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Consortium led by UOL, CapitaLand awarded prime Holland Drive site

URA has awarded the tender for the recently closed government land sale (GLS) site at Holland Drive with a winning bid of $805.39 million, to a consortium comprised of CapitaLand Development (35%), UOL Group (35%), Singapore Land Group (20%) and Kheng Leong Co. (10%).

The state tender attracted three bidders, with the second-highest bid at $765.3 million, or 5.2% below the top bid.

A spokesperson for the CapitaLand-UOL consortium stated that it intends to develop two 40-storey condominium towers accommodating 680 units on the site.

Located in the prime District 10 area, the Holland Drive site is about a five-minute walk away from Holland Village MRT station, right next to the newly completed One Holland Village mixed-use development. It is also close to the cluster of Good Class Bungalow areas along North Buona Vista Road and Holland Road. Other nearby amenities include Holland Village Market & Food Centre. Established schools within 1 to 2 km include Nanyang Primary School, Henry Park Primary School and Fairfield Methodist School Primary.