In a bid to encourage housing developers who are deemed foreign companies to build and sell residential apartments in a timely fashion and to prevent hoarding and speculation, Qualifying Certificate (QC) scheme was implemented. To better align the QC regime, Ministry of Law announced that publicly listed housing developer with substantial connection to Singapore can apply for exemption. They will be assessed based on a number of criteria and if approval is granted, they will not be required to complete the development within 5 years and dispose all units within 2 years.
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