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Strata Titles Board stops Chuan Park’s S$890m en bloc sale

Owners will now head to court to settle the outcome of the collective sale

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Corinne Kerk

Published Fri, Dec 9, 2022 · 05:19 PM
    • Dissenting owners filed their objections to the STB, alleging that Chuan Park’s CSC and marketing agent ERA Realty failed to disclose material facts relating to a higher development baseline for the condominium - which translates into a “deep discount” for the buyers - among other issues.
    • Dissenting owners filed their objections to the STB, alleging that Chuan Park’s CSC and marketing agent ERA Realty failed to disclose material facts relating to a higher development baseline for the condominium - which translates into a “deep discount” for the buyers - among other issues. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE collective sale of Chuan Park has been met with a stop order by the Strata Titles Board (STB) on Friday (Dec 9), after a group of six minority owners did not withdraw their objections to the transaction.

    The stop order came after three rounds of mediation. The collective sale committee (CSC) representing the majority owners has 14 days to apply to the High Court to seek approval for the sale.

    Those who objected to the sale may also apply to the High Court, using only the same grounds of objections.

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