Ivory Heights fails in bid to go en bloc

Ivory Heights' failed attempt could be a harbinger of what is to come for other mega sites undergoing the collective sale process, analysts say.
Ivory Heights' failed attempt could be a harbinger of what is to come for other mega sites undergoing the collective sale process, analysts say.PHOTO: LIANHE ZAOBAO

Ivory Heights, a 654-unit privatised HUDC estate in Jurong East, has failed to secure the requisite 80 per cent approval rate by yesterday's deadline, making it the first mega site to fail to get the mandate to launch a public tender, analysts say.

They pointed to factors such as the July 6 cooling measures as well as the postponement of the Kuala Lumpur-Singapore High Speed Rail (HSR) project, which had been touted as a unique selling point.

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A version of this article appeared in the print edition of The Straits Times on October 01, 2018, with the headline 'Ivory Heights fails in bid to go en bloc'. Subscribe