AT 10.45 AM Distinguished Guests Ladies and Gentlemen First of all, let me congratulate all those who are about to receive the keys to their new homes. Moving into a new place is always exciting.
Today is no different.
They have much to celebrate. However, they will be the first to own HDB's Studio Apartments - the first of their kind in Singapore. The Government launched the Studio Apartment Scheme in 1998, to cater to the special needs of the elderly HDB flat lessees. By selling their existing HDB flat on the open market and buying a Studio Apartment, they are able to shift into a new apartment specially designed to be elderly-friendly, and are also able to set aside some of the proceeds from their existing flat for their golden years. The new homes are very conveniently located.