Daily Archives: 3 Nov 2009

Allgreen profits surge to $74m

Posted on 3 Nov 2009 | Comments Off on Allgreen profits surge to $74m

Allgreen expects its financial performance this year to be better than last year’s, as reflected in the overall property sector.

ALLGREEN Properties has joined the growing list of developers to post quarterly earnings, buoyed by the continuing residential property boom.

Net profit for the quarter ended Sept 30 surged 137.27 per cent to $74 million, primarily fuelled by a higher contribution from Allgreen’s property development segment.

Revenue rose 158.6 per cent to $293.1 million – up from $113.4 million for the same period a year earlier – chiefly as a result of sales at its new project launches.

These included One Devonshire in Devonshire Road, a 152-unit freehold condo that was over 95 per cent sold within two weeks of its launch in June.

Sales of the developer’s 235-unit Viva condominium in Suffolk Walk, launched in August, also contributed to the buoyant revenue. Continue reading →

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HDB informed residents of void deck conversion

Posted on 3 Nov 2009 | Comments Off on HDB informed residents of void deck conversion

I THANK Ms Elsie Tay for her letter, ‘Residents not told’ (Oct 16). Void decks are part of the common property owned by HDB. They are generally used for social and community facilities, such as childcare centre, residents’ committee centre, senior activity centre or kidney dialysis centre, for the benefit of the community.

To meet the evolving needs of the community, facilities like the new childcare centre at Block 339 Clementi Avenue 5 are added after consulting the authorities and local grassroots organisations.

Residents were told of the construction of the facilities via notices posted at the lift lobbies before the works were carried out.

The purpose of HDB’s polling exercises for the Lift Upgrading Programme (LUP) is to obtain residents’ consensus on the co-funding of upgrading cost by them. In the case of construction of new social or community facilities at void decks, no co-payment is required of residents. There is also no impact on service and conservancy charges due to the removal of void deck space of a block, because it is only a small part of the overall common property.

Ng Leong Keng
Deputy Director (Policy & Planning)
Housing & Development Board

Source : Straits Times – 3 Nov 2009

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