KELVIN CHIA PARTNERSHIP
Free Consultation: 15 mins
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Free Consultation: 15 mins
Commercial Real Estate Law in Harbourfront, Singapore, involves complex legal transactions pertaining to office buildings, retail properties, hotels, residential complexes, and more. It covers a broad spectrum of activities including purchases, sales, leasing, zoning permit applications, and landlord-tenant disputes. As one of the prime commercial areas in Singapore, Harbourfront imposes stringent legal protocols in line with national regulations to ensure hassle-free commercial real estate transactions.
If you are involved in any commercial real estate transaction, you may require the assistance of a lawyer to seamlessly navigate through the complex legal landscape. Whether you are buying, selling, or leasing commercial property, dealing with property disputes or infringement issues or even negotiating with tenants, having a seasoned real estate lawyer could ensure compliance with legal regulations, save time, and avoid potential costly mistakes.
Commercial real estate transactions in Harbourfront are governed by Singapore’s Property Law Act and the Conveyancing and Law of Property Act. These laws stipulate the basic principles of property transactions including contract requirements, rights and obligations of stakeholders, lease agreements, and dispute resolution mechanisms. Furthermore, the Urban Planning Authority (URA) sets the zoning guidelines and requirements for any structural developments or modifications. Non-compliance with these laws and guidelines can result in significant penalties.
The Commercial Stamp Duty in Singapore is 1% for the first $180,000, 2% for the next $180,000, and 3% for the remaining amount in all commercial property transactions.
Yes, there are no restrictions on foreigners purchasing commercial property in Singapore including the Harbourfront area.
While it's not mandatory, it's highly advisable to consult with a lawyer to ensure your contracts and clauses adhere to local regulations and to protect your rights as a lessor.
Zoning laws are explicitly stipulated by the Urban Redevelopment Authority (URA). It's important to verify zoning requirements with them or consult a lawyer prior to making any property modifications.
You can seek to resolve disputes through mediation or arbitration. If these do not work, you can take it to the Singapore Courts. Engaging a commercial real estate lawyer may help reach a resolution faster.
Resources such as the Singapore Land Authority (SLA), Urban Redevelopment Authority (URA), and the Singapore Mediation Centre (SMC) can provide invaluable guidance and information related to commercial real estate. Commercial property databases such as SRX Property or PropertyGuru can aid in understanding the local property market. Law firms specializing in Real Estate law, such as Rajah & Tann, WongPartnership, or Allen & Gledhill can provide legal expertise.
If you need legal assistance in commercial real estate transactions, consider engaging a commercial real estate lawyer. While doing so, ensure to gather all relevant documents related to your property, such as contracts, deeds, and letters before your consultation. The lawyer can review your situation and guide you through the legal process to safeguard your interests effectively.