URA awards Ang Mo Kio residential site for $381.4mil
United Venture Development (2021) is a 60:20:20 joint venture between UOL Group, Singapore Land Grp including Kheng Leong Company.
On a SGX filing, UOL claimed the procurement enables the team “to refill its own land bank for home development in S’pore”.
It shared that the possession “will be funded principally coming from banking company borrowings and also in proportion shareholders’ financings, and never foreseed to possess a component influence on the net tangible properties / share also earnings per allotment of UOL for the financial yr ending 31Deember2021 “.
Jesline Goh, Head I&A Representative at UOL, has recently let out plannings to put up a 24 or 25 level plan at the area, with greater than Three hundred Seventy apartments “in which will savor unblocked scenes of the Bishan & AMK Park, Lower Peirce Reservoir Park, as well as Shangri-la Park landed property estate “.
“We enjoy this spot because it remains in the outside central region that distributes the same features just like our many other favored properties launched in the existing yrs. As this is currently GLS site in Ang Mo Kio in the previous seven yrs, our company believe there will definitely be a vibrant interest for the project,” she expressed.
Kicked off for quote on 26November2K20, the area owns an expanse of Twelve thousand Six hundrerd Seventy nine sq m together with a peak legalized gross floor area of 31thousand 6hundred 99 sq meter. The tender for the 99-year leasehold site wrapped up on 25 May ’21, with fifteen offers got.
The best tender was 6.3percent above the next highest offer of $3hundred 58 mil from Titus Residential SG, an alliance between City Developments as well as MCL Land.