The Straits Times·3 min read·medium
En bloc reforms welcomed, but concerns raised over timeline
G
Grace Leong
✦AI Summary
Singapore is proposing reforms to its collective sale (en bloc) regime, including lowering consent thresholds for older buildings to facilitate urban renewal. While the industry welcomes the lower thresholds, there is concern that the reduction of the signature timeline from 12 to 6 months is too restrictive.
Former HUDC project Laguna Park faces rising maintenance costs due to its outdated electrical wiring and lifts, and numerous water seepage issues. In its fifth attempt at a collective sale, it collected less than a 50 per cent mandate.
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