Welcome to this website, which is dedicated to the collective sale of Gilstead Court, a prime residential site in District 11 of Singapore.
Most of the information has already been published in the Investment Brief for Developers, which has been widely circulated and well received. But there is some new material not found in the Brief.
For instance, in the Collective Sale page, we share with you the result of our analysis of the root problems in some of the unfortunate collective sale cases that have surfaced from time to time, including the most recent one at Harbour View Gardens, not to mention the notorious Horizon Tower case. We show you that our collective sale is free from the problems that beset these cases. We also show you that our collective sale process is designed to give the bona fide purchasers of our estate the greatest degree of certainty that any collective sale can give them.
A few developers have asked to see the URA Grant of Provisional Planning Permission allowing a redevelopment to the maximum permitted without development charge liability. This is now accessible through the Site page.
We also take the opportunity to introduce ourselves. See About Us.
Level playing field: equality in dissemination of information
Above all, the website helps us to implement our commitment to conducting a transparent tender. First, it helps us to implement the principle of equality in the dissemination of information. As stated in our Investment Brief for Developers:
• No material information is given to anyone which is not given to all others, and at the same time.
• Any amendments to the terms and conditions must be made known to all, and at the same time.
The website is an ideal tool for all this to be done. We intend to make the best use of it for this purpose.
Secondly, the principle of transparency and equality requires that:
• All bidders must bid to the same set of terms and conditions.
• All bids must be at fixed sums.
• No deviations, conditions, or qualifications are allowed to be attached to any bid.
The last item might pose difficulties to people who have a good reason to want to qualify our Terms and Conditions in some way. They are not allowed to do so in the bid they submit, but they are allowed an opportunity to seek to amend the Terms and Conditions before they submit their tender. If their suggestions are accepted, appropriate amendments will be made to the Terms and Conditions and the Amendments are then made known to everyone in the Amendments page of this website.
In this way we try to reconcile the need to observe the strict transparency requirements of our tender and the bona fide desire of potential bidders to see changes in the Terms and Conditions. The detailed procedures are found in the Enquiries, Amendments, and FAQs pages of this website.