URA awards Ang Mo Kio residential site for $381.4mil

United Venture Dvlpmt (2021) is a 60:20:20 alliance among UOL Group, Singapore Land Group and Kheng Leong Co.

On a Singapore Exchange declaring, UOL said the possession helps the team “to refill its own land depository for residential progress in S’pore”.

It mentioned that the possession “will be financed primarily out of banking institution borrowings also proportional shareholders’ fundings, and is in no way predicted to get a component effect on the final concrete assets per allotment and also proceeds / share of UOL for the fiscal yr finishing 31Dec2K21 “.

Jesline Goh, Head I&A Representative at UOL, has disclosed strategies to construct a 24 to 25 floor plan at the spot, with greater than 3hundred 70 units “who will definitely experience unblocked views of the Bishan & AMK Recreation Area, Lower Peirce Reservoir Recreation Area, and even Shangri-la Park landed property area “.

Pollen Collection floor plan

“We enjoy this area since it exists in the OCR that shares the same characteristics like our other attractive projects commenced in the latest years. As this is the current GLS location in Ang Mo Kio in the past 7 yrs, our company believe there will certainly be a healthy interest for the property,” she mentioned.

Debuted for bidding on 26Nov2020, the area features a surface area of Twelve thousand Six hundrerd Seventy nine square metre including an utmost permissible GFA of Thirty one thousand Six hundred Ninety nine square m. The quote for the 99 years rental site wrapped up on 25 May 2K21, with fifteen quotes obtained.

The best bid was 6.3% over the second top offer of $3hundred 58 million from Titus Residential S’pore, a collaboration in between CDL as well as MCL Land.

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