es, if a company named Apex buys over the landed property Sin Ming Centre, they are legally obligated to compensate the existing owners of the property.
Key Points:
Land Acquisition Act: In Singapore, the Land Acquisition Act governs the compulsory acquisition of land for public purposes. Even if the acquisition is for private development, the principles of fair compensation apply.
Market Value Compensation: The owners are entitled to receive compensation equivalent to the market value of their property at the time of acquisition. This is determined by professional valuers appointed by the Singapore Land Authority (SLA).
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