Lake Life first EC to beat 15-month sale-launch rule

[SINGAPORE] The Lake Life executive condominium (EC) in Jurong, which is to be launched for sale by e-applications on Oct 4, is set to become the first EC to beat the 15-month period stipulated by the government to launch units for sale.

According to a government ruling introduced last year, developers who acquired EC land parcels after Jan 12, 2013, can launch units for sale only after 15 months from the date of award of the sites or after the completion of foundation works, whichever is earlier.

For the consortium led by Evia Real Estate, the completion of foundation works came earlier, slightly over 14 months from the date of award of the site.