URA awards Ang Mo Kio residential site for $381.4mil
United Venture Development (2021) is a 60%-20%-20% alliance among UOL Grp, SGP Land Grp as well as Kheng Leong Company.
During a SGX declaring, UOL said the procurement enables the group “to boost its own land stock for housing progression in S’pore”.
It mentioned that the possession “is going to be bankrolled mainly from bank loanings and even proportional investors’ credits, and never presumed to get a component influence on the final concrete assets / share also revenues / share of UOL for the fiscal yr closing 31Dec2021 “.
Jesline Goh, Head I&A Representative at UOL, has admitted outlines to develop a 24 to 25 level property at the site, with at least Three hundred Seventy units “that are going to experience unobstructed viewpoints of the Bishan & AMK Recreation Area, Lower Peirce Reservoir Recreation Area, also Shangri-la Park landed house estate “.
“We appreciate this area because it remains in the outside central region which provides the exact same attributes just like our some other attractive projects kicked off in the latest years. As this is the current Government Land Sales location in Ang Mo Kio in the recent seven yrs, our company believe there will definitely be a healthy need for the project,” she spoke.
Debuted for tender on 26November’20, the area has a surface area of 12,679.4 square meter along with a maximum allowable GFA of Thirty one thousand Six hundred Ninety nine sq meter. The quote for the Ninety nine years leasehold area ended on 25May’21, with fifteen quotes acquired.
The main quote was 6.3percentage above the second-highest tender of $Three hundred Fifty Eight million from Titus Residential Singapore, an alliance involving CDL and also MCL Land.