In Singapore, if you purchase or stay in a private condominium flat, you will definitely see the word "MCST". What does it stand for?
MCST, or "Management Corporation Strata Title" in real estate terms, is the managing body of a condominium or any compound which has multiple owners and shared public facilities (such condominiums, strata-landed, or any commercial building such as offices, shopping malls).
Each Management Corporation is contracted to manage an estate, and is given a name: Management Corporation Strata Title Plan No. xxxx (where "XXXX" are running numbers).
This managing body is responsible for the common compound/services of the development such as swimming pool, tennis court, gym, security and so on. All such public facilities have to be managed and maintained by professionals.
All owners are therefore required to pay for the MCST's services through their monthly maintenance fees.
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