The Business Times
business-time-50

QC rules still apply for conversions to serviced apartments

A key motivation for developers seeking change is hope of exemption from 2-year sales deadline, without paying any penalty

google-preferred-sourceAdd BT as a preferred source
Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, Feb 25, 2015 · 09:50 PM

    Singapore

    DEVELOPERS that may be thinking of converting private residential projects on sites that are subject to Qualifying Certificate (QC) conditions to serviced apartments may be heading for a dead end.

    The Singapore Land Authority (SLA) would still require them to sell the whole project within the stipulated two years after completion - or pay extension charges.

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS shares rise 1.9% to hit all-time intraday high as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More