Singapore Law Blog

The 168-unit Amberville is the first HUDC to have successfully clinched a deal at $183 million with a member of the Far East Organization. The completion of the sale and purchase is still subject to the top-up of the lease to 99 years and subject to the approval of the Strata Titles Board. This works out to a higher-than-expected $396 per square foot per plot ratio inclusive of an estimated development charge of $35.2 million and $23.8 million to top up the site's lease from the remaining 71 years to the original 99 years.