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.
Already a subscriber? Log in
Dive deeper at $0.99/month
Want more exclusives, sharp insights into what's happening at home and abroad? Subscribe to stay informed.
ST One Digital Package - Monthly
$9.90 $0.99/month
No contract
$0.99/month for the first 3 months, $9.90/month thereafter. T&Cs apply.
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
2-week e-paper archive so you never miss out on any topic that matters to you