Chee Hong Tat on Voluntary Early Redevelopment Scheme

The Voluntary Early Redevelopment Scheme (VERS) aims to redevelop ageing estates in an orderly manner by spacing out the works in towns where there are many older blocks that were built around the same time. It is a complex policy and long-term undertaking. National Development Minister Chee Hong Tat, who said this in reply to MPs' questions in parliament on Wednesday (Sep 24), added that his ministry aims to firm up as many policy details as possible during this term of government. After it has established the framework and parameters, it can then start with a few selected sites - likely in the first half of the next decade. It will continually review the processes and progressively scale up VERS by the late 2030s. He said MND is working on the details of the compensation package. The amount would vary for different sites and flats. MND is also studying details, such as the voting process and relocation options for various demographic groups. MND and HDB will engage Singaporeans on the framework and policy parameters when they are ready with the draft proposals, he added.