Tag Archives: Government

Majority of Pearls Centre owners, tenants accept government compensation

The majority of owners and tenants at Pearls Centre have accepted the government’s compensation for the acquisition of the building.

Authorities are taking possession of the centre to make way for the upcoming Thomson MRT line.

On March 27, the government had announced a S$450-million compensation package for the acquisition of Pearls Centre.

The Singapore Land Authority (SLA) said 241 out of 243 owners have accepted the package, which comprises statutory compensation and an ex-gratia payment.

In response to the requests made by the two remaining owners, the SLA has extended the time given for them to respond.

As for the tenants, 174 out of 175 eligible tenants have accepted the government’s offer of ex-gratia payment.

SLA said it will be prepared to extend the time given for the one tenant who has yet to respond, if he has a valid reason.

There are also no longer any appeals from the Pearls Centre owners and tenants.

Owners and eligible tenants had the legal right to file appeals with 14 days from the date of the Collector’s Award on 27 March 2013, if they were dissatisfied with the statutory compensation offered.

SLA said two appeals were filed but were subsequently withdrawn on 24 April 2013.

The units at Pearls Centre will be handed over to the state in August 2014.

Pearls Centre was gazetted for compulsory acquisition on 29 August 2012 for the construction of the Thomson MRT line and comprehensive redevelopment.

On 27 March 2013, the government informed eligible owners and tenants of the statutory compensation and ex-gratia payment amounts for the compulsory acquisition of Pearls Centre.

On 8 April 2013, in response to feedback, the government increased the ex-gratia payment amounts to further mitigate the financial impact of the acquisition exercise.

SLA will continue to stay in touch with affected owners and tenants and provide the necessary assistance.

Source : CNA – 25 Apr 2013


PM Lee sorry about housing issues

Singapore Prime Minister Lee Hsien Loong said the government could have moved more quickly and efficiently to address the shortfalls in the country’s housing and transport industries.

The Prime Minister also acknowledged that things do not always go as planned and there might be side effects from the government’s decisions.

The government has had to “watch the wind and the tide and we have to pick our chances when we can and when the wind comes, put up your sail and go with it,” said PM Lee, likening the country to a “small boat on a stormy ocean (and) not a nuclear (powered) aircraft carrier.”

He also addressed the mistakes made by his government and said that he is sorry for them. He noted that his team is doing their best to address the problems.

“We can’t go exactly on a straight line, from point A to point B, and have everything just perfect in every spot. There will be detours, sidetracks, side effects from our decisions,” he said.

The examples cited included the increasing influx of foreign workers, the flooding of Orchard Road, overcrowding on MRT trains and skyrocketing home prices.

“These are real problems. We will tackle them,” he said.

“When these problems vex you or disturb you or upset your lives, please bear with us. We’re trying our best on your behalf. And if we didn’t quite get it right, I’m sorry but we will try and do better the next time.”

Source : PropertyGuru – 4 May 2011