Category Archives: Trendy News

More En Bloc To Happen in Year 2017

raintree-garden-en-bloc

Successful En bloc

Raintree Gardens was among the successful en bloc properties this year.
Market watchers anticipate more residential properties to go en bloc following the success of three collective sales this year, in 2017, reported The Business Times.

More To Come

“Next year, I anticipate more — and a broader variety of — offerings in the marketplace, mostly of small- and medium-sized en blocs, which ought to find takers among developers that are eager to really have a new project to work on, so long as they’re sensibly priced,” said JLL International Director and Head of Residential Karamjit Singh. And not forgetting that there will be also new launches in 2017 like Grandeur Park Residences By CEL, Frasers @ Siglap, Inz Residences EC by Qing Jian etc…

Development in progress

Singh credited this year’s pickup in en bloc prices to development website deficit, retrieval of residential outlook from negative to neutral- the realistic pricing, along with positive and powerful aspects of en bloc websites offered.

Committee Formed

The collective sale committee (CSC) for Lakeside Towers in Jurong, for example, has invited seven legal businesses and 14 property consultancies to submit suggestions for consultancy services to carry out the en bloc sale procedure. The CSC is currently going through the bid entries, after which an en bloc sale deal will be drafted by them using a reservation price.

“We reckon that $250 million to $300 million in bid cost ought to not be uncomfortable to an individual developer,” said the CSC chairman Simon Lee.

Jobs anticipated to take the en bloc course by Q1 2017 contain the 12-unit Villa D’Este on Dalvey Road in prime District 10, and Cairnhill Mansions in District 9.

Programmer’s map blunder sparks row with Indonesia

mapFollowing a Singapore-based developer’s map blunder, which gave the erroneous belief that Indonesia’s Pulau Manis isles are part of the city state, Jakarta declared on Wednesday (1 June) that the problem has been solved.

“The error was corrected said Indonesian Foreign Ministry spokesman Arrmanatha Nasir, reported TODAYonline.

Based on the developer, the first map posted on its web site was meant to reveal the resort is near the city state, or a ferry ride of approximately 16km. “We don’t have any intent to declare or indicate that it belongs to Singapore.” The place’s colour has since altered to red to reveal that it’s part of Indonesia.

On the other hand, the diplomatic row prompted the Indonesian armed forces by putting their state’s flag on the highest point of one of the isles to maintain their sovereignty over Pulau Manis.

Pulau Manis, now being promoted by the developer as Funtasy Island, is touted as the area’s largest eco park resort. The 328ha development will feature dolphin lagoon villas, beach club and a theme park.