Are you looking for a great place to increase your property portfolio in Singapore? Look no further than the UOL Group’s upcoming launches in Pine Grove and Watten Estate in 2023! With attractive prices, excellent facilities and easy access to major transport hubs, these two residential projects are sure to be a hit. Read on to find out more about what they have to offer.
Introduction to UOL Group
UOL Group is one of Singapore’s leading developers and construction firms. Established in 1963, the Group has an extensive portfolio of property investments and developments, ranging from residential to commercial projects both locally and abroad. The Group is also looking to further expand its landbank replenishment efforts in the first half of 2023, with the launch of both the Pine Grove and Watten Estate projects. UOL Group’s Chief Investment and Asset Officer has expressed great optimism for these developments, which are expected to redefine Singapore’s skyline with their innovative designs. With the help of their Smart Urban and Real Estate Advisory Team, UOL is confident that these projects will provide sustainable growth for the Group in the years to come.
UOL’s 80:20 Joint Venture with Singapore Land Group
UOL Group’s joint venture with Singapore Land Group has resulted in several successful land acquisitions. In June last year, the two companies won the Pine Grove site in a government land tender through an 80:20 joint venture. This could potentially have an approximate selling price of $2,495 psf according to EdgeProp’s Landlens tool. In February 2023, UOL and SingLand won the tender for Watten Estate Condominium (WEC) in what may be the biggest deal of this kind. The 90% stake in the WEC project was given to a 20:80 joint venture company between UOL and Singapore Land Group (SGX:U06). With this acquisition, UOL is replenishing its landbank and is set to launch several projects in 2023. These will include Tre Pines by United Venture Development, a joint venture between UOL and Singland Group near Ulu Pandan and Clementi. With a vision to build smart urban solutions, UOL Group is aiming to continue its successful collaborations with Singapore Land Group as it targets launches for both Pine Grove and Watten Estate in 2023.
UOL’s Replenishment of Landbank
UOL Group is committed to replenishing the Land Bank of the Philippines. It was awarded a Pine Grove (Parcel A) site for $671.5 million in 2020. This acquisition funded by bank loans is part of the company’s long-term strategy to develop and invest in residential developments. UOL Group is set to target launches in Pine Grove and Watten Estate in 2023, with the goal of providing quality housing for the Filipino people. It is also planning to preview its upcoming 520-unit residential development at Pine Grove by the end of 1H2023. UOL’s Chief Investment and Asset Officer, Liu Thai Ker, has expressed his confidence in the strength of the real estate market and has stated his commitment to creating a positive impact on urbanisation in the country.
Projects in the Pipeline for 2023
UOL Group has two projects in the pipeline for 2023, with launches targeted for Pine Grove and Watten Estate. Pine Hill by UOL & Singland Group is located in an exclusive parkside enclave and offers luxurious homes with premium interiors and unmatched amenities. The former Watten Estate is a 372-unit project located at Ang Mo Kio Avenue, developed by UOL Group & Singland. UOL Group is looking to replenish their landbank and build on their recent awards, such as the WA100 2023 ranking for top real estate company. UOL Group’s Chief Investment and Asset Officer has expressed his view that the projects in the pipeline this year will be instrumental in furthering their goals of providing smart urban and real estate solutions.
Former Watten Estate Development
UOL Group and Singapore Land Group (SingLand) have joined forces to develop the former Watten Estate Condominium located at 36 Shelford Road. The freehold development has a land area of 220,241 sqft and gets a plot ratio of 1.4. The project launch is targeted for the end of 2023 and UOL’s Chief Investment and Asset Officer, Mr. Victor Tan has expressed his confidence in this project, asserting that it has “strong sales potential”. UOL has replenished its landbank with this project to prepare for future growth, as the company continues to strive towards its goals of becoming a leading real estate and urban solutions provider.
Project Launch Target and Site Details
UOL and Singapore Land Group (SingLand) are targeting their first launch of the year in Pine Grove, a 520-unit residential development. Located within 1km of Henry Park Primary School, the project features garden-themed luxury homes with 80% landscape coverage. The Watten Estate Condominium, which is located on Gilstead Road, has been acquired by UOL and SingLand through a joint venture (JV). The development will provide freehold tenure and a large site area of 43457sqm. The estimated land price was $70,000,000 with a launch target set for the second half of 2023. According to UOL’s Chief Investment and Asset Officer, this replenishment of the landbank is part of UOL’s strategic goal to create sustainable long-term value for its shareholders across the Asia Pacific region. With the help of its Smart Urban and Real Estate Advisory Team, UOL is primed to launch these projects in 2023 with great success.
UOL’s Chief Investment and Asset Officer’s View on the Property
UOL Group’s Chief Investment and Asset Officer, Jesline Goh, has expressed her views on the acquisition of the Watten Estate Condominium and Pine Grove sites. In a press release, she notes that the acquisition is a timely replenishment for UOL Group as most of their projects have already been launched. She also believes that the acquisition of these two sites will enable UOL to launch new residential developments in 2023 and beyond. Goh also believes that their projects will provide a much-needed boost to Singapore’s real estate market by providing more housing options for those looking to purchase or rent in the city. With UOL Group’s commitment to creating smart and sustainable urban developments, these two sites are expected to bring about positive changes to Singapore’s real estate landscape.
UOL’s Goals for the Future
UOL Group has ambitious plans for the future, with an emphasis on sustainability and innovation. In addition to developing the Pine Grove and Watten Estate sites, they are committed to replenishing their landbank and continuing to grow their portfolio. UOL’s Chief Investment and Asset Officer has stated that the company is looking to capitalize on market trends and capitalize on opportunities to provide quality residential developments. UOL also has plans to work with the Smart Urban and Real Estate Advisory Team to create new opportunities for investment in the ever-changing real estate landscape. With continued focus on sustainability, innovation, and growth, UOL is setting a path for success in the years ahead.
Smart Urban and Real Estate Advisory Team
UOL Group boasts an impressive Smart Urban and Real Estate Advisory Team, led by their Chief Investment and Asset Officer. The team is responsible for the successful acquisition of projects like Pine Grove and Watten Estate, which will be launched in 2023. UOL’s strategy is to continuously replenish their landbank and build a portfolio of quality developments catering to different segments of the market. The team works diligently to identify opportunities, assess risk, and manage development projects from start to finish. UOL is confident that the team’s expertise and knowledge in the real estate industry will add value to their future projects.
The conclusion of UOL Group’s ambitious foray into property development is a positive one. With the help of their 80:20 joint venture with Singapore Land Group, they are continuing to replenish their landbank and develop projects that will bring value to their customers. UOL’s Chief Investment and Asset Officer has commented that the property market is looking up and they are well-positioned to launch their projects in Pine Grove and Watten Estate by the end of 2023. The Smart Urban and Real Estate Advisory Team is also looking forward to this launch and are confident that it will be a success. UOL’s goal is to create quality homes that will benefit future generations, and Pine Grove and Watten Estate will be an important part of this journey.