UOL set to launch MeyerHouse and Avenue South Residence in Q2 2019
Both new launch condos will be situated along Meyer Road and Silat Avenue
One of the most reputable property developers in Singapore, UOL Group has announced plans to launch two private residential projects in Singapore during the second quarter of 2019.
Sitting on the former en bloc site of Nanak Mansions, MeyerHouse will consist mainly of larger unit types from 3-bedroom to 4-bedroom apartments, and penthouse. There won’t be any 1-bedroom or 2-bedroom units at MeyerHouse.
It was noted that the Nanak Mansions en bloc cost UOL around $201 million ($1,429 psf ppr) back in September 2017.
The other development targeted to be launched in the second quarter is Avenue South Residence. It will consist of two 56-storey residential towers and a total of 1,074 private homes within the condominium project.
Located along Silat Avenue, most of the units in the 99-year leasehold Avenue South Residence condo will have panoramic views of Southern region which is home to the Greater Southern Waterfront project.
The Silat Avenue GLS site was acquired back in April 2018 for a whopping $1.035 billion ($1,138 psf ppr).
According to reports, UOL Group has not given an indicative price guide for both projects. However, the developer is confident to see a good take-up rate for these new launches as the supply for new private homes in the area is relatively low.
UOL has also added that some of their existing projects, such as Amber 45 (launched during May 2018) is already 71 percent sold while the Tre Ver at Potong Pasir (launched in August 2018) has 40 percent of its units sold.