En Bloc laws
Thanks Letty, Niamh and Jeannette for leaving your comments and adding to the discussion.
The points you have raised are valid, and I think there’s definitely more room for adjustments in our en bloc laws…
Finding the balance between the interests of the majority and minority owners is a complicated task. I can understand why the government would be pro-urban renewal for a land scarce country like Singapore, but I think there should be certain standards in place to make sure the interests of our citizens is not lost in the pursuit of commercial gain. And the tricky bit is refining our procedures such that these standards are fair, and acceptable to all parties involved.
Anyway, all eyes are on the Strata Titles Board now for its decision this afternoon…
Added:
The STB has thrown out the application. The board said this afternoon that “from the evidence, this Board finds and is satisfied that the transaction is not in good faith taking into accoutn the sale price and the method of distributing the proceeds of the sale. This Board will not approve the application.”
