My Waterway@Punggol closes 2014 on a perfect note

This morning, I was at Punggol to witness the handover to HDB of a completed block at the Waterway Woodcress BTO project.  This is the last BTO handing over event for the year and is noteworthy on three points.

First, it marks the completion of 28,000 new flats in 2014.  That is quite a record for the HDB in recent years.

Second, Waterway Woodcress is the first completed BTO project along the iconic “My Waterway@Punggol”.  This brings waterfront living to HDB residents and raises the quality of HDB precincts to a higher plane.

Third, Waterway Woodcress was also one of the first BTO projects that I launched in my first year at MND when we decisively ramped up HDB building programme to meet the supply shortfall.

I visited Mr Kayom and his family, proud owners of a new 4-room flat in Waterway Woodcress.  They are enjoying every moment of waterfront living and the captivating views.

2014 marks the turn of the housing market in Singapore.  Prices have been moderating and the market shifting from a seller’s to a buyer’s market.  The shift is not yet complete and 2015 should see greater stability.

We are scaling down the pace of construction but remain proactive on refining our policies to meet diverse housing needs of flat buyers and home owners: singles, married couples who wish to live together with or close to their parents, seniors who wish to monetise their large flats etc.

In 2015, we will see 26,000 new flats being completed and handed over to buyers.  They include iconic projects such as the Waterway Terraces, as well as SkyTerrace@Dawson and SkyVille@Dawson.  I know the owners are eagerly waiting to receive the keys, as many of them wrote to me about it.

But next year, we will be launching a lower number of new flats, at 16,900 flats. Nonetheless, we will still ensure a diverse mix of flat types and locations, including Bidadari, Punggol Northshore and Tampines North.  I expect them to be popular.  They will be iconic in their own unique way.

For HDB, 2014 is ending on a perfect note.  If the global environment remains benign, I expect 2015 to also be spectacular for Singaporeans and HDB residents.  On this note, let me wish all a Happy New Year!

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