[Sg] - 2nd generation owner refuses to sell Lorong Buangkok land worth Sg$381 million

[UltimaOnline]

Iin the past two decades, the village has started to attract a new — and unwanted — source of attention. Local outlets published reports about the value of the kampong's land in the late 2000s, and soon, property developers and agents were beelining for the estate. Some even camped outside Sng's home in a bid to convince her to sell the inherited land.

A media report from 2007 indicated Sng had been offered 33 million Singapore dollars ($22 million) for the property. A local tour guide told me Sng had received another bid of S$70 million. Experts, meanwhile, say the estate could fetch prices in the low hundreds of millions. A recent government land sale (GLS) about the same size as the kampong had sold for over S$381 million, a property agent named Chuang Kuo Wei told me.

But through all of this, Sng has remained unswayed: It was her father's wish that the estate be kept in the family's name, and she has no intention of selling.


https://www.insider.com/singapore-l...ong-lorong-buangkok-photos-real-estate-2022-3

https://forums.fuckwarezone.com.sg/...ices-in-the-low-hundreds-of-millions.6727050/

 

[Charlie99]

Please do not sell

 

[laksaboy]

If you don't own the land, you own nothing.

Stay strong against those jackals and hyenas. I prefer to call them 'commission whores'.

... property developers and agents were beelining for the estate. Some even camped outside Sng's home in a bid to convince her to sell the inherited land.

In civilized countries, that's stalking and harassment. In Sinkieland, all bets are off since it is not a civilized country.

 

[Charlie99]

She and her descendants should try to honour her father's wish to keep the land, real estate in the family.
I assume that those who live there, are very fortunate.

 

[A Singaporean]

Gahmen can acquire anytime and build roads and apartments for foreigners.

 

[searcher1]

Gahmen can acquire anytime and build roads and apartments for foreigners.

Sng should be glad that the Govt have no interests in her Lands, IF not she can be evicted with a small compensation

 

[Charlie99]

Singapore is one of very few countries that acquire any individual's freehold real property re: whatever Land Acquisition Act.
Forced acquisition at some appraised value, and thereafter, the government can do whatever it desires, even resell at a much higher price.

 

[ZhongGuoWang]

Work a deal with the developer, and get a really good place build for her to stay there after the sale. Win-Win

 

[rushifa666]

Just put bear traps. It will be entertaining.

 

[mahjongking]

keep the land. set up a rent free hawker centre and park
can sell cheap food . only local born sinkees can enter, foreigners fuck off
she will become a local legend

sounds good?

 

[laksaboy]

Singapore is one of very few countries that acquire any individual's freehold real property re: whatever Land Acquisition Act.
Forced acquisition at some appraised value, and thereafter, the government can do whatever it desires, even resell at a much higher price.

Actually there are quite a number of countries that practise an eminent domain land acquisition law.

https://en.wikipedia.org/wiki/Eminent_domain
https://en.wikipedia.org/wiki/Eminent_domain#Singapore

It's just that in Sinkieland, the Constitution is not worth a fuck and doesn't appropriately protect the victims. Compare this with other more civilized countries.

 

[Charlie99]

keep the land. set up a rent free hawker centre and park
can sell cheap food . only local born sinkees can enter, foreigners fuck off
she will become a local legend

sounds good?

I read somewhere that she charges a very modest or reasonable rent, for those residing in the kampung.

 

[eatshitndie]

Singapore is one of very few countries that acquire any individual's freehold real property re: whatever Land Acquisition Act.
Forced acquisition at some appraised value, and thereafter, the government can do whatever it desires, even resell at a much higher price.

not few but many. another glorified phrase for that is “eminent domain”. happens often in the u.s. and in canada too. just that land is sparse and huge in america that few feel the unfair impact from such a policy. but it exists.

 

[Charlie99]

not few but many. another glorified phrase for that is “eminent domain”. happens often in the u.s. and in canada too. just that land is sparse and huge in america that few feel the unfair impact from such a policy. but it exists.

Thank you

 

[eatshitndie]

Thank you

you should know. in canada and europe, it’s legislatively called “sexpropriation”, oops expropriation.

 

[myfoot123]

A media report from 2007 indicated Sng had been offered 33 million Singapore dollars ($22 million) for the property.

The above offered price can buy only one resort home in Sentosa Cove. Whoever offered that price is a robber. That Kampong land easily worth at least half a billion.