UOL-SingLand JV tops bidding for Orchard Boulevard site
It proposed a bid price of $428m.
The Urban Redevelopment Authority (URA) closed the tender for the Orchard Boulevard site with four bids led by United Venture Development, a joint venture by UOL and SingLand.
United Venture Development proposed a bid price of $428m for the 99-year leasehold property.
“This is the first residential land parcel released in the Orchard/Tanglin area since 2018. UOL and SingLand are planning to develop a high-rise luxury development of 36 storeys or more, capitalising on the panoramic views,” UOL Group Chief Executive Liam Wee Sin said.
The other three bidders were Valerian Residential ($418); Winchamp Investment ($408m), and SL Capital ($394m).
URA launched the tender on 17 October 2023.
The land parcel on Orchard Boulevard has a total site area of 7,031.4 m², with a maximum GFA of 24,610 m².
The site is slated to be developed into a residential building with commercial space on the first floor.