Enbloc

The en bloc balancing act

THE law on en bloc sales looks set to be beefed up, on the back of lessons learnt from the many tussles of the past year. When the Bill to amend the Land Titles (Strata) Act was introduced yesterday in Parliament, it contained far more rules than the Ministry of Law (MinLaw) had proposed five months ago. This, on the back of over 400 suggestions it received during public consultation in April and May....

Changes to en bloc rules will benefit all players in the long run: analysts

Market watchers and analysts are still studying the impact of proposed changes to rules governing en bloc sales unveiled in Parliament on Monday. Some say the revision will benefit property developers as it means greater clarity and certainty to their initial investment. Owners of Neptune Court at Marine Parade are exploring an en bloc sale. And insiders tell Channel NewsAsia, that so far, only about 40...

Property en bloc deals expected to slow in H2: consultants

The value of en bloc deals done in the second half of this year could slow down compared to the first six months, as sentiments in the property market turn cautious. But property consultants say total deals are still likely to hit $16 billion - double that of last year - due to an exceptionally active first half. A combination of factors - including uncertainties in the financial markets prompted by the...

$24m en bloc sale of Lewis Court

The spate of collective sales continues as Lewis Court, a 12-unit walk-up apartment block, was sold to Hiap Hoe subsidiary Guan Hoe Development for $24 million through a collective sale tender. Property consultant and collective sale specialist Credo Real Estate put the property up for sale last month following a 100-per-cent consensus from the owners. “The purchase of Lewis Court is in line with our...

Billion-dollar en bloc sale on East Coast possible, say experts

More than 85 per cent of the en bloc transactions for 2005 and 2006 were located in district 1 (Marina Bay), the prime districts of 9,10 and 11, as well as district 15 (Katong), according to a report by Savills. Experts agree as property developers continue to build and sell projects, they need to acquire new land to continue the business cycle. With land being a premium in the prime districts, the...

CapitaLand acquires Silver Tower on Orchard Road enbloc for S$161m

CapitaLand has acquired Silver Tower on Orchard Road in a collective sale for S$161m. It plans to build a luxurious 20-storey condominium with 100 apartments on the freehold site.CapitaLand's purchase works out to S$1,107 per square foot per plot ratio.This includes an estimated development charge of S$16.5m. Silver Tower sits on a 57,200 square feet area with a gross plot ratio of 2.8. There are...

Enbloc sale: What are the methods used to distribute sale proceeds?

The common methods used are: Share value: the apportionment for each unit is proportionate to a unit's share value in relation to the total share value for the whole apartment Average of the strata floor area and share value: the apportionment is according to the unit's strata floor area in relation to the total strata floor area. The figures derived from the share value method and floor area method are...

Guide on Enbloc Sale

What is Enbloc Sale? Enbloc = in a lump; as a whole Thus, an Enbloc Sale basically means: all owners of separate units in an apartment, condominium or even an office building, coming together to collectively sell their properties to a developer for comprehensive redevelopment. Why Enbloc Sale? allows owners to sell their properties for at a higher price than they could fetch by selling individually...

Compare listings

Compare