07 Jan, 2009
Laguna Park has reached it's 80%.
The deadline was 14 Dec 2008.
Ex-HUDC, 528 units, 667,000 sq ft, Plot ratio: 2.8
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Now they have a full year in which to market their estate, find a buyer, get their RPA and bits and bobs together and make an application to the STB.
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They could be the Farrer Court of the East if the sale committee members keep their heads screwed on and the majority owners are kept in the loop and, more importantly, have a say in the decision making. Let's hope that the carrot is not taken away and replaced with a bean sprout on the back of a anaemic property market. A resident, Mr. Lee Kok Leong* has expressed his hope that the estate will be marketed in the 3rd quarter of 2009 rather than now - in the anticipation of a stronger market - but it remains to be seen whether or not the SC's actions will mirror the expectations of the 80%. If speculators and desperate men are in the driving seat, then I fear not.
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*This is the same Mr. Lee, ex-chairman of the MC who supposedly was caught gluing residents' doors shut!! Can't the reporter find someone more credible to speak to!
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The sale committee have their mandate and they will most probably not wait too long before putting the estate on the market.
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There are 2 EOGMs (possibly amalgamated into one) at this point in the process (after the 80% but before launch of sale):
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d) to update on total number of SPs who have signed the CSA
e) to provide information on the sale proposal and sale proceeds
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It would be nice to see a complete list of the names and addresses of all the agreeing owners and the date on which they signed the CSA - in the name of transparency, of course. Perhaps an owner might write a letter into the Secretary of the MCST to table this request at the EOGM. If possible, the letter should carry as many signatures as humanly possible and a copy handed to the most eminent Marine Parade GRC MP at a meet-the-people session.
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Today - 15 Dec 2008
Laguna park clears hurdle
Business Times - 15 Dec 2008
ChannelNewsAsia - 14 Dec 2008
Laguna Park for an en bloc sale?
Business Times - 12 Dec 2008
Today - 12 Dec 2008
ChannelNews Asia - 11 dec 2008
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