Ernest Teo
Partner
Ernest’s expertise is in acting for property developers in the acquisition and development and sale of commercial, industrial and residential projects.
Ernest also has experience in direct and indirect acquisitions including en bloc acquisitions, real estate financing, commercial leasing and real estate investment trusts.
Ernest graduated from the National University of Singapore with an LL.B. (Hons) and was called to the Singapore Bar in 1994. He joined Allen & Gledhill in 2001.
Work Highlights
- Acted in the divestment of Jurong Point mall for S$2.2 billion by way of seven inter-conditional sale and purchase agreements.
Publications
- Lease Agreements for Retail Premises Act 2023 to take effect from 1 February 2024
- Bill passed to mandate compliance with Code of Conduct for Leasing of Retail Premises for qualifying leases of retail premises, expected to take effect in February 2024
- URA issues circular on pre-approved amendments to OTP to comply with anti-money laundering and terrorism financing requirements
- Refinements to list of non-residential properties under Residential Property Act 1976 as set out in Residential Property Notification
- Bill introduced to mandate compliance with Code of Conduct for Leasing of Retail Premises for qualifying retail premises in Singapore
- MAS, MOF and MND announce higher Additional Buyer’s Stamp Duty (ABSD) rates from 27 April 2023
- New anti-money laundering and terrorism financing responsibilities for developers from 28 June 2023
- Singapore Land Authority announces digital conveyancing portal to transform conveyancing process by 2026
- MAS, MND and HDB announce measures to ensure prudent borrowing and moderate demand in property market
- Stamp Duties Act 1929 amended from 10 May 2022 to introduce ACD for equity interests of property holding entities transferred into living trust
- New charge under Land Betterment Charge Act 2021 replaces development charge, temporary development levy and differential premium
- Stamp Duties (Amendment) Bill passed: Additional Conveyance Duties for equity interests of property holding entities transferred into living trust
- MTI seeks feedback on proposed legislation to mandate compliance with Code of Conduct for Leasing of Retail Premises in Singapore
- ABSD for residential properties transferred into a living trust and Stamp Duties Act to be amended to introduce ACD for equity interests of property holding entities transferred into living trust
- Revisions to the Code of Conduct for Leasing of Retail Premises
- URA seeks feedback on proposed requirements for developers to provide information to buyers and amendments to Housing Developers Rules
- Raising additional buyers stamp duty rates and tightening loan to value limits to cool the property market
- Rental waiver framework for businesses impacted by Phase 2 (Heightened Alert) takes effect
- Bill to implement rental waiver framework for businesses impacted by Phase 2 (Heightened Alert) passed
- Part 8C of Covid-19 (Temporary Measures) Act in force to extend date of delivery of possession in eligible sale and purchase agreements
- MinLaw refines criteria for publicly listed housing developers with substantial connection to Singapore to be exempted from Qualifying Certificate regime under Residential Property Act
- Support package to help workers and businesses during Phase Two (Heightened Alert)
- Extension of temporary relief measures for property developers affected by disruptions to construction timelines following tighter border measures
- Enhanced support measures for businesses and individuals during Phases 2 and 3 (Heightened Alert)
- Land Betterment Charge Bill passed in Parliament: New charge to replace development charge, temporary development levy and differential premium
- Singapore Business Federation announces introduction of Code of Conduct for Leasing of Retail Premises
- Proxy restrictions at general meetings for en bloc sales in force from 18 January 2021
- Re-align Framework allowing businesses significantly impacted by Covid-19 to renegotiate contracts to commence on 15 January 2021
- MinLaw further extends relief periods for specified contracts under Covid-19 (Temporary Measures) Act 2020
- Bill passed to allow businesses significantly impacted by Covid-19 to renegotiate contracts
- Covid-19 (Temporary Measures) Act 2020: Statutory extensions of time and cost sharing to provide further support for stakeholders in the built environment sector
- MinLaw announces proxy restrictions at general meetings for en bloc sales from January 2021
- Covid-19: Additional temporary relief measures for property developers affected by disruptions to construction timelines
- Covid-19 (Temporary Measures) Act 2020 enhanced to cover options to purchase and sale and purchase agreements for commercial and industrial properties
- MinLaw extends relief periods for specified contracts under Covid-19 (Temporary Measures) Act 2020
- New provisions in Covid-19 (Temporary Measures) Act 2020 expand rental relief assessors’ powers, clarify interaction of relief measures with SOPA and extend deadlines for some collective sales
- URA imposes new conditions in sale licences to restrict re-issue of option to purchase for same unit to same purchaser
- Covid-19 (Temporary Measures) Act 2020 to be amended to expand rental relief assessors’ powers, clarify interaction of relief measures with SOPA and extend deadlines for some collective sales
- Covid-19: Measures providing rental relief for SMEs and non-profits, relief for inability to vacate business premises and cap on late payment interest and charges in force
- MinLaw issues note on rental relief framework
- Covid-19: Bill passed to provide more relief for SME tenants and cap late payment interest and charges, authorities enhance relief for landlords
- Covid-19 (Temporary Measures) Act 2020 enhanced to cover contracts with housing developers, prohibit unilateral increase of charges
- Covid-19: Temporary relief measures for property sector
- Covid-19: Order prescribing alternative arrangements for meetings of management corporations and collective sale committees issued
- MinLaw allows publicly listed housing developers with substantial connection to Singapore to apply for exemption from Qualifying Certificate regime under Residential Property Act
- Upcoming new anti-money laundering and countering of terrorism financing responsibilities for developers