A mid-19th century French word is part of everyday English in Singapore. It refers to the community decision to sell their apartment building in whole to a developer. It is rarely easy. From a group of 50-80 unit owners for a small privately owned building to several hundred in a large complex, there are strict rules on the type of the majority that must agree before the sale goes through.
Decision to purchase older units are often shaped by the potential of going en bloc. The ability to build bigger is the obvious factor. Location, proximity to a MRT station and bus lines, and market sentiment about the neighborhood also factors.
When a sale occurs, it is reported, analyzed, and for those directly involved celebrated! The details on the developer’s breakeven price is calculated. Analysis on the potential to make money naturally follows. For the current owners, with a few exceptions, everyone celebrates! In addition to the immediate financial reward, it is likely they will have access to new units at a discounted price and or have the first choice.
It is hard to imagine a community coming together for anything this absolutely and final. The building will be completely torn down. A newer superstructure will be put in its place. The removal of the old will be total destruction and the replacement brand new.
Even though I rent my apartment, the en bloc discussion comes up; the building is more than forty-five years old. There is a reasonable space around the building. Given some of the luxury buildings close by (on the other side of the street), there is significant potential. As much as it might make sense, I would miss the funky feel of a great apartment if it was not here. Given a choice, I do not know which way I would choose.
An old writer described the old and the new. In the context an en bloc restoration and recreation, it is a worthy reflection; “The glory of God – let it last forever! Let God enjoy his creation!” (Psalm 104.31)
