URA awards Ang Mo Kio residential site for $381.4mil

United Venture Development (2021) is a 60%-20%-20% co-own concerning UOL Grp, S’pore Land Grp and Kheng Leong Company.

During a Singapore Exchange submission, UOL claimed the purchase gives the team “to rejuvenate its own land bank for residential development in S’pore”.

Provence Residence floor plan

It posted that the possession “will be bankrolled mostly coming from banking institution credits and even proportionate stockholders’ credits, and never presumed to have an element influence on the final tangible properties per allotment also gains / share of UOL for the financial year finishing 31December’21 “.

Jesline Goh, Head I&A Representative at UOL, has actually disclosed strategies to construct an up to 25 floor proposal at the site, with at least 3hundred 70 apartments “who will definitely enjoy unblocked panoramas of the Bishan-Ang Mo Kio Recreation Area, Lower Peirce Reservoir Park, also Shangri-la Park landed property grounds “.

“We enjoy this site because it remains in the OCR which shares the exact same attributes just like our other popular residences opened in the existing yrs. As this is currently Government Land Sales spot in Ang Mo Kio in the recent seven yrs, we regard there will definitely be a robust demand for the property,” she mentioned.

Debuted for quote on 26 Nov ’20, the location owns an area of 12thousand 6hundred 79 square metre and also a total permitted GFA of 31thousand 6hundred 99 square meter. The quote for the Ninety nine yrs rental area ended on 25 May 2021, with 15 bids received.

The highest quote was Six% above the 2nd best quote of $Three hundred Fifty Eight mil from Titus Residential S’pore, a joint venture in between CDL also MCL Land.

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