UOL Group has won the tender for the residential site at Clementi Avenue 1 with a bid of $302.1 million.
The winning bid was submitted by wholly-owned subsidiary UOL Venture Investments and Singland Homes, a subsidiary of United Industrial Corporation.
Measuring 140,339 sf, the land, which has a 99-year tenure with a gross plot ratio of 3.5, has been set aside for residential development.
UOL said a joint venture company will be incorporated by the parties on a 50:50 basis respectively to undertake the proposed development of the site.
The acquisition and development of the site would enable the UOL Group to replenish its
land bank for residential development in Singapore.
UOL closed 1% lower at $6.05.
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The winning bid was submitted by wholly-owned subsidiary UOL Venture Investments and Singland Homes, a subsidiary of United Industrial Corporation.
Measuring 140,339 sf, the land, which has a 99-year tenure with a gross plot ratio of 3.5, has been set aside for residential development.
UOL said a joint venture company will be incorporated by the parties on a 50:50 basis respectively to undertake the proposed development of the site.
The acquisition and development of the site would enable the UOL Group to replenish its
land bank for residential development in Singapore.
UOL closed 1% lower at $6.05.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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