Leng Beng again calls for review of Qualifying Certificate policy

Singapore

CITY Developments (CDL) executive chairman Kwek Leng Beng once again called for the government to ease land-banking measures for property developers, in the belief that this will help to regulate land and property prices, a view not shared by some industry players.

Asked at the group's results briefing for his thoughts on the recent aggressive prices paid in government land tenders, he reiterated his stance in the media release, where he had said: "We remain hopeful that the Qualifying Certificate (QC) policy can be reviewed in due course, so that developers can look towards both government land sales and private sales for land replenishment, and avoid a dangerous upward spiral in land cost and property prices that is not in line with the growth of the economy."