Monthly Archives: August 2009

More lights up at Iluma

Posted on 15 Aug 2009 | Comments Off on More lights up at Iluma

New Bugis mall is 90% leased and is seeing more shoppers

ILUMA may not have opened its doors with a bang, but it has been working to fill space and draw crowds since. The new mall in Victoria Street is now 90 per cent occupied and more shoppers are making their way there, says its management.

Traffic has ‘definitely improved’ in the past few months, says Han Minli, business development director at Jack Investment, which owns and manages Iluma.

Iluma entered the mall scene in March as Filmgarde Cineplex began operations. Retailers gradually opened for business in the following months. But what seemed to stand out in the mall’s early days was empty space and a lack of crowds, going by reports. Continue reading →

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Posted in Office / Retail / Industrial

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The difference

Posted on 15 Aug 2009 | Comments Off on The difference

‘Hong Kong protects minority rights while, in Singapore, money largely decides the fate of a collective sale.’

MR AUGUSTINE CHEAH: ‘As Ms Tan Hui Yee pointed out on Monday (’En bloc debate, HK style’), the key difference between Hong Kong and Singapore regarding collective property sales is that Hong Kong protects minority rights while, in Singapore, money largely decides the fate of a collective sale. One gets far more home ownership security in public housing than in expensive private housing. With more Singaporeans moving from public housing into condos, the deficiency in our collective sale laws must be addressed properly as it will affect a larger number of people in time to come. The authorities such as the Law Ministry and the Urban Redevelopment Authority have received many suggestions over the past two years, but official replies have been few. Certainly, we have not seen any changes. To proponents of the comparatively liberal collective sale laws who argue that these laws are no different from compulsory government acquisitions of the past, Ms Tan’s explanation nails the difference neatly: Private developers make a profit at the expense of someone’s home in collective sales, while government acquisition is a sacrifice made for the public good.’

Source : Straits Times – 15 Aug 2009

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Posted in En-bloc / Collective Sales

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