EC developer was told not to sell units: URA

EC developer was told not to sell units: URA

PROPERTY agents involved in the launch of executive condominium (EC) Forestville were told by the project's developer over the weekend to return cheques people had given them to book units in the development.

The move came after developer Hao Yuan Investment did not get approval from the authorities to sell units in the project, which was launched on Friday.

The Urban Redevelopment Authority (URA) told The Straits Times yesterday that Hao Yuan had not been authorised to sell any of the units in the development located in Woodlands.

"The developer of Forestville was given instructions from Controller of Housing (COH) on Dec 28 not to proceed with sales for the EC project," said the URA spokesman. He did not elaborate on the reasons why Hao Yuan was not given approval.

Despite COH's orders, Hao Yuan went ahead with the launch but issued a "no-sale" instruction to agents. Agents were told not to collect any cheques, and prospective buyers were told that no Option-to-Purchase would be granted, said the firm.

Potential buyers could make only "expressions of interest" which Hao Yuan would honour.

But some said that agents operated normally during the launch and continued to collect cheques for bookings made.

Mr Vincent Ong, 39, had placed a cheque for a four-bedroom unit worth $910,000. "The developer's statement that no bookings of units were made contradicts the process I went through on Friday," he said.

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