Implementation of the approved projects is subject to the fulfillment of the following two conditions precedent:
- Acceptance of URA’s conditional offers and the signing of Sale and Purchase Agreements by the owners of not less than 80% of the undivided shares of the lots in the site under application within a period of not more than 90 days of the issue of the URA’s conditional offers; and
- Within one year of the issue of the URA’s conditional offers, the granting of authorization by the Secretary for Development for the URA to implement a development project under Section 24 of the URAO for the site under application, with no appeals received upon the expiry of the appeal period, or the dismissal of all appeal(s), if any.
If the above conditions precedent have been fulfilled, the URA notifies the owners in writing to complete the relevant Sale and Purchase Agreement within one month after the date of fulfillment of all conditions.
If any of the two conditions precedent above cannot be met, the URA will not proceed any further with the approved project and will cancel any Sale and Purchase Agreements already signed with any owners.