Our Past Reserves are used to fund land-related projects such as land reclamation and the creation of underground space[2] like the Jurong Rock Cavern as well as specific land acquisition projects like Selective En-bloc Redevelopment Scheme (SERS)[3]. This is a form of asset conversion, from a financial asset to a physical asset. The land created or acquired forms part of our State land holdings and is protected as Past Reserves. Further, when such land is subsequently sold, the proceeds accrue fully to Past Reserves to ensure that there is no draw on Past Reserves.

Find out more about what our reserves are used for.

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[2] Past Reserves are used to fund only expenditure directly related to the creation of land, but not for the construction of infrastructure on the land. 
[3] Past Reserves are used to fund only the land component of the total compensation of the acquisition costs.