Friday, December 9, 2011

ABSD: Do you know that it applies to Developers too?

Reference: "New terms may hit large collective sales" - The Business Times

To put things in perspective, if a developer buys a residential site for $200 million and is unable to meet the five-year limit to complete building the new residential project on the site and selling all the units, it will have to pay an additional $20 million in ABSD.

And it looks like a much longer wait for "en-bloc aspirants" such as Pine Grove, Laguna Park, Pearlbank Apartments etc...



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