SINGAPORE - Mr Bobby Chin Yoke Choong takes over as chairman of the Housing & Development Board (HDB) on Saturday (Oct 1).

He succeeds Mr James Koh Cher Siang, who retires on Friday.

Mr Chin is currently the HDB Board's Deputy Chairman.

Mr Chin is concurrently the Chairman of NTUC Fairprice Co-operative Ltd. He also serves as a member of the Council of Presidential Advisers.

He was the chairman of the Urban Redevelopment Authority from 2001 to 2006, and was on its board since 1997.

Mr Chin said: "I would like to take the opportunity to express, on behalf of everyone in HDB, our heartfelt appreciation to Mr James Koh for his leadership on the HDB Board in the past 11 years. I look forward to working alongside HDB's executive team and the Board, and build on HDB's strong foundation as a leading public housing authority."

Mr Koh, who has been Chairman since 2007, has guided HDB to achieve a stable public housing market in recent years, HDB and the Ministry of National Development said in a joint statement on Friday.

"Under Mr Koh's leadership, housing policies were also recalibrated to keep in step with the changing needs of Singaporeans and societal norms," HDB said.

In 2013, two-room Build-to-Order flats were offered to singles for the first time, three-Generation flats were introduced to allow multi-generational families to live together.

Reflecting on his chairmanship, Mr Koh said, "It has been a privilege to have served on the HDB Board for the past 11 years, and to have played a part in HDB's transformation during this time.

"Looking back, I am heartened by how much the quality and design of HDB flats have improved over the years."