Lee Liat Yeang is a senior partner in Dentons Rodyk's Real Estate practice.
Liat Yeang started his legal practice with the firm in 1993. Since then, Liat Yeang has been advising in all aspects of corporate real estate work including sales and purchase, project development work for developers and real estate financing. He acts for many real estate developers and real estate investment companies in numerous real estate transactions, whether they are by sale of land or by sale of shares in the real estate holding company.
For nearly two decades, Liat Yeang has handled numerous collective sales projects, acting for the vendors in the collective sale (including attendance at the hearings of the applications to Strata Titles Boards for their approval of the sale). He was consulted by the Ministry of Law in 2007 and 2009 when the Ministry was considering proposed changes to laws governing the collective sale process. The prominent collective sales deals that he has handled over the years include Eastern Mansion, Amberville, Beverly Mai, Farrer Court, Oakswood Heights, Paramount Hotel & Shopping Centre, Parkway View, Chateau Eliza and Green Lodge.
Liat Yeang also acts for many real estate developers in their acquisition, sale and/or project sales of their developments. Some of his developer-clients include Sim Lian Group, Chip Eng Seng (CEL Development), Roxy Pacific Holdings, Tuan Sing Holdings, UIC Investments, S P Setia International, Qingjian Group, Far East Organization, TEE Land, Property Enterprise Development (of Cheung Kong Group) and the Novelty Group.
His more prominent projects include leading in the negotiation and acting for the vendors in the collective sale of Farrer Court which is the largest collective sale in Singapore to-date (both in terms of value of more than S$1.3 billion and in terms of number of units), acting for Sim Lian Group in the first Design Build & Sell Scheme (DBSS) project in Singapore called the Premiere at Tampines (where private developers tender, develop, build and sell HDB flats), acting for Tuan Sing Group in the wholesale of Katong Mall, acting for CEL Development/Lehmann Brothers joint venture entity in the collective purchase of Westpeak (a project in the West Coast with purchase price of S$206 million), acting for CEL Development/Citadel group joint venture entity in the collective purchase of Grange Towers (a project situated in the Orchard area, worth S$180 million). Liat Yeang led in the successful collective sale of Paramount Hotel & Shopping Centre (the first collective sale in Singapore involving a hotel and a retail mall). Liat Yeang also acted for Far East in the acquisition of AA Centre, a commercial podium at River Valley, and for Tuan Sing Holdings in the acquisition of Robinson Point, an office building along Robinson Road. Liat Yeang acted for Roxy in the collective purchase of Yi Mei Gardens condominium, and for TEE Land in the purchase of a mixed use land site at 183 Upper Thomson Road (better known as the Long House). Liat Yeang has been advising clients on issues relating to Additional Buyers Stamp Duties, and on issues relating to Qualifying Certificate issued to foreign developers of residential lands. He successfully assisted a listed company to obtain approval from the Controller of Residential Property to transfer its interest in a residential land to another company. More recently, Liat Yeang acts for Chinese developer Qingjian in their maiden enbloc acquistion in Singapore when they acquired Shunfu Ville for S$638m, which is the highest sale price achieved since 2007 (when Farrer Court was sold). Liat Yeang also acts for Lucrum Capital in their sale of their wholly owned subsidiary Lucrum Capital, which owns the leasehold interest of 11 Hillside Drive which currently houses HWA (the Hillside World Academy which is the new chinese international school).
Liat Yeang has been quoted on numerous occasions in the Straits Times and the Business Time on various legal and commercial issues in the real estate industry. His article "Scope of ABSD - More Clarifications Required from IRAS" was published in full in the Business Times on 21 April 2012. Liat Yeang also wrote another article "Time to Review Qualifying Certificate Rules" which was published in the Business Times' "Who's Who in Law" section on 15 May 2013. More recently, Liat Yeang’s article “So you want to go en bloc …” was published in full in the Straits Times on 18 July 2016.
Liat Yeang is currently serving as Chairman of the Law Society's Conveyancing Practice Committee. Outside of his profession, he is active in the National University of Singapore Society where he was a member of the Management Committee for a few years, and is now serving as a member of the Disciplinary Sub-Committee.
- Owners of Farrer Court: Acting in the sale of the 618-unit development to Morganite Pte Ltd, a consortium comprising CapitaLand, Hotel Properties and Wachovia Development Corporation, for S$1.3388 billion. Today, this remains Singapore's largest collective sale transaction.
- Majority owners of Paramount Hotel & Shopping Centre (PHSC): Acting in the collective sale of PHSC to Far East Organization's Orchard Mall Pte Ltd for S$214 million, making this the largest collective sale of 2010, both in terms of the sale quantum and development size. The sale of this mixed hotel and retail development was subject to the approval of the Strata Titles Board and the High Court. This was the first successful collective sale involving a hotel component. .
- Fernvale Development Pte Ltd: Acting in the project development and sales of all units of High Park Residences. This is a 1399-unit development of flat units, strata landed units and shop units, making this the second largest residential development to-date in Singapore. This matter show-cased the ability of our team to handle the entire project which sold very well at the onset.
- A wholly owned subsidiary of Sinopec: Acting in the land lease of their industrial plant from Jurong Town Corporation (JTC). This plant, worth some S$108 million, houses the operations of Sinopec's joint venture efforts with JTC and Economic Development Board. This is Sinopec's first investment outside mainland China and will serve as the model for future overseas investments.
- Panasonic Corporation: Advising on the real estate aspects its joint venture with NASDAQ listed Skyworks Solutions Inc for developing high performance filter solutions. As part of the deal, Skyworks paid approximately US$148.5 million for a 66% stake in the venture, with Panasonic holding the remaining 34%.
- Lian Beng Group and Centurion Properties: Acting in a successful tender of a freehold development at 14 Spottiswoode Park Road known as Dragon Mansion, which was put up for collective sale. The successful acquisition price of S$130 million makes this one of the larger collective sales of 2011. We are now acting in the new project on site called Spottiswoode Suites.
- Golden Cape Investment: Acting in the sale of Katong Mall to Perennial Katong Retail Trust, a private property trust comprising a consortium of corporate/institutional investors. The sale price for this retail shopping mall at the East Coast (now called 112 Katong) is S$247.55 million, and is reported as one of the largest investment sale transactions in Singapore in 2010.
- Renewable Energy Corporation (REC): Acting in the negotiation and finalisation of the terms of a lease of land from Jurong Town Corporation for the purpose of a huge investment project by REC worth S$6.3 billion.
- SP Setia International Pte Ltd: Acting for Malaysian developer in its S$65 million purchase of 27-unit Leong Bee Court, a residential development at Woodsville Road. This marked SP Setia's first property acquisition in Singapore. SP Setia plans to build a 105-unit development on the site after redevelopment. Also acting for SP Setia in their other and bigger residential project in Singapore, that is, Eco Sanctuary.
- Maxlee Development: Acting for a joint venture company (comprising United Engineers, Greatearth and Lee Metals) in the project sale of Austville Residences, a 540-unit executive condominium located at Sengkang East Avenue. This will be the first executive condominium in Singapore to have a theme design.
- Sim Lian Land: Acting in their successful tender purchase of a Housing Development Board land sale site at Tampines Avenue 5 under the Design, Build and Sell Scheme (DBSS) for a consideration of S$178.13 million. This is our 3rd DBSS project with the same client. The tender price set a new record for a DBSS site sold since the launch of the DBSS scheme in 2006 where private developers were asked to design, build and sell public housing units.
- Grand Waterfront Pte Ltd: Acting for a wholly owned subsidiary unit of Hong Kong's Cheung Kong Group in Singapore, in the successful launch of The Vision on the west coast of Singapore with prices ranging from S$1,000 to S$1,200 psf. The Vision, located across the road from West Coast Park, is a 295-unit development touted to be the tallest condominium building in the western part of Singapore. Its main selling points are the sea views for most units and a clubhouse on the 33rd level. More than 70 percent of the units were sold within one week of the sales launch in early March 2010.
- Sim Lian (Tampines) Pte Ltd: Acting in the tender purchase and redevelopment of land for the Design, Build and Sell Scheme for HDB flats by private developers. The project, The Premiere @ Tampines, valued at approximately S$82 million, is the first of its kind.
- Owners of Eastern Mansion: Acting in 2005's largest collective sale (in terms of number of units sold) at a price of S$152.868 million.
- UIC Development: Acting in the acquisition of a site in St Patrick's Road comprising a conservation bungalow, and the subsequent successful sale (within 36 hours) of the new development called the Grand Duchess At St Patrick's on the same site.
- Asset Legend Limited (part of Hong Kong’s Cheung Kong Group): Acting in the acquisition of a piece of land at Upper Serangoon Road, Singapore for S$276.8 million. Acting now in the project development and sales of Stars of Kovan, a new mixed uses development on the site.
- Shanghai Tunnel Engineering Company (Singapore) Pte Ltd: Acting in the purchase of several units in Prudential Tower, worth $16.4 million. This is the first strata sale of Prudential tower which was sold by KReit to the vendor earlier this year.
- Tuan Sing Holdings Limited (listed company): Acting in its acquisition of the entire issued capital of Robinson Point Limited, which holds the entire issued and paid up capital of 39 Robinson Road Pte Ltd. 39 Robinson Road Pte Ltd was the registered, legal and beneficial owner of the property known as Robinson Point located within the Central Business District of Singapore at 39 Robinson Road. The consideration was approximately S$348 million.
- Qingjian Group: Acting for Qingjian in their acquisition of Shunfu Ville for S$638m. This deal is subject to conditions including the approval of the Strata Titles Board. The sale of this 358 units development makes this the largest collective sale deal since 2007 (when Farrer Court was done).
- Asialaw Profiles: Leading Lawyer for Construction and Real Estate, 2011, 2012, 2014 - 2016
- Asialaw Leading Lawyer: Recognized in the area of Real Estate, 2011 - 2013
- Chambers Asia Pacific : Leading individual for Real Estate, 2012 - 2016
- The Legal 500 Asia Pacific: Recommended lawyer, 2012, 2016
- Author, “So you want to go en bloc…,” The Straits Times, July 18, 2016
- Author, "Legal Consequences For Failure To Complete Purchase Of Private Residential Property", Rodyk Reporter - Property Notes, April 2015
- Author, "Recalibrating The Property Cooling Measures ", Rodyk Reporter - Property Notes, January 2015
- Author, "Time To Review Qualifying Certificate Rules", Rodyk Reporter - Property Notes, June 2013
- Author, "Ice Therapy To Cool The Property Market", Rodyk Reporter - Property Notes, March 2013
- Author, "Change in Project Completion Period Rules For Collective Sale Sites", Rodyk Reporter - Property Notes, December 2012
- Author, "Scope of ABSD - More Clarifications Required from IRAS", Rodyk Reporter - Property Notes, June 2012
- Co-author, "Special Considerations For Remission Of ABSD For Developers", Rodyk Reporter - Property Notes, March 2012
- Co-author, "Latest Amendments To The Laws Of Collective Sale", Property Notes, March 2011
- Co-author, "Say "No To Enbloc Sales": Unity Of Action For Co-Owners", Rodyk Reporter - Property Notes, September 2010
- Co-author, "Government Acts To Cool The Residential Property Market", Rodyk Reporter - Property Notes, August 2010
- Co-author, "The Role And Duties Of En Bloc Sale Committees", Rodyk Reporter - Property Notes, June 2009
- Author, "Stamp Duty Treatment Of Contracts For En Bloc Sale & Purchase Agreements", Rodyk Reporter - Property Notes, September 2008
- Co-author, "'Factors Of Trade' - Are You A Property Trader?", Rodyk Reporter - Property Notes, March 2008
- Author, Interview by Fiona Chan (9 February 2008) on "Rising cost of going en bloc adds to cooler market", Straits Times, Singapore
- Author, "Removal Of Deferred Payment Scheme Under Housing Developers Rules", Rodyk Reporter - Property Notes, December 2007
- Author, Interview by Cheryl Fox (29 September 2007) on "Bayshore Park holds EOGM to elect en bloc sales committee", Channel NewsAsia, Singapore
- Author, "Proposed Changes To Rules Governing En Bloc Sales: A Commentary", Rodyk Reporter - Property Notes, June 2007
- Co-author, ""Design, Build & Sell Scheme" - Public Housing In Singapore By Private Developers", Rodyk Reporter - Property Notes, September 2006
- Author, "Validity Of Electronic Contracts For Transaction Of Interests In Land", Rodyk Reporter - Property Notes, March 2006
- Author, "Legal Pitfalls Of Strata Titles Board Applications For Collective Sales In Singapore", Rodyk Reporter - Property Notes, December 2005
- Co-author, "Building Maintenance And Strata Management Act 2004", Rodyk Reporter - Property Notes, June 2005
Activities and Affiliations
- Chairman, Conveyancing Practice Committee, The Law Society of Singapore
- Member, Management Committee, National University of Singapore Society
- Member, Disciplinary Sub-Committee, National University of Singapore Society
- Member, Taxpayer Feedback Panel, Inland Revenue Authority of Singapore
- SAL Annual Review Conference 2016: Chaired the panel discussion on the review of Land Law Cases of 2015, July 26, 2016
- Seminar on Legal Analysis of Property Cooling Measures in Singapore - Tax and Financial Control Measures, May 8, 2014
- Understanding Qualifying Certificate and Time Schedule Affecting Housing Developers, November 22, 2013
- Applicability Of Additional Buyer's Stamp Duty In Mixed Uses Developments, August 17, 2012
- Additional Buyer's Stamp Duty - Additional Cost For Some Buyers Of Residential Properties, July 18, 2012
- REDAS Members Networking Session, November 3, 2008
- Stamping Issue For En Bloc Purchase & Interest Absorption Scheme, April 18, 2008
- Legal Pitfalls Of Application To STB For Approval of En Bloc Sales, August 30, 2007
- Case Study Of An En Bloc Sale Transaction, August 2, 2007
- Legal Pitfalls In An En Bloc Sale Transaction, May 25, 2006
Prior and Present Employment
- Senior Partner - Dentons Rodyk (formerly Rodyk & Davidson LLP) (1993 - present)