The authorities also addressed the possibility of a new category for private-hire cars, cautioning that doing so would not necessarily alleviate COE prices.
Those living and working nearby the construction sites of the North-South Corridor have been resigned to jams and noise, but look forward to its completion.
The Land Transport Authority has awarded the final three contracts - worth a combined $954.1 million - for the upcoming North-South Corridor.
Shanghai Tunnel Engineering Co has been awarded a $615.9 million contract for the North-South Corridor, a new 21.5km expressway.
The Land Transport Authority has awarded another six contracts for the construction of the North-South Corridor, covering six sections.
An additional two civil contracts, worth $1.16 billion, have been awarded for the construction of the North-South Corridor.
South Korean builder Samsung C&T Corporation has clinched the first civil contract, which involves a 1.25km stretch of tunnels, for the North-South Corridor.
While works will start slightly later than what was previously announced, the Land Transport Authority said it will maintain its 2026 target completion date.
Once the new North-South Corridor is completed by around 2026, residents living in the Northern part of Singapore can expect faster bus rides to the city.
According to the Land Transport Authority, the North-South integrated transport corridor - a 21.5km expressway - is expected to be completed by 2026.