Is Subdivision of Land be Allowed (other than Strata Subdivision)?
The Successful Tenderer may with the prior written approval of JTC and the Authorities and at his own cost and expense, procure the subdivision of the Land and sell sublease assign transfer or otherwise dispose of the subdivided plots to purchasers sub lessees assignees transferees or parties taking under such disposition PROVIDED ALWAYS that
- The Successful Tenderer shall not sell sublease assign transfer or otherwise dispose of any of the subdivided plots of the Land and shall develop each of the subdivided plots of the Land so that the gross floor area to be occupied by the Successful Tenderer thereon shall amount to a minimum of 50% of the gross floor area constructed on each of the subdivided plots by the Successful Tenderer on the Land for the first five (5) years after temporary occupation permit (“TOP”) is obtained for the part of the Development on the subdivided plot;
- In the case of a sublease, the Successful Tenderer shall take all necessary steps to ensure that the sublessee and his assigns and successors-in-title also comply with and not breach or permit to be breached all or any of such obligations covenants terms and conditions which are to be performed and observed by the Successful Tenderer under the terms of these Conditions of Tender, the Technical Conditions of Tender, the Building Agreement and the Lease.
- In the case of a sale assignment transfer or disposition under this Condition, the same shall only be permitted if the purchaser assignee transferee or party taking under such disposition (as the case may be) and his assigns and successors-in-title take on in total the whole of the obligations covenants terms and conditions of the Conditions of Tender, the Technical Conditions of Tender, the Building Agreement and the Lease in respect of the subdivided plot(s) in question.
While every endeavour has been made to ensure that the information provided herein is correct, ALLIANCE FACILITIES MANAGEMENT PTE LTD disclaims liability for any damage or loss that may be caused as a result of any error or omission.
For the Latest Updated Information, Please Visit -