NEWS

UOL, SingLand and CapitaLand consortium acquires Tampines Avenue 11 mixed-use GLS site for $885 psf ppr

A consortium between UOL Group, Singapore Land (SingLand) and CapitaLand Development submitted a top bid of $1.206 billion, which works out to $885 psf per plot ratio (psf ppr). This will be a 50-50 joint venture project by a UOL-SingLand consortium and CapitaLand Development.

The joint venture partners are pleased to have submitted the highest bid for a mixed-use site at Tampines Avenue 11 with direct connectivity to the upcoming Tampines North MRT station. They plan to leverage their combined expertise to transform the site into a vibrant retail-cum-residential mixed-use development integrated with a bus interchange, a community club and a hawker centre.

The residential component will offer about 1,190 residential units, while the retail and community amenities in the mixed-use development are expected to cater to the lifestyle needs of the growing residential population in Tampines North. The last awarded GLS residential site in Tampines was in 2017.