It will offer legal and valuation advice to those impacted by the new sale regime.
The government will create a support centre for minority property owners affected by the new compulsory sale regime, Development Secretary Bernadette Linn announced.
Linn said that the compulsory sale regime is designed to facilitate the redevelopment of aging private buildings.
The new centre will offer legal and independent valuation advice to minority owners, addressing concerns related to the compulsory sale process.
Additionally, Linn said that the Urban Renewal Authority will be tasked with promoting joint sales among owners interested in redeveloping their properties collectively, thus bypassing the need for developer intervention.
In a separate development, the secretary also provided details on the new development strategy for the Northern Metropolis.
Under this new concept, a large area within the Northern Metropolis will be tendered to a consortium, which will handle development and infrastructure costs, reducing the government’s financial burden and speeding up the process.
“We do not have to use the public coffers, use public funding to do the site formation and other infrastructure on our own,” she said.
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