Originally Posted by
propertyguru
The only losers are those in the sales committee who bought extra units to sell in the en bloc. Serve them right for being greedy and for acting despite the conflict of interests.
For the developer, it's hard to say. 800+ psf is quite cheap even in today's economic climate, and by the time the market recovers, I am doubtful any developer will be able to achieve the same pricing. Maybe when the lease runs down to its last five years, but otherwise, it will be difficult. Though from another point of view, they may not wish to sit on the land during the current recession as well. So I think the developer has reason to be happy either way.
The minority owners obviously are winners. And so are the lawyers. Whoever wins, the lawyers always win as well ;-)