Sole bidder UOL JV successfully snaps up Silat Avenue site for $1.04 bil
Singapore-listed property firm UOL Group have successfully won a large residential land parcel on Silat Avenue for S$1.035 billion ($771 million). The Silat Avenue is located just the south of Singapore’s General Hospital.
The land price equates to S$1,138 ($848) per square foot. The 99-year leasehold site is zoned for a 910,099 square foot (84,551 square metre) residential development with a first-storey commercial space. The mega project of Silat Avenue will be named as Avenue South Residence, a joint venture to be developed by UOL Group’s wholly-owned subsidiaries UOL Venture Investments (UVI) and UIC Homes, together with property firm Kheng Leong Company.
At the same time, another site located at Mattar road — The Antares, near Aljunied park was won at S$223.1 million by FSKH Development — a consortium of Singapore-based firms Hock Lian Seng Holdings, Keong Hong Holdings and TA Corporation. The site was won
Located in Bukit Merah, the Silat Avenue site spanning 245,973 square feet (22,852 square metres). The future developing of the south will be integrated at the section of the Rail Corridor.
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