URA awards Ang Mo Kio residential site for $381.4mil
United Venture Development (2021) is a 60:20:20 co-own amongst UOL Grp, SGP Land Grp and also Kheng Leong Co.
On a SGX declaring, UOL stated the possession aids the team “to refresh its own land stock for household improvement in SGP”.
It posted that the procurement “is going to be financed mostly out of bank fundings as well as proportionate shareholders’ financings, and never presumed to get a substance impact on the final solid possessions per allotment and earnings / share of UOL for the financial year finishing 31December2K21 “.
Jesline Goh, Chief Investment and Asset Officer at UOL, has recently given away plannings to construct a 24/25 storey proposal at the location, with beyond Three hundred Seventy apartments “who are going to experience unobstructed sights of the Bishan-Ang Mo Kio Recreation Area, Lower Peirce Reservoir Park, and also Shangri-la Park landed homes estate “.
“We enjoy this area given that it remains in the outside central region which provides the same features like our other popular residences launched in the present years. As this is the newest GLS spot in AMK in the past seven yrs, our team believe there will definitely be a great requirement for the project,” she stated.
Introduced for bidding on 26 Nov ’20, the spot owns an area of Twelve thousand Six hundrerd Seventy nine square m furthermore an utmost legalized gross floor area of 31,699 sq metre. The proposal for the 99-year leasehold area wrapped up on 25 May 2K21, with 15 quotes accepted.
The highest proposal was Sixpercentage over the second-highest tender of $3hundred 58 million from Titus Residential SG, an alliance involving City Developments along with MCL Land.