The Business Times
business-time-50
SUBSCRIBERS

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

google-preferred-sourceAdd BT as a preferred source

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

    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.

    Singapore residential propertyResidential propertyCollective sale

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Piyush Gupta, chairman of SMU, Keppel and Mandai Wildlife Group, said: "We have to position the parks to serve our advocacy purpose, to serve an entertainment purpose, to continue to be what Singaporeans want.”

    Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Among the STI components that will trade ex-dividend this week are DBS and Frasers Logistics & Commercial Trust.

    Power of payouts: A big chunk of the STI has just gone ex-dividend. What’s next?

    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