1,100 apply for Singapore condo-like HDB flats on Day 1

1,100 apply for Singapore condo-like HDB flats on Day 1

8,000 pack Boon Keng showflat; the 714 units will be sold only via online ballot

By Tan Hui Yee, HOUSING CORRESPONDENT
MEMBERS OF THE PUBLIC queuing up to view the City View @ Boon Keng showflat. Some turned up as early as an hour before the 9am opening time. — PHOTOS: JOSEPH NAIR FOR THE SUNDAY TIMES

ABOUT 1,100 people had applied for 714 condominium-like flats in Boon Keng by 6pm yesterday on Day One of the application period.
Around 8,000 people packed the showflat, with some showing up as early as an hour before the 9am opening time. And this in spite of it not making a difference to their chances of getting a unit as the flats will be sold through an online ballot.

The development, called the City View @ Boon Keng, is the second public housing project to be built and sold by private developers.

The units cost between $349,000 and $727,000 and will come with built-in wardrobes, timber flooring, wall-to-wall balconies and air-conditioning. But they do not have more expensive common facilities such as swimming pools.

First in line for viewing was Mr Xue Xiao Dong, 40, who turned up with his wife and son at the showflat at 8am - one hour before it opened.

The engineer had applied for a standard Housing Board flat in Telok Blangah last year but was unsuccessful.
He said: ‘I know it’s a ballot. But still, I hope that if I come early, I will stand a higher chance.’

Home-seeker Mr V.S. Nathan, 37, came prepared with the necessary documents to apply for a flat on the spot.

‘It seems nice,’ said the manager of a trading company. ‘My initial budget was about $500,000 for a five-room flat, but I may have to buy a four-room flat now.’

The project, which comprises 72 three-room flats, 168 four-room flats and 474 five-room flats, can be bought only by families earning no more than $8,000 a month.

Given that the first lot of such units in Tampines - 616 units developed by Sim Lian Land - attracted almost 6,000 applications in October 2006, the Boon Keng flats were expected to be hot property from the start.

Developer Hoi Hup Sunway and its marketing agent HSR were prepared for the crowd: A large white marquee with seating for 300 acted as the holding area for potential buyers outside the showflat, while families and individuals who entered the showflat were guided by agents.

The spokesman for Hoi Hup Sunway, Mr Wong Chee Herng, said buyers felt the prices were high but liked the flats anyway.

‘We didn’t foresee that so many applications would come in so soon,’ he said.

The results did not surprise property agency chiefs such as Mr Eugene Lim, assistant vice-president of ERA Singapore, who said the project’s proximity to Boon Keng MRT station, the ‘commanding views’ from its 40-storey blocks and its location on the city fringe added up to an attractive product.

Another 2,500 such condo-like flats are being planned for Ang Mo Kio, Bishan, Toa Payoh, Simei and Bedok in the coming months.

Applications for the Boon Keng flats can be made only online at www.hoihup.com and close on Jan 16.
Source : Straits Times  - 06 Jan 2008

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CJ considers stricter rules for lawyers in Singapore

CJ considers stricter rules for lawyers  in Singapore

By Selina Lum

TIGHTER rules have already been put in place, but it seems there are still ways for a lawyer to make off with clients’ money.
Now, the Chief Justice is wondering if lawyers should be barred from holding clients’ money altogether.

He has appointed Judge of Appeal V. K. Rajah to head a committee to study whether such a system is feasible and desirable.

CJ Chan Sek Keong made the announcement at the opening of the legal year yesterday, attended by judges, lawyers, legal officers and other members of the legal community.

Six new Senior Counsel were appointed at the ceremony, and new Law Society president Michael Hwang made his debut speech.

As is customary, the CJ gave a report card of the work of the courts in the past year and announced new initiatives, such as a website for lawyers to keep up to date with legal developments.

Without naming names, CJ Chan referred to the case of rogue lawyer Zulkifli Amin, who went missing in November. He apparently skipped town for the Philippines after siphoning some $6 million of his clients’ money.

Last year, the Law Society tightened the Solicitors’ Accounts Rules, which govern how lawyers handle clients’ money, as a better check against embezzlement.

This change followed from at least eight cases where lawyers ran off with millions. One of them, David Rasif, swiped $12 million and is now missing.

‘But the latest incident shows that these measures cannot prevent desperate or crooked lawyers from helping themselves to clients’ monies,’ the CJ said.

Mr Zulkifli is the first errant lawyer since the new rules came into force to protect clients’ money. Among the rules: two signatures are needed to withdraw sums higher than $30,000.

Investigations are ongoing, but according to sources, Mr Zulkifli may have forged the second signature or perpetuated some fraud.

Yesterday, CJ Chan said: ‘We need to face reality and come up with a workable scheme to protect clients’ monies.’

While the obvious solution was to prohibit lawyers from receiving clients’ money, this would ‘change radically a conveyancing system which has been in place for more than a hundred years’, he acknowledged.

It may also affect the efficiency of the property market, a concern lawyers interviewed also raised.

Justice Rajah’s working party, which will comprise representatives of all stakeholders in the property market, will study the ramifications of such a change, he said.

It has been given three to five months to study the problem and make its recommendations.

Lawyers interviewed yesterday were in favour of such a system, saying it will probably involve an independent body holding or administering the money.

Speaking to reporters, Senior Counsel Hwang said he did not think the Chief Justice is thinking about a total ban because there have not been any problems with lawyers who hold clients’ money in non-property transactions.

‘You can’t abolish this thing overnight. If we abolish the holding of clients’ money, we will probably be the only country in the common law world to do so,’ he said.

‘Whatever system you have, you can’t stop outright, deliberate, malicious embezzlement. All you can do is try and make it more difficult.’
Source : Straits Times  - 06 Jan 2008

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Turquoise @ Sentosa Cove - Singapore District 04 - Singapore Property

Turquoise @ Sentosa Cove - Singapore District 04 - Singapore Property

Fronted by the charming waterway and neighbour to an acclaimed golf course, Turquoise offers you pleasures like no other. Take to the ocean on a whim; it’s a breeze when your yacht is docked at your own private berth. Embraced by both the sea and golfing green, Turquoise offers views of unparalleled tranquillity all around. Take your pick of 91
exclusive apartments, each served by a private lift. Spread over two low-rise blocks of six storeys each, the wide selection of three and four bedroom apartments as well as Penthouses and uber-luxurious Sky villas is sure to meet your demanding tastes. 21 private berths within the development ensure that you have all you need for true waterfront living.

The buildings are conceived beyond essential function, to be highly recognizable in mind. The architecture is responsive to the nautical context, combining a clean expression with distinctive maritime roof forms and balconies that lend an aura of prestige. The simplistic and dynamic architecture form an elegant exterior. It is a pure modern expression and a visually arresting landmark. Turquoise will play an important part to the skyline of the SentosaCove.

Location: Cove Drive, Sentosa Cove
Tenure: 99 year leasehold
Expected Completion: 31 Dec 2010
Total Units: 91

Unit Types:
3br ~ 2088-2573 sqft
4br ~ 2400-3035 sqft
Penthouse ~ 3111-3746 sqft
Sky Villas ~ 6900, 6964, 7987 sqft

Facilities:
Entrance water feature & driveway
Clubhouse
Gymnasium
Reflective pool
Entertainment deck
Leisure pool & pool decks
Sanctuary pavilion
Spa seats
Wading pool
Cabana & BBQ deck
Waterfront promenade
Garden walk
Guard house
21 private berths

Needless to say, Turquoise features full condominium facilities including a function room, swimming pool with integrated spa pools, BBQ pavilions, landscaped gardens and a gymnasium.

Step inside and you will find an unstinting attention to detail. Designer sanitary wares from the premier Laufen Alessi Collection by Stefano Giovannoni and Axor Starck fittings by Philippe Starck which elevate the bathroom from the merely functional to an elegant oasis of relaxation. Similarly in the kitchen, expect only the finest appliances from Miele to inspire your next culinary masterpiece.

Step just beyond the island for more at VivoCity, Singapore’s largest retail, entertainment and lifestyle destination; while the Orchard Road shopping belt is a mere 10-minute drive away, as is the Central Business District. Truly at Turquoise, accessibility and exclusivity go hand in hand.

Sentosa Cove

Unrivalled in location, quality and prestige, Sentosa Cove is the epitome of waterfront living. With its unique integrated waterfront resort concept that blends residential, commercial and marina facilities, it is not only Singapore’s most desirable address - but one of the world’s most exclusive residential enclaves.

Singapore Real Estate - Buy ,Sell, Rent ,invest ,Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments,commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop,factory, warehouse & land right here.

MINDY YONG

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Singapore Horizon Towers saga revived as opposing owners appeal against sale order

Singapore Horizon Towers saga revived as opposing owners appeal against sale order

By Loh Chee Kong,
SINGAPORE: Just when some prayed it was all over, the owners of Horizon Towers could be in for more sleepless nights — exactly a month after the Strata Titles Board granted the sale order for the contentious $500-million deal.

That decision would have brought a closure to the long-running saga, but for unhappiness among minority owners with the ruling.

On Thursday and Friday, these dissenting owners filed appeals against the board’s decision, just meeting the one-month deadline to do so.

Lawyers representing all three groups of minority owners, who had contested the deal, told TODAY they had submitted the originating summons to the High Court. But they were tight-lipped about what the grounds of appeal were, as they were preparing the affidavits which have to be submitted in a week’s time.

TODAY understands, however, that some minority owners were still sore over the price of the deal and what they alleged was a breach of duties on the sale committee’s part in not securing a better deal.

Sale committee chairman Lim Seng Hoo did not relish news of the appeal. “We were unsure if the minority owners would appeal, so we didn’t expect it. But we felt we would cross the bridge when we got there,” he said.

On the prospect of another protracted legal tussle, Mr Lim said: “Litigation is not something anyone is pleased to be involved in but unfortunately, this seems to be the trend for en bloc sales in Singapore.”

The lawyers for consortium Horizon Partners Pte Limited (HPPL), which is buying over the site, declined comment as they had not been served the legal papers.

The en bloc process for Horizon Towers began in May 2006 when a sale committee was formed to collect signatures for the Collective Sale Agreement.

A deal was sealed eight months later but since then, has been fraught with controversies. Some majority owners tried to back out of the sale, after witnessing how neighbouring properties such as Grangeford revised their reserve price upwards to reflect the booming property market.

At the height of the wrangle last year, the majority owners managed to stave off a $1-billion lawsuit HPPL had brought against them for loss of profits, when they successfully appealed against the board’s original decision in August to throw out the deal over technical irregularities.

Back then, the High Court overruled the board and sent the case back to it, which culminated in the approval of the sale order.

TODAY understands that the minority owners would have to apply for a court injunction to halt the sale which, as things stand, should be completed by the first week of March.

And it remains to be seen if HPPL will revive its lawsuit against the majority owners — it will be withdrawn only upon the completion of the sale.

Whatever the outcome of the latest appeal, the case can still be brought to the Court of Appeal, which will be the final avenue for the condominium’s owners, said lawyer Philip Fong.

Added Mr Fong, who represents some of the minority owners: “There must be a resolution at some point in time.”
Source : TODAY  - 06 Jan 2008

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Singapore City View @ Boon Keng sales launch attracts 8,000 visitors

Singapore City View @ Boon Keng sales launch attracts 8,000 visitors

SINGAPORE: Some 8,000 people were at the sales launch of City View @ Boon Keng, the second batch of condo-style public apartments under the HDB’s Design, Build and Sell Scheme.

And so far 1,100 people have applied to buy their dream homes in the 714-unit development, undeterred by the high average cost of $520 per square foot.

City View @ Boon Keng is located on the city fringes and is within walking distance of the Boon Keng MRT station.

At 40 storeys high, the development also promises a fantastic view of the city.

But some potential buyers are interested in the project’s location.

“Location wise, it’s good. This is near my mum’s house, within 2km, worth a try,” said a potential buyer.

“I’m used to living in this area. If I want to get a private condominium in this area, it’s very expensive. So I thought that I want to give it a shot here,” said another potential buyer.

But some find the price expensive. “It’s a bit too expensive. We’ll see how it works within our budget. Maybe, we can get a lower-floor unit,” said a visitor to the show flats.

The closing date for applications to buy the apartments is 16 January, and the results will be made known within six weeks. - CNA/ir

Source : Channel NewsAsia - 06 Jan 2008

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Singapore SLA to put residential state properties on new open bidding system

Singapore SLA to put residential state properties on new open bidding system

By Wong Mun Wai

SINGAPORE : The Singapore Land Authority (SLA) has introduced a new open bidding system for a fair and transparent allocation of residential state properties.

It will put up some 36 properties under this system in the first half of this year.

The properties include a bungalow on Hyderabad Road with a guide monthly rent of S$13,500 and an apartment on Clemenceau Avenue North with a guide rent of S$1,150.

In October and November last year, the Authority successfully awarded five vacant residential state properties under its pilot bidding system.

These included semi-detached houses in Malcolm Road and Seletar, and two bungalows at Stevens Road and King Albert Park.

The previous system was based on a first come first served basis and balloting or queue system under waiting lists. - CNA
Source : Channel NewsAsia - 06 Jan 2008

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Mindy Yong

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