Housing developer had paid approximately $200 million in extension charges since the implementation of the Qualifying Certificate (QC) regime. Hence, the recent announced by the Ministry of Law to remove the QC requirement for publicly listed developers with a substantial connection to Singapore is encouraging. Such developers can apply for an exemption from the QC regime based on their place of incorporation and business activity, the nationality of the board of directors and their history and credentials. Do visit the showflat in Midtown Bay.
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