Executive condominium is basically a housing that is governed by HDB and yet is embedded with facilities that are provided by private condo. Basically, an executive condominium balances out private and public housing by bringing to the residents cheaper housing facilities as compared to those of private housing but it would also be equipped with all the facilities that a condo provide. Most of the times, an executive condominium is sold at a subsidized rate from a private developer. However, as per the rules the purchaser of an executive condo will have to keep the particular unit for 5 years after TOP i.e. till 2020 in this case. The unit cannot be sold or given on rent during these 5 years. After completion of 5 years, the unit can be sold to Singapore Permanent Residents. It can be sold to foreigners only after 10 years. Also, an executive condo will be having certain eligibility conditions such as family nucleus, age criteria, citizenship, income ceiling and property ownership criteria.