Lawrence Wong on the Voluntary Early Redevelopment Scheme (VERS)
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Lawrence Wong on the Voluntary Early Redevelopment Scheme (VERS)(Updated: )
Minister for National Development Lawrence Wong said the Government does not rule out private developers playing a role in VERS. He replied to a question from MP Cheryl Chan in Parliament on Monday (Sep 10). Several MPs asked for details of the scheme, such as how precincts will be picked and how compensation will be computed. Mr Wong said the Government is doing a thorough study on how to implement VERS, so it would be premature to go into details now. VERS is set to begin in 20 years, letting HDB flat owners vote for their flats to go "en bloc" about 70 years into their lease.