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"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

RP as a starting bid - not selling price


  • The RP has been set. 
  • The 80% mandate  has been reached . 
  • The SP meeting to update and inform SPs will be held on the 1st July in a tiny room. 
  • The Tender will be opened on 4th July and will run for 6 weeks (to be confirmed)



By the CSCs own admission the RP is attractive enough to draw bidders but not too high as to deter. 
We do not know on what basis this RP was derived - I hope we can see the RLV at the meeting.

The RP should only be  just a starting point, the opening gambit in this game of poker and should not be the selling price the CSC settles for. They are not obliged to sell the estate at the RP (High Court). Fingers crossed that they don't.

Many owners are expecting higher offers than the minimum RP. It is not unreasonable to expect higher given that the psfppr of the previous 3 HUDC collective sales have been very high indeed. Our RP is now looking on the low side.  Do not confuse greed with adjustment of land value according to the market. RLVs do not hold longer than 6 months. 

We have reached an advanced stage in Enbloc Rd 3. Love them or hate them, the CSC are what stands between you and your future.  

4 comments:

  1. Anonymous16 June, 2017

    How did 82.16% become 81.79%?

    Based on your countdown, how do we know the clock starts on 1 June?

    What impact if any should the CAAS restriction have compared the other recent en-bloc sales?

    So we can expect tentatively to know the outcome of the tender in 8 1/2 weeks? See you all on the other side.

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  2. Anonymous16 June, 2017

    The main agenda of the meeting is to brief the SPs on the sales & tender procedure followed by FAQ. Please do not ask irrelevant questions pertaining to round 1 like how they derived the RP etc (this stage is already over). Please give other SPs a chance to ask their questions like when & how they will get their sales proceed, when they need to move out etc. Don't treat the meeting like a fish market. Also it is not time for quarreling & throwing stones at the team. Thank you for your co-operation !

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    Replies
    1. Anonymous18 June, 2017

      SPs should not be restricted in their questions so long as it's regarding enbloc. Quarreling won't resolve anything. There are avenues for conflict resolution. Minorities can resort to the Courts or anybody can complain to regulating bodies like CEA with any proof of Professional misconduct.

      Delete
    2. Anonymous18 June, 2017

      Of course. But stupid & irrelevant questions still have to be passed. Also personal attacks & slanderous statement against the team will have to be recorded. Anti-enblocers may go out full steam to disrupt the meeting & stir up emotions just like the anonymous letters. This is an important meeting and let's all be civil & calm and treat the team & SPs (both majority & minority) with respect.

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