The Big Balls Daily

Tampines has been dubbed as the "Shenton Way of the East", and it would be hard to refute such a statement as Tampines regional centre has proven itself to be one of the major commercial hubs outside the CBD area. So there lies Tampines Court, a privatised HUDC estate that is approximately 10-15 minutes walking distance away from 2 MRT stations, from schools and from Tampines central itself. The easy access to such amenities makes Tampines Court a prey to big developers, and as expected, the estate was up for an 'en-bloc' sale shortly after being privatised.

The estate was sold for $405 million by way of collective sale in 2007 (see http://www.sghousing.com/2007/03/28/tampines-court-being-sold-for-405m-sources/), however in light of recent court proceedings, it seems unlikely that the deal would go through afterall. Yes, although majority of the residents felt that they should go ahead with the sale, some douchebags, along with the instigation of an 'angmoh' lawyer (mere hearsay), decided that they have too much money in their bank accounts, and thus filed their objections at the STB. Mediation led to nowhere, so to trial we go. How timely it is, the developer decides to f**k us on the deal and refused to extend the time in the Sale and Purchase agreement. Sounds pretty much like a Arcos v Ronaasen case where the buyer was entitled to exercise his right of termination of the agreement due to the breach, even though the main reason was to escape from this bad bargain.

Along with many others, the main reason why I am so concerned with the progress of the sale, is due to the fact that we are highly dependant on the sale proceeds of this sale. Many of the residents have already purchased new homes and they will need the proceeds to complete the sale. Whereas SOME residents are in need of the proceeds to pay off their tuition fees.

So Whats the deal with the minority group. I do agree that there may be some sentimental value attached to their homes, and the location is uncomparable. But all these are not relevant considerations and there is no cause of action to start with. Nonethless, the 'delay-tactic' is surpisingly working to their favour as the STB had dismiss the application to bring foward the date of hearing. So with the dateline of completion just 8 days away, the collective sale of Tampines Court lies in peril, and if the deal falls through, i may just kick kenny and kurt's asses.