URA awards Ang Mo Kio residential site for $381.4mil
United Venture Development (2021) is a 60%-20%-20% co-own involving UOL Grp, SGP Land Group and Kheng Leong Company.
On a Singapore Exchange declaring, UOL said the procurement lets the grp “to refill its own land stock for housing advancement in Singapore”.
It mentioned that the acquirement “will be financed mainly from bank loanings as well as proportional stockholders’ loans, and never presumed to get a component influence on the net tangible assets per share also profits per share of UOL for the fiscal year finishing 31 Dec 2021 “.
Jesline , Chief Investment and Asset Representative at UOL, has actually let out plans to build a 24 or 25 storey project at the site, with at least 370 units “in which will certainly indulge in unblocked scenes of the Bishan-Ang Mo Kio Recreation Area, Lower Peirce Reservoir Recreation Area, plus Shangri-la Park landed property grounds “.
“We enjoy this area because it stands in the OCR that provides the very same features like our other famous properties introduced in the latest years. As this is the most up to date Government Land Sales location in AMK in the previous 7 yrs, we regard there will definitely be a vibrant interest for the project,” she expressed.
Opened for tender on 26Nov’20, the location owns a size of Twelve thousand Six hundrerd Seventy nine square meter and an utmost permissible gross floor area of 31,699 square m. The proposal for the 99 years lease location ended on 25May’21, with fifteen proposals got.
The leading bid was Sixpercent above the second-highest tender of $Three hundred Fifty Eight mil from Titus Residential S’pore, a tie-up involving City Developments and MCL Land.