The High Court suit filed by the management of the Emery Point condominium in Tanjong Katong over various building defects was resolved on Tuesday.
The management, which represents the owners, had taken legal action against property developer City Developments Limited (CDL), the main contractor, five subcontractors and the architect, claiming a compensation worth approximately S$600,000 to resolve the defects.
Three of the subcontractors reached a settlement with the owners on Monday, when the hearing began.
The condo owners also arrived at a settlement with CDL, the main contractor and the other two subcontractors on Tuesday.
The parties said in a joint press statement that they were “pleased that a final resolution has now been reached” and that the management will be using the settlement money to “do up Emery Point, which should enhance its value”.
The management also clarified in the statement that there were 16 water leakage points in the basement carpark and not 280, as previously claimed.