Eng Cheong Tower

Phang & Co acts for the majority owners.

The first ever en bloc sale of a 99-year leasehold.

We applied for and obtained in principle permission from the authorities to 'top up' the tenure to the full 99 years upon an en bloc sale.

Without this permission, leasehold lands with less than 99-year tenure would not have attracted bids in an en bloc sale because developers required assurance of a full 99-year leasehold tenure upon redevelopment.