Centurion - CGS-CIMB Research 2023-10-11: New Interim Standards For SG Worker Dorms

• Singapore’s Ministry of Manpower (MOM) announced today a Dormitory Transition Scheme (DTS) to improve existing worker dormitories’ living conditions and resilience against any potential future pandemics. Dormitories approved before Sep 2021 can transition to the Interim Dormitory Standards (IDS), which are less comprehensive than the New Dormitory Standards (NDS) applicable for newer dorms.
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Financial support may be provided

• Given the existing shortage of worker housing, dorm operators have from 2027 to 2030 to transition under the DTS, and financial support may be provided for the retrofitting costs. By 2040, all dorms must fully comply with the NDS.
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Gradual de-densification suggests supply tightness to persist

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Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.

Read also CGS-CIMB's most recent report:
2023-11-10 Centurion - Revenue Growth Accelerated In 3Q23.

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