NEWS

UOL Group moves to acquire Thomson View condominium

On 26 October 2024, UOL, our subsidiary SingLand, and CapitaLand Development signed an option to acquire Thomson View, a 99-year leasehold condominium, for $810 million in a collective sale.

UOL Group Chief Executive Liam Wee Sin & CapitaLand Development (Singapore) CEO Tan Yew Chin said in a joint statement: “The Thomson View site is an elevated, sprawling 5-hectare site that enjoys spectacular unblocked views. This site has very strong locational attributes, with Upper Thomson MRT station at its doorstep, popular schools such as Ai Tong School within a one kilometre-radius, nearby amenities including Thomson Plaza, as well as close proximity to parks and nature reserves.

“The proposed acquisition of Thomson View is by a 50:50 joint venture between UOL-SingLand (80:20) and CapitaLand Development. If 80% consent is secured, this acquisition adds another prime land parcel into our portfolio of JV sites with its strategic location and exceptional attributes. We will leverage our combined expertise to transform the site into a 1,240-unit condominium, capitalising on the limited supply in the vicinity.”