Former HUDC estates hopeful about hitting en bloc thresholds under proposed collective sale measures
These former HUDC estates sit on sprawling sites and are reaching the mid-point of their 99-year lease, and could yield far more homes if redeveloped, say analysts.
Certain former Housing and Urban Development Company (HUDC) estates, once built for middle-income households in the 1970s and 1980s, are eyeing new collective sale opportunities. These sprawling sites, nearing the halfway point of their 99-year leases, could potentially generate a substantial number of new homes if redeveloped, according to analysts.
Pine Grove, Ivory Heights, and Laguna Park are among the estates hoping to leverage proposed lower en bloc thresholds, which could lower the consent requirement for older developments aged 40 to 59 years from 80% to 70%, and from 80% to 65% for those aged 60 years and above. Analysts believe that Laguna Park, with its 516 units, could yield around 1,700 new homes, while Pine Grove's 660 units could potentially offer over 2,000 new properties.
The estates are optimistic about the prospects of en bloc attempts, especially with the looming urgency of maintenance needs due to their ageing nature. Management corporation strata title (MCST) and collective sale committee members expressed confidence in the proposed changes, with some highlighting the benefits of extended timelines and reduced signature requirements.
However, they also cautioned about the potential challenges of a shortened signature collection period, emphasizing the need for decisive action from owners.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
