URA awards Ang Mo Kio residential site for $381.4mil
United Venture Dvlpmt (2021) is a 60%-20%-20% joint venture involving UOL Grp, Singapore Land Grp together with Kheng Leong Company.
During a SGX submission, UOL stated the possession enables the grp “to refresh its land depository for non commercial improvement in SGP”.
It posted that the possession “is going to be funded principally coming from bank loans also proportional investors’ loans, and is not projected to have a component influence on the net solid assets / share and gains per share of UOL for the financial yr ending 31Dec2021 “.
Jesline Goh, Head I&A Officer at UOL, has revealed plannings to put up a 24/25 floor plan at the area, with excess of Three hundred Seventy units “which will certainly delight in open views of the Bishan-Ang Mo Kio Park, Lower Peirce Reservoir Park, furthermore Shangri-la Park landed housing estate “.
“We enjoy this spot given that it stands in the outside central region that provides the very same attributes just like our other favored residences introduced in the recent years. As this is the most recent Government Land Sales area in Ang Mo Kio in the recent 7 years, our company believe there will definitely be a robust need for the property,” she said.
Kicked off for bidding on 26Nov2020, the location features an expanse of 12thousand 6hundred 79 sq m furthermore a highest authorized gross floor area of 31thousand 6hundred 99 sq metre. The bidding for the 99-year rental location ended on 25May2K21, with fifteen offers collected.
The top quote was 6.3% above the next highest offer of $3hundred 58 mil from Titus Residential SG, a joint venture involving City Developments also MCL Land.