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UOL Group And UIC Awarded Residential Site Tender By URA

Shares Investment

UOL Group has announced that the Urban Redevelopment Authority (URA) has awarded the tender submitted by its wholly-owned subsidiary UOL Venture Investments and Singland Home, a subsidiary of United Industrial Corporation (UIC) for the residential site at Clementi Ave 1 at a tender price of $302.1 million.

A joint venture company will be incorporated by the group and UIC on a 50:50 basis respectively to undertake the proposed development of the site. The acquisition and development of the site would enable the group to replenish its land bank for residential development in Singapore.



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