[Singapore] - ENT specialist medical doctor buys entire condo estate en bloc from Kwong Wai Shiu hospital for Sg$26 million

[UltimaOnline]

Read visitor comments below article, some visitors wonder how medical doctors can get so rich as to afford to buy an entire condo estate en bloc.

https://sg.yahoo.com/finance/news/doctor-buys-geylang-condo-26-041442423.html

 

[nayr69sg]

Only 26 million? What kind of en bloc is that?

It's not like buying a football club

 

[laksaboy]

Specialists make a fortune. They are not doctors at your nearby clinic or polyclinic.

 

[Xisiqomelir]

Kwong Wai Shiu Hospital, the owner of Leshan Gardens condominium in Geylang, has sold the freehold property en bloc to an unnamed ear, nose, throat specialist for $26.28 million on a 104-year lease, reported The Business Times.

Limpeh sibeh confused

 

[SalahParking]

Limpeh sibeh confused

very simple lah. same like HDB sells you a flat for 30,60 or 99yrs.

 

[nayr69sg]

Limpeh sibeh confused

Seems like a whole new market liao.

Does this work for everybody?

So say I have an old 30 year old freehold bungalow.

Can I sell a lease to the land on which the bungalow sits (say a 104 year lease) to someone else and then they can build whatever house they want? After 104 years the land ownership reverts to my children?

 

[winnipegjets]

When you have the dough, the bank will want to lend you money. You use OPM to make more money for you. That's why the rich becomes richer and the others poorer.

Join the PAP and you will be rich.

 

[Insider Player]

Seems like a whole new market liao.

Does this work for everybody?

So say I have an old 30 year old freehold bungalow.

Can I sell a lease to the land on which the bungalow sits (say a 104 year lease) to someone else and then they can build whatever house they want? After 104 years the land ownership reverts to my children?

Not sure if individuals can do it but Developers have done it before. Usually it’s 99 year lease not sure why this one is 104 probably to give buffer to redevelop so owners who buy the new units gets a lease not less than 99 years

 

[nayr69sg]

Not sure if individuals can do it but Developers have done it before. Usually it’s 99 year lease not sure why this one is 104 probably to give buffer to redevelop so owners who buy the new units gets a lease not less than 99 years

Kwong Wai Shiu is not a developer.

How about incorporating a business, changing the ownership of the land on your home to the business then do the same and sell 99 year leases.

 

[eatshitndie]

wonder if he's someone i know. stanford grad? parotid gland specialist? if yes, hope he turns it into a free ent clinic for all poor folks in south east asia suffering from some kind of debilitating ent problems.

 

[nayr69sg]

Victor Fan?