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Normanton Park hit with ‘no-sale licence’

With close to 1,900 units, the new development on the former Normanton Park en bloc site was going to be one of the biggest residential projects to be launched in 2019. It would be second only to the 2,203-unit Treasure at Tampines – the biggest private condo in Singapore to date – which was launched last month.

However, the new launch at Normanton Park is likely to be delayed. In January 2019, the Controller of Housing (COH) slapped the developer Kingsford Huray Development with a no-sale licence “as the company had failed to meet the requirements for a sale licence”, says an Urban Redevelopment Authority (URA) spokesperson.

Developers issued with a no-sale licence can only commence construction but are not allowed to sell any units before Temporary Occupation Permit (TOP) is obtained.

A “sale licence”, on the other hand, allows the developer to sell units in a development once Building Plan Approval is given, says URA on its website.

– April 15, 2019

Read Full Article at https://www.edgeprop.sg/property-news/normanton-park-hit-%E2%80%98no-sale-licence%E2%80%99-%E2%80%93-what-it-means-developer

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