Property developer City Developments’ chairman Kwek Leng Beng has expressed hope that the government this year will tweak or even remove rules which bind developers with foreign stakeholders to strict timelines to complete and sell a residential development.
The rules that govern "qualifying certificates" put the heat on developers which purchase private land to push projects out quickly, depleting their land bank, Kwek said at the developers' earnings briefing. (link.reuters.com/vad37v)
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by the Singapore newsroom; Editing by Anand Basu)