This is it fellas! We did (a big part of) it! We have achieved the required 80% consensus for us to put Loyang Valley up for en bloc! This is a huge, huge moment in a multi-year effort that began way back in 2018, when we first launched an unsuccessful bid to get to 80%. We learned a lot from that episode, and relaunched our efforts in November of 2021, and I am super happy to announce that we are officially a go for public tender.
Back in July, I wrote about our last update. At the time, we were sitting at 76%, and it took a herculean effort to eventually get to our 80% target. We had actually hit the target sometime in September, but I wanted to wait till the conclusion of the owner’s meeting to announce this piece of exciting news.
Owner’s Meeting – 7 October 2022
We’ve just concluded our Owner’s Meeting, held 7th October via Zoom, where our Marketing Agent Huttons very patiently went through what we can expect in the coming months, as we launch for tender and beyond.
Following the conclusion of the Owner’s Meeting, it will take roughly 2 weeks to launch the public tender, where we invite developers to bid for this amazing piece of land that I have called home for the last 7 years.
From then on, if things were to proceed smoothly, it will be a whirlwind Christmas, and a crazy first half to 2023, as we look to finalise the sale of our estate, and look for our new home sweet home. This also presents a bit of fear and uncertainty on our part, as this will be happening in a very volatile period of the economy, where it seems like the world’s wealth is dictated by one Jerome Powell.
Get it together, JP! Don’t fuck this up more than you already have!
What’s next in the En Bloc process?
So, you may ask, what’s next? Well, in this very detailed infographic from EdgeProp, you can see that we’re barely over halfway through the process (at step 7 of a 12 step process).
This is it for now. Shall update again when the news breaks in the media. Wish us luck!