdown celebrations, Lunar New Year, etc.
Rent-free periods for tenants to renovate their shops • HDB recognises that tenants may experience a drop in revenue when they carry out upgrading works in their shops. • HDB will assist these tenants by granting them a rent-free period of up to one month when their shops undergo renovation in conjunction with the ROS scheme.
The merchants' associations and retailers may choose to apply for all, or a combination of the above benefits based on their needs and preferences.
For this sixth ROS batch, 27 sites applied for co-funding for promotional events, while two other sites applied for co-funding for upgrading of common areas. - CNA/xq
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