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.
Former HUDC estates, situated on extensive sites with numerous units, are optimistic about the possibility of en bloc collective sales under recently proposed measures. These estates, built in the 1970s and 1980s and reaching the mid-point of their 99-year leases, could yield a significant number of new homes if redeveloped. For instance, Laguna Park's 516-unit plot could potentially produce over 1,700 new units, and Pine Grove's 660-unit plot may result in more than 2,000 new homes.
The proposed changes include lowering the en bloc consent threshold from 80% to 70% for estates aged 40 to 59 years, and from 80% to 65% for those aged 60 years and above. This is seen as a timely opportunity for these aging estates, as their maintenance needs have become increasingly pressing. However, management corporation strata title and collective sale committee members express concerns about the reduced timeline for gathering signatures, which could be challenging for large estates.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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