Complete Property Market Updates of Singapore

June 11, 2008

Allgreen to contest appeal related to Regent Garden

Filed under: Developer News,General — Propertymarketupdates @ 2:06 am

Allgreen Properties Limited said it would ‘vigorously contest’ the notices of appeal related to its Regent Garden enbloc purchase that was served to the property developer on Friday.

‘Allgreen was served today with notices of appeal. This appeal is curious given that the sale and purchase of Regent Garden was completed earlier today. Allgreen intends to vigorously contest the appeal, and all claims and allegations made by the appellants,’ the developer said.

On April 16, 2008, Allgreen successfully obtained a High Court order for the enbloc deal for the 31-unit West Coast Road condominium, to go through.

The latest appeal is not expected to have any material impact on Allgreen’s earnings per share and net tangible assets per share for fiscal 2008. — BT newsroom

Source : Business Times – 16 May 2008


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