Beware of Fake News - Part 3

Contributed by a fellow SP...    Continued from last 2 posts

There are some people who are pro-enbloc sale, including certain members of the CSC and the marketing consultants, who would spread fake news in order to get more owners to sign the Collective Sale Agreement (CSA). The following are some examples of the fake news.


Please see earlier posts for examples 1, 2.. Here is example 3-

(3) The minimum price is increased from $990 million to $1.1 billion after the architect engaged by Huttons said that the developer can build 10% bonus Gross Floor Area (GFA) in the future condominium on the Teresa Ville land.

This is not true. The real reason why the Collective Sale Committee (CSC) increased the minimum price to $1.1 billion, is to get more owners to sign the Collective Sale Agreement (CSA). After 3 months, less than half the owners signed the CSA. The CSC and Huttons were desperate to do something.

Why it is Fake News?

Currently in Singapore, any non-HDB land that is zoned for non-landed residential development, can potentially be developed with up to 10% bonus Gross Floor Area (GFA) for balconies. The developer must meet certain requirements before the government would approve the building of the bonus GFA in that specific project.

Therefore, the Teresa Ville land already has the potential to let any developer build the bonus GFA even before we start this enbloc sale exercise. We do not need the “architect who is appointed by Huttons” to tell us that the Teresa Ville land is capable to be developed with bonus GFA.

This begs the question: Did Huttons really engage an architect to verify that the 10% bonus GFA could be built on the Teresa Ville land?


Dear Fellow Teresa Ville Owners.. as stated in first post of this blog, purpose of postings like above , is to provide relevant insights, observations, alerts and information to fellow Teresa Ville SPs, so that they can take more informed decision based on facts and not because of pressure tactics of Huttons, whose sole objective is to push the enbloc sale of Teresa Ville asap and collect their fee; and also from various persuading efforts of some highly motivated SPs who any way wanted to sell their apartment and would like to take advantage of higher premium of collective sale.  


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