In its announcement, HDB said that all seven blocks of the project had been completed and owners of five of the blocks had received the keys to their new homes since December last year.

The remaining owners will be allowed to collect their keys after the completion of the inspection of the last two HDB blocks, and it is expected that all owners will receive their keys by the end of this month.

As the project will be completed after the contracted delivery date, HDB will award the maximum compensation to Waterway Sunrise II owners based on the sale price of the HDB flats and the length of the delay.

The 896 HDB flat owners who pre-purchased their flats before October 2021 will receive compensation ranging from $1,000 to $10,500.

The 1,014-unit Waterway Sunrise II project was originally scheduled for completion in the first half of 2021, but was delayed due to the poor performance of Lian Ho Lee Construction, the contractor responsible for the project.

The authorities have since found another developer to take over the project. However, manpower shortages and disruptions to the building materials supply chain during the epidemic caused further delays.

HDB said it was on track to complete 22 housing projects and hand over the keys to 20,000 homeowners this year as the construction industry recovers from the epidemic.