You mean there is a single individual who receives the bulk of sales proceed? Isn't this blatant corruption.
Nonetheless, I believe Singapore is smart to sell rubbish-dump land to foreigners at obscene prices. What an unconventional way to boost our state coffers. There are rumours going around that these rubbish-dump land sales is a haven for money laundering, especially the Indon-Chinese & PRCs.
Firstly welcome.
Tying the sale of PR rights with sale of property carries a big premium. A proper tender exercise should have be held so that the state receives it's fair share and not an individual aligned to the PAP. Someone has already poste the failure to tender.