A consortium made up of UOL Group Limited, Singapore Land Group (SingLand) and Kheng Leong, have submitted the highest bid for a URA sale site at Dorset road.
The tendered sale price submitted by the consortium is $524.3 million, according to a release by URA. That amounts to $14,405.06 per square metre of gross floor area.
The project is a 60:20:20 joint venture between UOL, SingLand and Kheng Leong respectively.
Other bidders include ABR Holdings, Wee Hur Property, GuocoLand, among others.
The Dorset site is centrally located and it is the only site that sits within the fringe of CCR region from GLS Confirmed List sites for 2025, says UOL chief investment and asset officer Shirley Ng.
Ng adds that the site has strong locational attributes, with close proximity to Farrer Park MRT and within 1km radius to renowned schools such as St Joseph Institution Junior and Hong Wen School.
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“If awarded, it will be a very timely replenishment for our residential stock. The development will comprise two 27-storey towers accommodating 428 residential units,” she says.
Shares in UOL Group closed 7 cents lower or 0.875% down at $7.93 on Oct 9.
