URA awards Ang Mo Kio residential site for $381.4mil

United Venture Development (2021) is a 60:20:20 co-own amongst UOL Grp, S’pore Land Grp and also Kheng Leong Company.

During a Singapore Exchange submission, UOL said the procurement enables the grp “to make up its own land bank for home development in Singapore”.

It posted that the possession “will be bankrolled primarily from banking company loanings also proportionate shareowners’ financings, and never predicted to get a material impact on the final solid properties / share also incomes per allotment of UOL for the financial yr ending 31 Dec 2021 “.

Jesline Goh, Chief I&A Officer at UOL, has recently disclosed outlines to construct a 24 or 25 floor plan at the spot, with at least Three hundred Seventy units “who are going to take joy in unobstructed scenes of the Bishan-Ang Mo Kio Recreation Area, Lower Peirce Reservoir Park, as well as Shangri-la Park landed property grounds “.

One Bernam floor plan

“We enjoy this area considering that it remains in the OCR that shares the very same attributes just like our many other famous residences opened in the existing yrs. As this is the most recent Government Land Sales area in Ang Mo Kio in the recent seven yrs, our company believe there will be a vibrant demand for the property,” she spoke.

Commenced for proposal on 26November’20, the location offers a size of 12thousand 6hundred 79 square metre furthermore a highest acceptable gross floor area of 31,699 sq metre. The quote for the 99 years lease site concluded on 25May2K21, with fifteen offers earned.

The leading offer was Sixpercent over the second-highest bid of $Three hundred Fifty Eight million from Titus Residential S’pore, an alliance amongst City Developments along with MCL Land.

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