URA awards Ang Mo Kio residential site for $381.4mil
United Venture Dvlpmt (2021) is a 60%-20%-20% alliance in between UOL Grp, S’pore Land Grp along with Kheng Leong Company.
On a Singapore Exchange submission, UOL claimed the acquisition helps the group “to make up its own land bank for housing progression in S’pore”.
It posted that the acquirement “will be bankrolled primarily coming from financial institution loans and proportionate stockholders’ fundings, and never foreseed to receive a component impact on the net concrete properties per share as well as incomes per share of UOL for the financial year ending 31Dec2K21 “.
Jesline , Chief I&A Officer at UOL, has actually admitted arrangements to build an up to 25 floor proposal at the area, with at least Three hundred Seventy units “that are going to take pleasure in unblocked sights of the Bishan & Ang Mo Kio Park, Lower Peirce Reservoir Park, also Shangri-la Park landed homes area “.
“We appreciate this area considering that it stands in the outside central region which distributes the very same qualities like our some other well-received residences debuted in the recent years. As this is the latest Government Land Sales area in AMK in the previous seven yrs, we feel there will be a strong requirement for the project,” she reported.
Introduced for bidding on 26Nov2020, the spot features a size of Twelve thousand Six hundrerd Seventy nine sq m together with a maximum lawful gross floor area of 31,699 sq metre. The quote for the Ninety nine yrs rental location wrapped up on 25May2K21, with 15 bids received.
The leading tender was Sixpercentage above the 2nd best tender of $3hundred 58 million from Titus Residential SG, a tie-up concerning CDL as well as MCL Land.