URA awards Ang Mo Kio residential site for $381.4mil
United Venture Development (2021) is a 60:20:20 alliance among UOL Group, Singapore Land Group as well as Kheng Leong Company.
In a Singapore Exchange declaring, UOL claimed the acquisition permits the grp “to refresh its land stock for residential improvement in S’pore”.
It posted that the acquirement “is going to be funded mostly coming from banking company loanings and proportionate shareowners’ fundings, and never predicted to get a substance influence on the net tangible assets / share as well as profits / share of UOL for the financial yr closing 31December’21 “.
Jesline , Chief I&A Officer at UOL, has given away outlines to construct a 24 to 25 level plan at the area, with more than 3hundred 70 units “that will appreciate unblocked viewpoints of the Bishan & AMK Recreation Area, Lower Peirce Reservoir Recreation Area, also Shangri-la Park landed house estate “.
“We like this spot since it remains in the outside central region which provides the same qualities just like our other famous residences launched in the current years. As this is the current Government Land Sales spot in AMK in the last 7 yrs, we trust there will be a robust interest for the project,” she mentioned.
Debuted for tender on 26November2K20, the site features an expanse of Twelve thousand Six hundrerd Seventy nine sq metre as well as a peak authorized GFA of 31,699 square m. The tender for the 99-year rental site ended on 25 May ’21, with 15 quotes got.
The top offer was Sixpercentage above the 2nd highest offer of $358.9 mil from Titus Residential Singapore, an alliance amongst City Developments and also MCL Land.