En Bloc Exchange

What are collective exchanges?

In an en bloc or collective sale for cash, the owners are paid in cash on completion of the sale.

In an en bloc or collective exchange, the owners are given new units in the development to be built on the same site.

Owners can sell their new units when they have the agreements to the new units.

They can sell their new units later.

Therefore en bloc exchanges are a roundabout way of selling en bloc sites for cash.

Depending on the circumstances, the owners would not be constrained to accept a low bid for their site and then be unable to find replacement units at the same locality.

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What is Phang & Co's track record for en bloc exchanges?

We have handled en bloc exchanges involving a single owner of land in Char Yong Garden.

In Eng Kong Green, we acted for the 64 owners of a strata title development. Each owner was given a unit in exchange.