Avenue South Residence, SingaporeEugene Koh's Property Review: Avenue South Residence by UOL group and Kheng Leong Co. UOL Group probably needs no further introduction as it is one of the biggest and most renowned property developers in Singapore and one of its major shareholders is none other than United Overseas Bank (UOB) - one of the top 3 financial institutes in Singapore.
The $1.04 billion submitted by UOL Group, UIC and Kheng Leong has raised tons of questions from the property market as it seems like the developer has avenue south residence somehow overpaid for the Silat Avenue site, which is situated in a relatively ‘untested' area with almost no private residential developments around.
UOL Group probably requires no additional introduction as it is one of the most important and most famous property developers in Singapore and a few of its major investors are none besides United Overseas Bank (UOB) — one of the best 3 financial institutes in Singapore.
With the acquisition of the majority equity of Singapore Land Limited, a well-established property company in 1990, the Group became a major real estate developer with a portfolio of 2.5 million sqft of office space and 1 million sqft of retail space in Singapore.
The government plans to transform the Southern part of Singapore into a mixed-use development, the area will attract commercial business and investment creating new employment opportunities for the locals increasing the pool of tenants looking to stay at Avenue South Residences.
Jointly collaborated by UOL, United Industrial Corp and Kheng Leong, Avenue South Residence is a huge 99-years leasehold development conveniently located in District 3. Comprising of 2 residential buildings (1074 residential units), 5 conservation buildings and 8 commercial units (13,993 sqft of commercial space), this project will be one of the tallest condominium development in Singapore; standing at a high of 56 storeys tall.
With the development of Greater Southern Waterfront which is a five-minute drive from Avenue South Residence, and the expansion of two Integrated Resorts - Resorts World Sentosa and Marina Bay Sand which is expected to birth 5,000 new jobs; we can look forward to more housing, commercial and entertainment opportunities in these areas.
The condominium development is located in District 19, which is on the corner of Sengkang Central and Compass vale Bow and will be easily accessible from the closest stations in Buangkok (NE15), the Renjong Station, as well as the Ranggung LRT Station.
Extending from Pasir Panjang to Marina East, the transformation of the Greater Southern Waterfront, comprising over 2,000 hectares of prime waterfront land, will contribute to a dynamic city centre with exuberant business and lifestyle opportunities.