What safeguards should be put in place to make en bloc sale process smoother and fairer? Or is there a need for broader policy changes to cool the en bloc fever?

Leave it to market forces

I THINK the current measures are sufficient to ensure the en bloc process is fair to property owners. It is up to each individual owner or groups of owners to lobby the other owners on their views to sell or not to sell the property. Ultimately, the decision of the majority has to prevail and be respected. I feel that the en bloc process itself is an integral part of urban renewal for Singapore. Being land-scarce, the en bloc process helps to continuously rejuvenate the cityscape by removing older developments and replacing them with newer and more land efficient ones. Whether the en bloc fever needs to be cooled, I feel that it is best left to market forces. Ultimately, the developers will have to do their sums before they keep chasing each en bloc at higher prices and it is they who have to pay the price if they get their numbers wrong.

Wee Piew
CEO
HG Metal Ltd

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