A residential site at Clementi Avenue 1 was awarded to top bidder UOL-UIC consortium at $491.3million or $788.31psf per plot ratio, slightly higher than second placed MCL Land $755.75psf ppr under the tight 5 parties competition.
UOL likes the similar characteristic of the land parcel to the sold out project by the developer at Clement Canopy located nearby, Chief Executive Mr Liam Wee Sin said.
The positive bid also potential stir up interest of taking up private property in the good location with mature amenities including MRT station and renowned schools in the surrounding. Property at Clementi generally attracts home seekers and investors nearby including those working or studying in One-North, Science Park and National University of Singapore (NUS).
The developer is banking on the close proximity of commercial, industrial and educational facilities which draw strong demand in housing and looking to add value to the location by bringing a quality lifestyle development to the publics.
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