The Singapore real estate developing market received a setback recently with two unfinished projects getting declared as indefinitely stalled. One of the projects is a freehold condo comprising of 70 apartments located at Laurel Tree which is in the Hillview Terrace estate. The other, a mixed development project which includes 96 apartment units and 17 commercial units in Joo Chiat, is known as the Sycamore Tree.
Both projects were being developed under Tan Hock Keng and were to receive temporary occupation permits by December 2016. However, construction has not moved ahead since the end of 2018 leading the controller of Housing at the Urban Redevelopment Authority (URA) to examine the funds of the said projects.