5 Dollars 25 Years of Public Housing

Singapore's public housing program, run by the Housing and Development Board since 1960, had by 1985 rehoused roughly 80% of the country's population — one of the most compressed mass resettlement programs in modern urban history. The 25th anniversary this coin marks fell during Lee Kuan Yew's tenure, when HDB construction targets were treated with the same administrative urgency as defense spending.

The .925 silver KM#48a was issued alongside a copper-nickel counterpart, KM#48.