Sole bidder UOL JV snaps up Silat Ave site for $1.04 bil in URA tender

SINGAPORE (May 17): UOL Group has submitted the only and winning bid of $1.035 billion to acquire the residential site at Silat Avenue.

The leasehold site at Silat Avenue has a tenure of 99 years and a total site area of 245,972 sf. The area is allowed to be developed into a residential site with commercial use and with conservation of five existing buildings.

Wholly-owned subsidiary UOL Venture Investments (UVI), UIC Homes and Kheng Leong Company (KLC) were jointly awarded the tender by Urban Redevelopment Authority (URA) which closed on April 26. 

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