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Friday, May 25, 2012

Shoebox flats 'almost inhuman', says CapitaLand CEO

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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_802992.html

Singapore should curb the increasing trend of so-called shoebox apartments because they are 'almost inhuman', CapitaLand chief executive officer Liew Mun Leong said.

The Government last week said it was concerned that shoebox apartments are mushrooming as private home sales surged to a three-year high with record purchases of units that are smaller than 50 sq m, or 538 sq ft.

"I am dead against shoebox developments," Mr Liew said, in an interview at the downtown Singapore headquarters of South-east Asia's biggest developer. "The Government should intervene. Singapore's land is very precious and you are wasting your scarce resources."

"If you build 200 sq ft, 300 sq ft for a family of two or three, you might as well stay in a box. There needs to be some degree of comfort level."

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