Queensway Shopping Centre en bloc attempt faces challenge from shop owners.
SINGAPORE — An attempt to put up Queensway Shopping Centre for an en bloc sale is already facing a challenge, as a group of shop owners at the iconic mall are banding together to put a stop to it.
So far, a petition against the sale has garnered signatures from more than 20 per cent of the shop owners at the mall, known for its variety of sports apparel and equipment shops.
To succeed, an en bloc sale requires at least 80 per cent of the development’s stakeholders to approve of it.
Some residents at the adjoining Queensway Tower, which is included in the en bloc attempt, also told TODAY that they are resistant to a collective sale.
Adapted from Todayonline 1 May 2019