Exemption from need for approval to change existing use
3. Section 28 of the Act does not apply to Areca Investment Pte Ltd, in relation to land that —
(a)
is acquired, owned or purchased by Areca Investment Pte Ltd on or after 14 August 2020; and
(b)
is intended for purposes of change of use to and development as residential property and with the ultimate purpose of sale or disposal by Areca Investment Pte Ltd as residential property for profit.