NEWS

En-bloc acquisition of freehold residential property in Bukit Timah

On 27 October 2021, UOL’s tender for the en-bloc purchase of Watten Estate Condominium at 36-44 Shelford Road was accepted by the members of the Sale Committee for a total consideration of $550.8 million. The acquisition was conducted in an 80:20 joint venture between UOL and SingLand.

The freehold property has a land area of 220,241 sq ft and a gross plot ratio of 1.4.

Chief Investment and Asset Officer Jesline Goh said: “The acquisition is a timely replenishment for UOL Group as most of our projects are substantially sold. The prime freehold site is located in the exclusive residential enclave at Watten Rise, which is within one kilometre of two prestigious primary schools, Nanyang Primary and Raffles Girls’ Primary Schools. Leveraging our product DNA and experience in developing luxury collection projects like MEYER HOUSE, a high-end project which saw healthy take-up with all of its six penthouses sold, we plan to develop another luxury project with about 200 larger format units on elevated ground.”