URA awards Ang Mo Kio residential site for $381.4mil
United Venture Dvlpmt (2021) is a 60:20:20 joint venture involving UOL Grp, S’pore Land Grp as well as Kheng Leong Company.
In a SGX declaring, UOL stated the procurement makes it possible for the team “to refill its land depository for housing progress in Singapore”.
It posted that the acquisition “will be funded mainly from financial institution loans also proportional stockholders’ finances, and is in no way projected to get an element impact on the final solid properties per allotment as well as gains / share of UOL for the financial year ending 31December’21 “.
Jesline Goh, Chief I&A Officer at UOL, has actually given away outlines to develop an up to 25 storey proposal at the spot, with greater than 370 units “that are going to experience open scenery of the Bishan-AMK Recreation Area, Lower Peirce Reservoir Park, and Shangri-la Park landed homes estate “.
“We fancy this area considering that it remains in the OCR that shares the very same qualities just like our many other attractive residences released in the recent years. As this is currently Government Land Sales spot in AMK in the last 7 yrs, our team believe there will definitely be a healthy interest for the property,” she reported.
Opened for proposal on 26 Nov 2020, the area owns an expanse of Twelve thousand Six hundrerd Seventy nine square meter and also an utmost allowable GFA of 31thousand 6hundred 99 sq meter. The proposal for the 99-year leasehold location ended on 25 May 2K21, with fifteen tenders accepted.
The main tender was 6.3percentage above the second-highest offer of $3hundred 58 million from Titus Residential SG, a tie-up amongst CDL and MCL Land.