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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.
Singapore Property Tycoons Bet Big On Housing As Demand Heats Up forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
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2017
There are some condos that have names that are just aptly named of what it represents. Be it luxurious, a resort-vibe, or a nature infused estate – that first impression is already built from the get-go.
But there are also those that are sleeper hits – the Alex Residences is one of them. With such a common name, you’d be forgiven for assuming that this is a run-of-the-mill condominium.
If anything, it is placed amongst competitors with really different names as well – The Echelon, Artra – names that evoke a sense of sophistication. So if you’d to compare just on the surface by its name, it does seem very tame in comparison.
Now that’s a slogan that befits The Crest in more ways than one.
Before I go into greater detail on that however, allow me to first share a little more about our project today.
The Crest is a 99-year leasehold condo built by Wing Tai Asia (TOP-ed 2018) with the aid of renown architect Toyo Ito (recipient of the esteemed Pritzker Prize back in 2013).
To say that the towers at The Crest are of a unique structure would probably be a keen understatement.
For those who frequent Alexandra Road, you’d likely recall three distinct towers with units extending outward at varying heights (somewhat resembling a blooming flower’s petals if you will).