In a rare decision, the Strata Titles Board (STB) threw out the collective sale application of Finland Gardens in Siglap after it failed to meet statutory requirements.

Justice Choo Han Teck on 11 October 2007 ruled that the Strata Title Board (STB) cannot dismiss the sale application by the sellers of Horizon Towers because of technical errors in the application.

The Horizon Towers Story has been compiled into a blog by someone calling himself "Enblock Victim". He has taken the trouble to weed out all the irrelevant flaming found at forums and blogs. The link is at http://htstory.blogspot.com.

Mr Ong Ying Ping shared his knowledge on the legal pitfalls in an En-bloc sale Seminar organised by Ahrals. The presentation made during the seminar is found at this link.

The Land Titles (Strata) (Amendment) Bill was tabled for First Reading in Parliament by Deputy Prime Minister and Minister for Law Professor S Jayakumar today.

Delays by the buyer, Travista Development, ended in deal being cancelled. The Owners of Mayer Mansion on Devonshire Road can keep the $3m deposit. They have a new offer of $42m from another buyer.

A lawyer from Ong Tay & Partners, Ong Ying Ping, will be giving a presentation at a seminar organised by Ahrals on 30th August 2007.

En-bloc sales could slow down in the second half of 2007 compared to the first six months as sentiments in the property market turn cautious. A combination of factors - uncertainties in the financial markets prompted by the US sub-prime crisis; more vocal minority owners; uncertainties with the proposed new laws on en-bloc deals and the government's move to raise development charge rates - can have dampened developers' appetite for en-bloc deals.

The majority owners of Horizon Towers, who face possible legal action over the failed en bloc sale, are meeting to decide if they should accede to the buyers demands to extend the deadline for the completion of the collective sale and to file a fresh application to the Strata Title Board.

The Strata Titles Board dismissed the application by the majority owners of Horizon Towers to approve the sale on "technical grounds".

Owners of five fairly small adjoining freehold residential developments in Mergui Road have banded together to sell the properties as one medium-sized lot for up to $125 million. The properties - Norfolk Court, Mergui Lodge, Northern Mansion, Mergui Court and The Mergui - are located near Rangoon Road and Moulmein Road.

Pacific Mansions and Rivershire have both failed to attract bids from buyers willing to match the prices asked by their respective owners. The two developments are in the River Valley area.

The minority objectors to the en-bloc sale of Futura Condominium have appealed the Strata Title Board decision to allow the sale to the High Court.

Tulip Garden has been sold to Shan He Investment Pte Ltd (a unit of Bravo Building Construction Pte Ltd) for S$516 million or about S$1,018 psf ppr. The deal was managed by Savills.

During the Committee of Supply Debate 2007, Deputy Prime Minister, Co-ordinating Minister for National Security and Minister for Law, Professor S Jayakumar announced the main proposed amendments to the en bloc sale legislation. These and other amendments were recommended by a study team that was set up to review the en bloc sale legislation.

One Balmoral sets record for collective sale price in Balmoral Road area when its was sold for $125m to the Hong Leong Group. This works out to $1,188 per square foot per plot ratio (psf/ppr), the highest ever yet for a Balmoral Road property. Mount Everest Properties handled the sale.

This Circular clarifies the property tax treatment on en-bloc sales sites or developments which are collectively sold by the owners of individual units to the developer.

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.