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Thread: City Plaza En Bloc

  1. #61

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    Quote Originally Posted by bestguitarist View Post
    In my humble opinion, the valuation report is merely to satisfy the statutory requirement - the RP has to be above the said valuation. I would imagine it is quite common that the valuation report is created backwards to match whatever RP generally accepted by the majority. I personally think that relative to the RP, the apportionment method is harder to agreed on for mixed developments like City Plaza. Thanks for the update Tulip09. May I know if this is the third EOGM which is to approve the terms in the Collective Sales Agreement? It is interesting that there is one residential unit for sale on propertyguru, asking around $1500psf. Wish this a success and hope you can hugely benefit economically from this opportunity.
    It was the second EOGM and was to approve the RP + Apportionment as well as CSA.

  2. #62

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    Quote Originally Posted by Tulip09 View Post
    It was the second EOGM and was to approve the RP + Apportionment as well as CSA.
    Anymore progress update Tulip?

  3. #63

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    Quote Originally Posted by PropVestor View Post
    Anymore progress update Tulip?
    Yes. Although the Valuation & Apportionment were approved at the EGM there was much unhappiness expressed about the valuation of individual units which seemed quite subjective and arbitrary. As at end Oct they could not even get 20% fully signed . The earlier figure given didnít mean anything as many owners who signed could not get the co owners to sign as well. In my opinion we are headed for failure.

  4. #64
    Join Date
    Jun 2009
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    Southbank
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    Quote Originally Posted by Tulip09 View Post
    Yes. Although the Valuation & Apportionment were approved at the EGM there was much unhappiness expressed about the valuation of individual units which seemed quite subjective and arbitrary. As at end Oct they could not even get 20% fully signed . The earlier figure given didn’t mean anything as many owners who signed could not get the co owners to sign as well. In my opinion we are headed for failure.
    Can see from the number of new shop opening at City Plaza.

  5. #65

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    Quote Originally Posted by Tulip09 View Post
    Yes. Although the Valuation & Apportionment were approved at the EGM there was much unhappiness expressed about the valuation of individual units which seemed quite subjective and arbitrary. As at end Oct they could not even get 20% fully signed . The earlier figure given didn’t mean anything as many owners who signed could not get the co owners to sign as well. In my opinion we are headed for failure.
    Heads up buddy. The old will have to make way for the new in this island obsessed with skyline renewal.

  6. #66
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    Jun 2009
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    Quote Originally Posted by PropVestor View Post
    Heads up buddy. The old will have to make way for the new in this island obsessed with skyline renewal.
    If you got enough stubborn people they will stay.

  7. #67

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    Quote Originally Posted by Arcachon View Post
    If you got enough stubborn people they will stay.
    No human lives forever.

  8. #68
    Join Date
    Jun 2009
    Location
    Southbank
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    Quote Originally Posted by PropVestor View Post
    No human lives forever.
    Problem is they live long enough to give you a nightmare.

  9. #69

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    Age is relative like how some will only see capital appreciation over rental play.

  10. #70

    Default City Plaza en bloc issues

    Quote Originally Posted by Arcachon View Post
    If you got enough stubborn people they will stay.
    Itís not that most donít want to sell. The problem is the way the way valuations were done , too much variation between neighbouring units. Frankly even if they get 80% which is extremely unlikely, the minority will have good grounds to object to STB. Most are agreeable to selling but not in a hurry as itís FH and Paya Lebar still has upside potential. When the airport moves in 2030 height restrictions will be lifted. It is expected that by the 2020s value of the land will appreciate in view of this.

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