The Pines club members sue Peter Kwee for damages
Among their demands are compensation for membership, renovated clubhouse or membership at another equivalent club
Singapore
SOME 103 members of The Pines club have made good on their word. On Friday, they sued Exklusiv Resorts Pte Ltd, the owner of the now defunct The Pines club, and its director, motoring tycoon Peter Kwee, for alleged deceit, negligence, misstatement and breach of contract.
This came after the latter failed to deliver a renovated clubhouse at its Stevens Road vicinity as allegedly promised to club members, owing to the fact that the plot of land had changed hands to developer Oxley Holdings, who had built two Mercure and Novotel hotels on it.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%