17 Oct '17, 5am

Foreign developers warm up to en bloc sales

View of HDB flats in the Ghim Moh area. Despite its cumbersome and protracted process, the en bloc fever has started to catch on among foreign developers – especially those from China – signalling a paradigm shift, reported Business Times . JLL regional director of investments Tan Hong Boon noted that en bloc sites were hardly considered by developers before 2016 since more sites were available under the government land sales (GLS) programme than in the collective sale market. But as more attractive en bloc sites are offered in the market on the back of the limited supply of GLS sites, more developers are now turning to the en bloc market. With this, increased enquiries regarding the collective sale process have since been observed among foreign players. A corporate lawyer revealed that Chinese developers may have even surpassed a mental hurdle towards the collective sale ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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