URA awards Ang Mo Kio residential site for $381.4mil
United Venture Dvlpmt (2021) is a 60:20:20 co-own among UOL Grp, Singapore Land Grp and Kheng Leong Co.
On a SGX submission, UOL claimed the acquisition allows the group “to restore its land depository for non commercial progress in S’pore”.
It shared that the acquirement “is going to be financed mostly coming from financial institution borrowings and even proportional investors’ finances, and is not forecasted to receive an element effect on the final solid possessions / share also profits per allotment of UOL for the fiscal yr finishing 31 Dec 2021 “.
Jesline , Chief I&A Representative at UOL, has recently revealed plannings to build a 24/25 level plan at the area, with at least 3hundred 70 apartments “which will definitely enjoy open scenes of the Bishan & Ang Mo Kio Park, Lower Peirce Reservoir Recreation Area, and also Shangri-la Park landed homes grounds “.
“We admire this area as it stands in the outside central region which provides the exact same features like our other well-received properties debuted in the current yrs. As this is the current Government Land Sales area in AMK in the recent seven yrs, our team believe there definitely will be a healthy demand for the property,” she spoke.
Kicked off for quote on 26November2020, the site owns an expanse of Twelve thousand Six hundrerd Seventy nine sq m and even an utmost authorized GFA of Thirty one thousand Six hundred Ninety nine square metre. The proposal for the 99-year lease location wrapped up on 25May2021, with 15 bids got.
The leading tender was Sixpercentage above the second-highest proposal of $358.9 mil from Titus Residential S’pore, an alliance amongst CDL together with MCL Land.