Mingtiandi
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The site is close to a set of three parks in central Singapore
A real estate developer controlled by the family behind United Overseas Bank has placed the top bid for a residential site overlooking a set of parks in central Singapore, edging out 14 other contestants including a joint offer by City Developments Ltd and a unit of Hongkong Land, according to an official announcement.
UOL Group Ltd joined with its subsidiary, Singapore Land Group Ltd and Kheng Leong Company, a private real estate business of UOL Group chairman Wee Cho Yaw, to offer S$381.4 million ($287 million) for the rights to a 31,699 square metre (341,205 square foot) project along Ang Mo Kio Avenue 1 near the Mayflower MRT station, which is slated to open later this year.
May 02, 2021
Urban Treasures
When we did our last ultimate new launch cheat sheet in February 2020 (view here), I don’t think many people would have predicted then how the property market would have moved as much as it had in the past year.
It was, after all, the beginning of the Covid-19 pandemic (for Singapore, at least). And it was not long after this that Singapore had to go into lockdown mode.
Now, it isn’t just the mass market that is moving, but there is a slew of high-end new launches coming up, and HDB resale prices have climbed up for 4 straight quarters.