The latest update from Minister for National Development Desmond Lee has revealed that HDB has completed the final two Build-to-Order (BTO) projects from its pandemic-delayed housing projects. The announcement, made on January 20, marks the completion of Punggol Point Cove (Phase 2) and Kempas Residences, bringing the total number of projects completed by HDB within the last five years to 92. These projects have delivered 75,800 new flats to Singaporeans.
In 2024, HDB completed 22 housing projects, out of which 17 were delayed due to the pandemic. The remaining four delays were due to non-pandemic reasons. The completed projects included two Shorter Waiting Time (SWT) projects, Parc Glen at Tengah and Grove Spring at Yishun, which provided a total of 1,995 flats within a waiting period of less than three years. The rest of the projects had waiting times of up to five years, delivering over 18,000 flats in total.
Flat owners of Punggol Point Cove (Phase 2) have been receiving the keys to their new homes since November 2024, while key collection for Kempas Residences started in mid-January this year. HDB is expected to inform the remaining flat owners of their key collection date soon, following the completion of the final blocks in both projects this month.
Punggol Point Cove (Phase 2) is located along New Punggol Road and consists of 1,179 units of two-room flexi, three-, four- and five-room flats across six residential blocks. The last block of the project was completed 12 months after its original Probable Completion Date (PCD) due to pandemic delays. As of January 15, 657 households or 59% of 1,109 booked units have collected their keys. This marks the completion of all flats in the Punggol Point District, including Punggol Point Cove (Phase 1), Punggol Point Woods and Punggol Point Crown BTO projects, which were also completed in 2024.
Kempas Residences, located between Serangoon Road, Lavender Street and Boon Kheng Road, comprises 583 units of two-room flexi, three-, four-room flats across four residential blocks. The final block, delayed by six months from its original PCD, was completed in mid-January. As of January 15, 37 households or about 7% of 555 booked units have collected their keys.
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Currently, HDB has 110 housing projects under construction, an increase from 95 a year ago due to the increase in BTO supply in recent years. HDB is on track to complete around 17,000 flats across 27 projects in 2025. Interested buyers can check out the latest listings for HDB properties and compare HDB loans versus bank loans.