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HDB's deficit widens as it ramps up flat supply (Clarification)

Shortfall due to higher expected loss for flats currently under construction, with more BTO projects awarded and increased development costs
Thursday, December 18, 2014 - 05:50
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HDB built about 16,900 residential units in the financial year 2013/14. This was 46 per cent more than the 11,500 homes the statutory board built in the previous financial year.

Singapore

THE Housing and Development Board's (HDB) net deficit (before government grant) more than doubled to S$1.97 billion in its fiscal year ended March 2014, as it spent more to ramp up its supply of public flats.

This was revealed in the statutory board's annual report