# En bloc threshold could fall to 70% for older developments, with tighter safeguards for minority owners

- **Source:** EdgeProp Singapore
- **Published:** 2026-08-04T16:18:25.000Z
- **Author:** Cecilia Chow
- **Original:** https://www.edgeprop.sg/property-news/en-bloc-threshold-falls-70-older-developments-tighter-safeguards-minority-owners
- **Topics:** Private Residential, Government & Policy, Transactions & Deals

## Featured rationale

The lower thresholds could facilitate redevelopment of ageing estates and increase future housing supply, although pricing, market conditions and developer appetite will still determine transaction success.

## AI summary

The Aug 4 Bill proposes lowering collective-sale consent thresholds from 80% to 70% for developments aged 40–59 years and to 65% for older properties.

## Original article

The Ministry of Law has proposed lowering the consent thresholds for older developments to secure a collective sale. The Land Titles (Strata) (Amendment) Bill, tabled in Parliament on Aug 4, proposes lowering the consent threshold from 80% to 70% for developments aged between 40 and 59 years, and to 65% for those aged 60 years and above.

The existing thresholds will remain unchanged for newer projects: 90% for developments below 10 years old and 80% for those aged between 10 and 39 years. The amendments have not yet become law and will be debated in Parliament before being put to a vote.

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The Ministry of Law (MinLaw) says the changes are intended to support the renewal of ageing estates. Singapore's collective sale regime was introduced in 1999, and many developments have since grown significantly older and may require substantial spending on maintenance, repairs and upgrading.

Read also: Longer ABSD remission timelines for developers of large and mega en bloc sites

Government records show that about 20,000 private non-landed residential units are more than 40 years old, compared with over 360,000 units below 40 years.

Over the decades, the share of ageing developments within Singapore's private housing stock has grown, and many of these sites are not used to their fullest potential and could be further intensified, particularly with more MRT lines and amenities built in their neighbourhood, says Kelvin Fong, CEO of PropNex. "Apart from urban renewal, it could potentially help to make better use of scarce land in Singapore via land use intensification."

About 150 developments between 40 and 59 years

Lee Sze Teck, senior director of data analytics at Huttons Asia, estimates that there are about 150 private non-landed developments aged between 40 and 59 years, and fewer than 10 that are at least 60 years old.

About 40% of the older developments are in prime Districts 9, 10 and 11, which could make them more attractive to developers given the limited supply of Government Land Sales (GLS) sites in those locations, says Lee.

Older developments also tend to face mounting maintenance issues involving lifts, water seepage, electrical systems and common areas, Huttons' Lee notes. Rising maintenance costs could require owners to contribute additional funds to replace ageing mechanical and electrical equipment.

Rejuvenating older neighbourhoods

PropNex points to several large-scale developments aged between 40 and 59 years that have made en bloc attempts in the past that have failed:

Read also: Kingsford Group buys Tan Boon Liat Building en bloc for $950 mil

• Braddell View (918 units, completed 1978) - could offer some 2,600 new homes if redeveloped;

• Laguna Park (516 units, completed 1981) - could potentially yield about 1,700 new units;

• Pine Grove (660 units, completed 1984) - may be redeveloped into a new development of over 2,000 new homes.

"A lower consent threshold could give ageing developments - which carry a rising maintenance burden - a shot at collective sale," says Fong.

In addition to the above, other developments that fall between the ages of 40 and 59 include Pandan Valley in District 21, a freehold condominium development with seven residential blocks and a total of 605 residential units, completed in 1978, and is 48 years old this year.

Sherwood Tower and Bukit Timah Plaza were both completed in 1980, which means the project is 46 years old this year. However, the lease started in 1976, which means it has a remaining term of 49 years. Sherwood Tower has two apartment blocks of 14- and 30-storeys with 269 units. The two blocks sit on top of Bukit Timah Plaza, a four-storey shopping centre.

Renewal of commercial, mixed-use developments in CBD, Orchard Road

Real Estate Developers Association of Singapore (REDAS) says the amendments support the rejuvenation of ageing commercial and mixed-use developments. “A more facilitative collective sale framework can encourage the timely renewal of older assets in established precincts such as the CBD and Orchard Road, helping keep Singapore's key commercial districts competitive and vibrant,” says a REDAS spokesperson in a statement.

One potential beneficiary along Orchard Road is Far East Shopping Centre, a 999-year leasehold strata-titled commercial complex with a lease commencing in 1871, built in 1974. It has a five-storey retail podium comprising 216 strata-titled shops, a 10-storey office block with 80 strata-titled office units, and two strata-titled basement parking levels.

Read also: People's Park Centre takes third stab at collective sale with $1.48 bil guide price

The owners mounted a collective sale in July 2023 with a reserve price of $928 million. Glory Property Development, an entity of mining and resources company Bright Ruby Resources, had emerged as the buyer at $908 million in September 2023. However, by April 2024, a circular was sent to owners stating that the en bloc deal had been rescinded. The owners could make another collective sale attempt, given the latest amendments.

Another potential collective sale is People's Park Complex, a 31-storey mixed-use development located in Chinatown, right at the edge of the CBD. It was completed in 1972, and is 54 years old. It has a six-storey podium block with strata shops occupying the first to fifth floors, a multi-storey carpark spanning the third to sixth floors and a 31-storey apartment block on top. The project has a 99-year lease from 1968, which means a remaining lease of 41 years.

The owners of People's Park Complex had attempted a collective sale in 2018 for $1.3 billion, but failed to secure the 80% consent needed to go ahead. URA is also said to be studying the building for conservation as it's regarded as a modernist icon.

However, Marcus Chu, CEO of ERA Singapore, says "realistic price expectations, market conditions and developers' appetite for redevelopment sites" will remain the main determinants of whether a sale succeeds.

Restrictions to safeguard non-consenting owners

Other amendments proposed include strengthening safeguards for non-consenting owners, and expanding the collective sale regime for non-strata-titled private residential developments where the flat owners own long leases in their units, but do not own the underlying land.

For instance, the support required to convene a general meeting to form a collective sale committee will be raised to 35%, measured either by share value or the number of units. Currently, such a meeting can be called with the support of owners holding at least 20% of the share value or 25% of the units in a development.

Collective sale committees will have six months, instead of 12 months, to secure the necessary signatures for the collective sale agreement. "The reduced timeframe will pose a challenge for lawyers and consultants trying to engage owners and secure their signatures, especially in larger developments with more than a few hundred units," says Lee Liat Yeang, senior partner in Dentons Rodyk's Real Estate practice group.

The restriction period following an unsuccessful collective sale attempt will also be extended from two years to three years. During this period, any renewed attempt to form a collective sale committee will be subject to higher requisition thresholds. The change is intended to discourage repeated attempts where there is insufficient support and reduce prolonged pressure on owners opposed to a sale.

In addition, the pool of proceeds that may be awarded to objecting owners will be increased. The cap on additional proceeds awarded for each unit will rise to 0.5% of its sale proceeds or $2,000, whichever is higher, from the present 0.25% or $2,000.

Regime extended to some non-strata developments

Another significant amendment will extend the collective sale framework to certain non-strata-titled private residential developments. In such projects, flat owners may hold long leases over their individual units but do not own the underlying land.

A sale currently requires unanimous agreement between the flat owners and the landowner.

Under the proposed framework, such developments will be allowed to proceed through a majority-consent collective sale, subject to safeguards for the landowner.

"There are very few of such developments today," says Dentons' Lee.

Complementary policy changes

The proposed amendments follow two housing policy changes announced on July 28: longer Additional Buyer's Stamp Duty (ABSD) remission timelines for developers undertaking large collective sale redevelopments, and the removal of the 15-month wait-out period for private homeowners seeking to buy non-subsidised HDB resale flats.

Under the revised ABSD rules, collective sale sites yielding between 700 and 1,399 units will have up to six years to complete and sell all their units, up from 5.5 years. Projects yielding at least 1,400 homes will be given up to seven years, although they must sell at least half their units within six years. The revisions apply to residential land acquired from July 29.

"Collectively, these moves look to be complementary," notes PropNex's Fong. "In our view, they work in the same direction by encouraging the renewal of ageing estates, providing a viable route to redevelopment for older developments, and opening an exit valve for private homeowners who wish to right-size into an HDB resale flat."

What happens next

If the Bill is passed, most amendments will apply to ongoing collective sale exercises where the first signature to the collective sale agreement has not been obtained by the date the new rules take effect. Exercises where the first signature has already been secured will generally remain under the existing framework.

For collective sale committees that are still gathering signatures when the new rules take effect, the Bill provides a transition option: these committees may convene a general meeting to decide whether to terminate their existing collective sale agreement and approve terms for a new one under the enhanced regime. Should they choose to do so, they will have seven months from the commencement date to secure the consent threshold required for the new agreement.

These proposed changes could mark a turning point in the collective sale market, says ERA's Chu. Whether it would herald another en bloc wave remains to be seen. The last collective sale boom was in 2017-2018, when 28 deals worth a combined $8.7 billion were completed in 2017, followed by another 38 deals totalling $10.8 billion in 1H2018, before the government imposed cooling measures in July 2018.

"We could potentially see a few more developments testing the collective sale market, but we are not anticipating an en bloc frenzy," says Fong. "Developers remain disciplined, and pricing will continue to be a key determinant of whether deals materialise."

Check out the latest listings for Pine Grove, Pandan Valley, People's Park Complex properties

## Chinese translation

> Translation model: openai_codex_cli

### 较旧项目 en bloc 门槛或降至 70%，同时加强对少数业主保障

将楼龄 40–59 年项目的同意门槛从 80% 降至 70%，并将 60 年及以上项目降至 65%，会否释放新一轮集体出售浪潮？

律政部已提议降低较旧项目进行集体出售所需的同意门槛。8 月 4 日提交国会的《土地业权（分层地契）（修正）法案》建议，将楼龄介于 40 至 59 年的项目同意门槛从 80% 降至 70%，并将楼龄 60 年及以上项目的门槛降至 65%。

较新项目的现有门槛将保持不变：楼龄低于 10 年的项目为 90%，楼龄介于 10 至 39 年的项目为 80%。修正案尚未成为法律，仍需在国会辩论后付诸表决。

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律政部（MinLaw）表示，这些变更旨在支持老化社区更新。新加坡的集体出售制度于 1999 年推出，此后许多项目楼龄显著增加，可能需要在维护、维修和升级方面投入大量资金。

另读：大型和超大型 en bloc 地块发展商的 ABSD 减免期限延长

政府记录显示，约 20,000 个私人非有地住宅单位楼龄超过 40 年，而楼龄低于 40 年的单位超过 360,000 个。

PropNex 首席执行官 Kelvin Fong 表示，数十年来，新加坡私人住宅存量中老化项目的占比有所上升，许多这类地块未被充分利用，特别是在其社区已有更多地铁线路和配套建成的情况下，仍可进一步提高开发强度。“除了城市更新之外，这也可能有助于通过土地用途强化，更好地利用新加坡稀缺的土地。”

约 150 个项目楼龄介于 40 至 59 年

Huttons Asia 数据分析高级董事 Lee Sze Teck 估计，约有 150 个私人非有地项目楼龄介于 40 至 59 年，另有少于 10 个项目楼龄至少 60 年。

Lee 表示，约 40% 的较旧项目位于核心第 9、10 和 11 区，鉴于这些地区政府售地（GLS）地块供应有限，这可能使它们对发展商更具吸引力。

Huttons 的 Lee 指出，较旧项目也往往面临电梯、渗水、电力系统和公共区域方面日益增加的维护问题。维护成本上升可能要求业主额外出资更换老化的机械与电气设备。

焕新较旧社区

PropNex 指出，若干楼龄介于 40 至 59 年、过去曾尝试 en bloc 但未成功的大型项目包括：

另读：Kingsford Group 以 9.5 亿美元 en bloc 收购 Tan Boon Liat Building

• Braddell View（918 个单位，1978 年完工）- 若重建，可提供约 2,600 套新住宅；

• Laguna Park（516 个单位，1981 年完工）- 可能可提供约 1,700 个新单位；

• Pine Grove（660 个单位，1984 年完工）- 或可重建为拥有超过 2,000 套新住宅的新项目。

Fong 表示：“较低的同意门槛可能让承担日益沉重维护负担的老化项目有机会进行集体出售。”

除上述项目外，楼龄介于 40 至 59 年的其他项目还包括位于第 21 区的 Pandan Valley，这是一个永久地契公寓项目，拥有七栋住宅楼、共 605 个住宅单位，1978 年完工，今年楼龄 48 年。

Sherwood Tower 和 Bukit Timah Plaza 均于 1980 年完工，意味着项目今年楼龄 46 年。不过，其租期始于 1976 年，意味着剩余租期为 49 年。Sherwood Tower 有两栋 14 层和 30 层公寓楼，共 269 个单位。这两栋楼坐落在四层购物中心 Bukit Timah Plaza 之上。

更新 CBD、Orchard Road 的商业和混合用途项目

新加坡房地产发展商公会（REDAS）表示，这些修正案支持老化商业和混合用途项目的焕新。REDAS 发言人在声明中表示：“更便利的集体出售框架可鼓励成熟区域内较旧资产及时更新，例如 CBD 和 Orchard Road，从而帮助新加坡主要商业区保持竞争力与活力。”

Orchard Road 沿线的一个潜在受益者是 Far East Shopping Centre，这是一座 999 年租赁、分层地契商业综合体，租期自 1871 年起，建于 1974 年。它拥有五层零售裙楼，内含 216 间分层地契店铺，一栋 10 层办公楼，内含 80 个分层地契办公单位，以及两层分层地契地下停车层。

另读：People's Park Centre 第三次尝试集体出售，指导价 14.8 亿美元

业主于 2023 年 7 月以 9.28 亿美元保留价发起集体出售。矿业与资源公司 Bright Ruby Resources 旗下实体 Glory Property Development 于 2023 年 9 月以 9.08 亿美元成为买家。然而，到 2024 年 4 月，一份通知已发送给业主，说明 en bloc 交易已被撤销。鉴于最新修正案，业主可能再次尝试集体出售。

另一个潜在集体出售项目是 People's Park Complex，这是一座位于 Chinatown、紧邻 CBD 边缘的 31 层混合用途项目。它于 1972 年完工，楼龄 54 年。项目拥有六层裙楼，第一至第五层为分层店铺，第三至第六层为多层停车场，上方是一栋 31 层公寓楼。该项目租期为自 1968 年起 99 年，意味着剩余租期为 41 年。

People's Park Complex 的业主曾于 2018 年以 13 亿美元尝试集体出售，但未能取得推进所需的 80% 同意。市区重建局据称也在研究将该建筑列为保育对象，因为它被视为现代主义地标。

不过，ERA Singapore 首席执行官 Marcus Chu 表示，“现实的价格预期、市场状况和发展商对重建地块的兴趣”仍将是出售能否成功的主要决定因素。

限制措施以保障不同意出售的业主

其他拟议修正还包括加强对不同意出售业主的保障，以及将集体出售制度扩展至部分非分层地契私人住宅项目，在这些项目中，公寓业主持有其单位的长期租约，但并不拥有底层土地。

例如，召开业主大会以成立集体出售委员会所需的支持门槛将提高至 35%，按份额价值或单位数量计算。目前，只要持有至少 20% 份额价值或 25% 单位数量的业主支持，即可召开此类会议。

集体出售委员会将有六个月时间，而非 12 个月，来取得集体出售协议所需签名。Dentons Rodyk 房地产业务组高级合伙人 Lee Liat Yeang 表示：“缩短后的时限将对试图接触业主并取得签名的律师和顾问构成挑战，尤其是在拥有数百个以上单位的大型项目中。”

集体出售尝试失败后的限制期也将从两年延长至三年。在此期间，任何重新尝试成立集体出售委员会的行动都将受到更高申请门槛约束。该变更旨在阻止在支持不足情况下反复尝试，并减少反对出售业主长期承受的压力。

此外，可判给反对业主的收益池将扩大。每个单位可获判的额外收益上限将从目前的其出售收益 0.25% 或 2,000 美元（以较高者为准），提高至其出售收益 0.5% 或 2,000 美元（以较高者为准）。

制度扩展至部分非分层项目

另一项重要修正将把集体出售框架扩展至特定非分层地契私人住宅项目。在这类项目中，公寓业主可能持有其个别单位的长期租约，但不拥有底层土地。

目前，出售需要公寓业主和土地所有者一致同意。

在拟议框架下，此类项目将可通过多数同意的集体出售程序推进，但须设有保障土地所有者的措施。

Dentons 的 Lee 表示：“如今这类项目非常少。”

配套政策调整

拟议修正案紧随 7 月 28 日宣布的两项住房政策调整：延长发展商进行大型集体出售重建项目的额外买方印花税/ABSD 减免期限，以及取消私人屋主购买非津贴 HDB 转售组屋时需遵守的 15 个月等候期。

根据修订后的 ABSD 规则，可提供 700 至 1,399 个单位的集体出售地块，将有最多六年时间完成并售出所有单位，高于此前的 5.5 年。可提供至少 1,400 套住宅的项目将获得最多七年时间，不过必须在六年内售出至少一半单位。修订适用于自 7 月 29 日起收购的住宅土地。

PropNex 的 Fong 指出：“整体而言，这些举措看起来是互补的。我们认为，它们朝着同一方向发挥作用，即鼓励老化社区更新，为较旧项目提供可行的重建路径，并为希望调整居住规模、转购 HDB 转售组屋的私人屋主打开一个退出阀门。”

接下来会怎样

如果法案通过，大多数修正将适用于正在进行、且在新规则生效日期前尚未取得集体出售协议第一份签名的集体出售活动。已取得第一份签名的活动通常仍将适用现有框架。

对于新规则生效时仍在收集签名的集体出售委员会，法案提供一个过渡选项：这些委员会可召开业主大会，决定是否终止现有集体出售协议，并根据强化后的制度批准新协议条款。若选择这样做，它们将自生效日起有七个月时间取得新协议所需的同意门槛。

ERA 的 Chu 表示，这些拟议变更可能标志着集体出售市场的转折点。它是否会预示另一轮 en bloc 浪潮仍有待观察。上一轮集体出售热潮出现在 2017-2018 年，2017 年完成 28 宗交易，总值 87 亿美元；随后 2018 年上半年又完成 38 宗交易，总额达 108 亿美元，之后政府于 2018 年 7 月实施降温措施。

Fong 表示：“我们可能会看到多几个项目试探集体出售市场，但我们并不预期会出现 en bloc 狂热。发展商仍保持纪律，定价将继续是交易能否实现的关键决定因素。”

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