City Development CEO Recommends lengthening ABSD to 7-10 years

[Huatable]

Singapore property: oversupply of flats is the result of government penalties, key developer says

• Sherman Kwek, CEO of City Developments, claims penalties imposed on companies that fail to build and sell within five years have created oversupply
• Singapore has almost 32,000 flats either finished or under construction and the central bank last month warned prices could be threatened
• Kwek recommends lengthening the ABSD timeline to maybe seven or even 10 years so that it reduces the immense pressure on developers and prevents the current supply glut from worsening (while still ensuring that developers do not hoard land for eternity)

https://www.scmp.com/news/asia/sout...e-property-oversupply-flats-result-government

 

[batman1]

Let the Bubble burst !!! Let the Developers go belly-up !!!
Good News for Sinkees !!!

 

[Insider Player]

Developers make money no kpkb
Now never make record profits blame here blame there

 

[shittypore]

Tat will nvr happened, Lee dynasty alone owned only God knows how many properties. How abt tos Cronies around him?

 

[KuanTi01]

Developers make money no kpkb
Now never make record profits blame here blame there

Among the scummiest of scums! Hope they sink in a sea of red ink.

 

[hofmann]

It's his right to lobby for his industry. It's up to the government to resist such pressure and not give in.