{"id":39667,"date":"2017-01-05T10:08:26","date_gmt":"2017-01-05T03:08:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-court-gives-green-light-to-shunfu-ville-sale\/"},"modified":"2017-01-05T10:15:26","modified_gmt":"2017-01-05T03:15:26","slug":"high-court-gives-green-light-to-shunfu-ville-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-court-gives-green-light-to-shunfu-ville-sale\/","title":{"rendered":"High Court gives green light to Shunfu Ville sale"},"content":{"rendered":"


\nThe collective sale of the HUDC estate faced a major hurdle last year after five owners objected to its sale. (Photo: JLL)
\nThe High Court on Wednesday (4 January) approved the collective sale of Shunfu Ville to Qingjian Realty, reported The Straits Times.
\nWhile no written judgment was issued, the two objecting owners were given 30 days to file an appeal, which could be based on a point of law, or a combination of facts and law, said Kenneth Szeto, a partner at law firm Colin Ng and Partners.
\nThe en bloc sale of the 358-unit privatised HUDC estate to Qingjian Realty faced a major hurdle in October last year, after five owners objected to its sale. It was reported that three of them eventually withdrew their objections.
\nWith two owners still objecting the sale, the property developer had to obtain the High Court\u2019s approval for the deal to go through, even though the sale committee had achieved the requisite percentage of owners\u2019 approval. About 82 percent of Shunfu Ville owners had consented to the sale.
\nQingjian\u2019s Managing Director, Li Jun, said the company was \u201cvery happy\u201d with the High Court\u2019s approval. In fact, it is already examining plans and designs for the estate, even though it has to wait 30 days in the event of an appeal, he said.
\nMeanwhile, Lee Liat Yeang, senior partner in the real estate practice group at Dentons Rodyk and Davidson and a representative for Qingjian, said: \u201cThis is an important jab of confidence in the collective sale market, which has not seen much success in the past few years.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…High Court gives green light to Shunfu Ville sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The collective sale of the HUDC estate faced a major hurdle last year after five...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-39667","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ajN","jetpack-related-posts":[{"id":54401,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shunfu-ville-sale-finally-goes-through\/","url_meta":{"origin":39667,"position":0},"title":"Shunfu Ville sale finally goes through","date":"May 11, 2017","format":false,"excerpt":"\r The court dismissed an appeal lodged by some of the owners who objected to the sale. The collective sale of Shunfu Ville has finally received the green light, after the Court of Appeal dismissed the appeal lodged by objectors, reported the Straits Times. The $638 million sale of the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shunfu-ville-sale-dispute-could-drag-on-prove-costly-for-owners\/","url_meta":{"origin":39667,"position":1},"title":"Shunfu Ville sale dispute could drag on, prove costly for owners","date":"October 13, 2016","format":false,"excerpt":"\r The ongoing dispute over the collective sale could drag on for months and cost the owners up to $400,000 in legal fees. (Photo: JLL) The sale of Shunfu Ville, the largest en bloc deal since 2007, has hit a brick wall. This week, several newspapers reported that five households\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lakepoint-condo-eyeing-en-bloc-sale-site-bigger-than-shunfu-ville\/","url_meta":{"origin":39667,"position":2},"title":"Lakepoint condo eyeing en bloc sale, site bigger than Shunfu Ville","date":"July 26, 2017","format":false,"excerpt":"\r View of the Lakepoint condominium at Lakepoint Drive. (Photo: Jianwei Huang) Owners of the ageing Lakepoint condominium near Lakeside MRT station are believed to be exploring opportunities to go en bloc in the next two years, or even earlier, according to some residents with knowledge of the matter. PropertyGuru\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56008,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-may-2017\/","url_meta":{"origin":39667,"position":3},"title":"News Roundup (May 2017)","date":"May 26, 2017","format":false,"excerpt":"\r Our top Singapore property stories. Rare sea-facing landed homes to launch in Sembawang A new freehold strata landed housing development located next to Sembawang Park at the end of Sembawang Road is expected to go on sale soon. Called Watercove, the 80-unit project is being developed by Bukit Sembawang\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/05\/Shunfu-Ville-1024x599.jpg?fit=1024%2C599&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raintree-gardens-may-be-up-for-collective-sale\/","url_meta":{"origin":39667,"position":4},"title":"Raintree Gardens may be up for collective sale","date":"August 25, 2016","format":false,"excerpt":"\r The collective sale attempt of Raintree Gardens follows the $638 million sale of Shunfu Ville (pictured) in May. Owners of a privatised former HUDC estate have secured the minimum consent level to put the 175-unit property up for en bloc sale, reported The Straits Times. With just over 70\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36196,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-projects-to-go-en-bloc-in-2017\/","url_meta":{"origin":39667,"position":5},"title":"More projects to go en bloc in 2017","date":"November 28, 2016","format":false,"excerpt":"\r Raintree Gardens was one of the successful en bloc properties this year. Market watchers expect more residential properties to go en bloc in 2017, following the success of three collective sales this year, reported The Business Times. \u201cNext year, I expect more \u2014 \u00a0and a wider range of \u2014\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39667"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=39667"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=39667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=39667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=39667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}