Privatisation of HUDC estates

Privatisation of HUDC estates

SINGAPORE - The privatisation of HUDC estates began in 1995 as part of the Government's effort to meet the rising aspirations of Singaporeans to own private housing.

It also enables owners to have better control over the management and maintenance of their estate.

There were a total of 18 HUDC estates islandwide, with 7,731 units. Including the HUDC estate at Hougang Avenue 2, 15 have been privatised so far.

For the remaining three, Hougang Avenue 7 and Potong Pasir have obtained the needed 75 per cent mandate from residents and are currently undergoing privatisation.

Braddell View (above) is currently garnering support for privatisation.

The 168-unit Amberville estate in Marine Parade was the first HUDC estate to go en bloc in June 2006 and was sold for $183 million.

Five of the 18 HUDC estates have been sold collectively so far.

This article was first published on May 31, 2014.
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