21 Sep '17, 5am

UOL to ride on housing market rebound

The Raintree Gardens site was purchased in a UOL-led joint venture for $334.2 million. (Photo: JLL) UOL Group is expected to benefit from the recovery in Singapore’s housing market as it had managed to acquire development sites at good prices, reported the Singapore Business Review . In particular, KGI believes that the property firm’s two upcoming project launches in 2018 have favourable prospects given the anticipated upswing in the residential sector. For instance, UOL recently purchased a site at 45 Amber Road for $156 million, or $1,117 psf. This is “a relatively good deal” as it’s 15 percent cheaper than the possible collective sale of nearby Amber Park condo for about $768 million ($1,284 psf). SEE ALSO: UOL to acquire freehold site at 45 Amber Road for S$156mil For the Amber Road project, the developer could achieve a profit before tax (PBT) margin of around 15 per...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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