URA awards Ang Mo Kio residential site for $381.4mil
United Venture Dvlpmt (2021) is a 60%-20%-20% collaboration in between UOL Group, SGP Land Grp along with Kheng Leong Company.
In a SGX declaring, UOL said the procurement helps the grp “to refresh its land bank for household advancement in S’pore”.
It mentioned that the acquisition “will be bankrolled principally from banking institution loans and proportionate stockholders’ advances, and is in no way anticipated to get a substance impact on the net tangible assets per allotment and also incomes per share of UOL for the fiscal year concluding 31Deember2021 “.
Jesline Goh, Chief I&A Representative at UOL, has actually let out arrangements to construct a 24/25 level property at the area, with more than just 370 units “in which are going to take joy in open views of the Bishan & AMK Park, Lower Peirce Reservoir Recreation Area, furthermore Shangri-la Park landed homes grounds “.
“We enjoy this area because it remains in the OCR which offers the exact same qualities just like our some other favored residences launched in the existing yrs. As this is the current Government Land Sales site in AMK in the last 7 years, our company believe there will definitely be a strong need for the project,” she spoke.
Kicked off for tender on 26November’20, the area features a size of Twelve thousand Six hundrerd Seventy nine square metre along with a max lawful GFA of 31,699 square meter. The quote for the 99-year lease spot concluded on 25 May 2K21, with 15 offers accepted.
The leading bid was Sixpercentage over the second-highest quote of $358.9 million from Titus Residential S’pore, a collaboration concerning CDL as well as MCL Land.