Dear Colleagues,
Let me start by wishing everyone a happy and healthy 2023!
This time last year, we were still in the grip of the COVID pandemic. This year cannot be more different, with the return of overseas vacations and physical get-togethers with family and friends. These celebrations may be traditional, a pre-COVID norm, but they are also hard-won and certainly well-deserved. By all accounts, 2022 was an eventful and challenging year for HDB. As I did for 2021, allow me to share some reflections of 2022 as a way to keep stock of how far we have come, even as we gear up for new challenges in 2023.
Ramping Up Housing Supply and Completing Delayed BTO Projects
In 2022, we delivered on our commitment to ramp-up BTO supply, launching over 23,100 flats, exceeding
our target of 23,000 flats. In fact, we rounded up last year with a big bang – launching more than 9,500
BTO flats in Nov 2022, our largest offer in a single BTO sales exercise. We also made steady progress in
delivering delayed BTO projects, completing more than 20,000 flats, the highest annual flat completion in
5 years. With that, we have delivered more than half of the delayed BTO projects since early 2021, and
reduced the proportion of delayed BTO projects from more than 80% to the current 45%, over a
20-month period. At the same time, we reviewed and enhanced the resilience and productivity of our
BTO ecosystem, to better manage future supply shocks.
Keeping HDB Flats Affordable and Accessible
Despite the steady increase in resale flat prices in 2022, we kept BTO prices stable and affordable. More
than 80% of BTO buyers receiving their keys last year had a mortgage servicing ratio of 25% or lower. We
also supported Whole-of-Government measures to ensure financial prudence, and a stable and
sustainable property market, implementing a second round of cooling measures in Sep 2022. To
safeguard the urgent housing needs of First-Timers, we implemented measures to prioritise First-Time
BTO applicants and help them secure subsidized provisional housing while they wait for their BTO flats.
Continuing with HDB’s Transformation Journey
In 2022, we also stayed the course and made strides in our
transformation journey to better position HDB for the future.
One significant development was the reorganisation of our
Branches under the Branch Transformation Strategy into the
5 zones we have now, to provide better staff specialisation
and development, while improving our touchpoints with key
stakeholders. We also continued to advance our
Sustainability agenda Board-wide through smart initiatives in
new towns and an expanded Green Town Programme in
existing towns. In addition, we embarked on a new Digital
Services Project (DSP), which involves deep dives into
various service journeys within HDB, with the aim to deliver a
product design and outcomes that would significantly up our
game in service delivery.
In line with the emphases at last year’s HDB Annual Conference (AC), a Project Phoenix Team was formed
to review how we can strengthen HDB’s people development and organisation structure, to better
respond to emerging challenges. In Jun 2022, we announced 3 Strategic Leads for Data, Sustainability
and Science & Technology. In Nov 2022, we identified 8 Professional Chiefs to strengthen the professional
development of key specialist/technical fields, and to engender pride and identity among them. The
approach was to appoint professional chiefs where it made sense, and not for all specialisations/jobs in
HDB. Indeed, our Land Surveyors, Geomatics Managers, colleagues involved in Valuation work, and even
Estate Managers and Technical Executives, are already right-sited within the same Group/Department,
and have senior appointment holders looking after their professional development. In the months ahead,
you can expect to hear more on some of the structural changes to better position HDB to deal with key
long-range and cross-cutting issues, like managing the variegated leases of HDB flats and planning for
HDB living of our rapidly ageing population.
Settling into Hybrid
As we resume more physical activities at the workplace, it has been heartening to see the buzz and
energy return to HDB Hub again, at our physical conferences/events, mooncake sales and Employee
Wellness Week. I remember reading in one of our @home issues an article about what staff liked the most
about returning to office. I was pleasantly surprised that it was the little things they appreciated like
reconnecting with colleagues and picking up their favourite breakfast on the way to work. Most staff have
settled in and adapted well to our hybrid work arrangement, which strikes a good balance between
work-from-office time for collaboration and team activities, and work-from-home time for more flexibility.
We will continue with this, in support of better work-life balance for staff.
Looking Forward to 2023
HDB and housing-related issues have been making news in recent months. The attention looks set to
continue in 2023. On the housing policy front, arising from the Forward Singapore (FSG) conversations,
some major shifts can be expected in 2023 to help address the angst over housing affordability and
accessibility, especially among First-Timers. As the Government steps up comms and engagement
efforts, let us also do our part, as HDB’s ambassadors, to explain and clear misconceptions within our
own circles of influence, and support this public diplomacy effort on housing issues.
I would like to express my heartfelt appreciation to everyone for your commitment and dedication to
HDB’s mission. I know it has been a hard slog and more remains to be done. While the progress we have
made is clear and palpable, there remain uncertainties in the horizon – an ongoing war, geo-political
tensions and prospect of a recession. But having gotten through some of the most difficult years in recent
history, working as OneHDB, there is good basis for guarded optimism, and a confidence that come what
may, we will get through 2023 in reasonably good shape, together.
I wish one and all a great year ahead.
Warmest Regards,
Meng Dui
