Daily Archives: 21 Oct 2009

Give us the same quality upgrading as other blocks in the area

THE article, “Which floor is the lift on?” (Oct 12), highlighted just one problem with the lift upgrading going in the blocks mentioned.

When the lift upgrading in these blocks in Bedok North was announced, many of us were happy and thought it would be similar to the lift upgrading at Block 111, also located in the vicinity.

However, our elation was short-lived. As the works progressed, we realised that the upgrading in our block was not going to be anywhere as good and well thought out as that of Block 111 – apparently due to cost-cutting.

The lift landing areas for the new lifts get very slippery after rain and people standing in these areas cannot avoid getting wet during a heavy downpour.

Furthermore, people at the lift landing areas can peer into the balconies of some flats, giving those units no privacy. Robbers would also have easy access to some flats.

I hope changes can be made so that the lift upgrading in our block can be safe in all respects as that at Block 111, Fengshan in Bedok North.

Manuel Nathan

Source : Straits Times – 21 Oct 2009

Roxy-Pacific to buy Dragon Mansion in en bloc deal

ROXY-PACIFIC Holdings has signed an agreement to buy Dragon Mansion for $100.8 million via a collective sale – some 16 per cent below the owners’ previous asking price of $120 million when the property was first put up for sale in July.

However, the deal is conditional upon obtaining agreement from an 80 per cent majority of the owners on the purchase price. BT understands that a fresh round of agreements have to be obtained as the price offered by Roxy-Pacific is below the owners’ reserve price in the collective sale agreement.

When the tender for the collective sale of Dragon Mansion was launched in July, it marked the first collective sale offering of the year. If Roxy-Pacific buys the freehold site for $100.8 million, it will be paying $863 per square foot per plot ratio (psf ppr) including an estimated development charge of about $400,000. The owners’ original asking price, on the other hand, translated to about $1,020 psf ppr including the development charge.

The site has a land area of about 42,000 sq ft and it is designated for residential use with a plot ratio of 2.8.

Roxy-Pacific chief executive Teo Hong Lim said that the company inked the deal to buy the site as he ‘found the price reasonable’. Continue reading