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HDB deficit before grants shrinks 19% to S$1.6b as new supply tapers

Flats, including those under the design, build and sell scheme, completed during the financial year fall 19.9% to 24,163 units

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During FY16, HDB launched three build-to- order sales exercises that offered more than 15,000 flats.

Singapore

THE Housing Development Board's (HDB) net deficit before government grants shrank by about 19 per cent in fiscal 2016 to S$1.6 billion as the public housing agency continued to reduce the pace of new builds.

For the year ended March 31, 2016, the net deficit incurred by