The showroom for the Forestville Executive Condominium (EC) will be closed until further notice for maintenance, but the developer for the project said this is not linked to it being stopped from selling the units by the Urban Redevelopment Authority (URA).
A spokesman for Hao Yuan Investment said yesterday that once the showroom reopens, interested homeowners can still view the units but they will be unable to purchase them.
The Business Times understands that there were concerns over the size of the penthouses at the 653-unit project, which will have 29 penthouses ranging from 1,550 sq ft to 2,756 sq ft.
The spokesman said the showroom was closed for "general maintenance work", but declined to give more details.
While showrooms generally stay open even during holidays, analysts said their closure does happen.
Hao Yuan was stopped from selling the units at Forestville on Friday, following an investigation by the URA.
"Based on our preliminary investigation, we found that the developer has launched the project with some proposed changes to the development plans, which had not been approved yet. This is not allowed," a spokesman for URA said on Monday.
Having an approved development plan is one of the requirements to get a sales licence from the URA, which allows the construction of a project to start and subsequently for the units to be sold.
Hao Yuan went ahead with the launch on Friday by not booking sales, but getting potential buyers to sign a non-binding Expression of Interest instead. It said it had told agents not to collect any cheques and that those who did so were told to return them.
In a separate statement issued yesterday, Hao Yuan said it "acknowledges that there were some technical issues with regard to Forestville Executive Condominium. The architects are working closely with the relevant authorities to resolve the said technical issues as expeditiously as possible".
"We regret and apologise unreservedly for any inconvenience caused to all concerned parties," it added.
Work has not started for Forestville.
Source: Business Times –3 January 2013
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