Hoo boy, not everyone is happy with the upcoming high-speed rail link between Singapore and Kuala Lumpur.
As if Jurong Country Club members aren’t already displeased with the fact that the train terminal will be taking over their digs, they’re now even madder with the amount the Government is offering to acquire the site.
The Straits Times reports that the Singapore Land Authority (SLA) awarded a compensation amount of $89.9 million to take over Jurong Country Club. The amount however is a helluva lot lesser than what the country club members expected: $168 million.
In their defense, SLA stated that the amount they offered was the market value of the land — a valuation determined by private valuers appointed by them. It took into account improvements made to the property as well as the remaining tenure of the land.
Jurong Country Club however insists that their $168 million claim was the legit one, based on the valuation by property agent Knight Frank. Reportedly, they’re planning to lodge an appeal as well to get a higher compensation amount.
The government is planning to redevelop the 67-hectare site into a mixed development quarter of the neighbourhood, complete with offices, hotels and other amenities. Oh, and the Kuala Lumpur-Singapore High Speed Rail of course.
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