{"id":104451,"date":"2019-02-27T11:36:41","date_gmt":"2019-02-27T04:36:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-group-to-launch-two-condo-projects-in-second-quarter\/"},"modified":"2019-02-27T12:03:08","modified_gmt":"2019-02-27T05:03:08","slug":"uol-group-to-launch-two-condo-projects-in-second-quarter","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-group-to-launch-two-condo-projects-in-second-quarter\/","title":{"rendered":"UOL Group to launch two condo projects in second quarter"},"content":{"rendered":"


\nThe upcoming Avenue South Residence near the 24km-long Rail Corridor is touted as one of Singapore\u2019s tallest condominiums.
\nDeveloper UOL Group is preparing to launch two residential projects in Singapore during the second quarter of 2019, according to an SGX filing on Tuesday (26 Feb).
\nOne of them is MEYERHOUSE, a 56-unit freehold condominium near the future upcoming Tanjong Katong MRT station on the Thomson-East Coast Line (TEL).
\nSEE ALSO:\u00a0The complete guide to buying a new launch condo in Singapore
\nTouted as the \u201cNassim Residences of the East\u201d, the development at 92-128 Meyer Road is being undertaken via 50:50 joint venture with Kheng Leong. The freehold condo will contain big format units standing on a site spanning 10,185 sq m.
\nThe other residential project is the Avenue South Residence close to the 24km-long Rail Corridor.
\nAside from its central location that provides panoramic views of the Greater Southern Waterfront area, the 56-storey project is being touted as one of Singapore\u2019s tallest condominiums.
\nWith a gross floor area (GFA) of 84,551 sq m, the mixed-use project will offer 1,300 sq m of commercial space and around 1,074 residential units. It is being developed by UOL, UIC and Kheng Leong.
\nMeanwhile, UOL Group reported that it sold 448 residential units with a combined value of about $676 million in Singapore last year. Its top-selling projects were The Clement Canopy (82 units), Amber45 (96 units) and The Tre Ver (245 units).
\nHowever, the group\u2019s earnings slumped by 51 percent year-on-year to $433.7 million in 2018 due to a one-off gain of $535.6 million arising from the consolidation of United Industrial Corporation (UIC) in 2017. If this hefty contribution is excluded, the groups\u2019 net profit would have increased by 26 percent.
\nAs for revenue, it rose by 13 percent to $2.4 billion in 2018 in light of the full-year consolidation of the expanded group\u2019s income.
\nHowever, contributions from its property development business fell by 15 percent to $989.3 million as Alex Residences and Principal Garden were completed in September 2017. The drop in revenue was partially mitigated by the launch of Amber45 in May 2018, in addition to higher income from The Clement Canopy in Singapore and Park Eleven in Shanghai.
\nCan you afford a condo in Singapore? Check your\u00a0affordability\u00a0now.\u00a0Get more details on the\u00a0property market outlook for 2019
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…UOL Group to launch two condo projects in second quarter<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The upcoming Avenue South Residence near the 24km-long Rail Corridor is touted as one of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104451","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-raH","jetpack-related-posts":[{"id":91370,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-condo-after-good-sales-at-amber45\/","url_meta":{"origin":104451,"position":0},"title":"UOL to launch new condo after good sales at Amber45","date":"June 14, 2018","format":false,"excerpt":"\r Artist\u2019s impression of The Tre Ver, an upcoming condominium project in Potong Pasir. (Photo: UOL Group) UOL Group\u2019s freehold Amber45 condominium in District 15 continues to draw buyers, with about 65 percent of the 139 units already sold, up from 55 to 60 percent during the launch in mid-May,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":142795,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-group-chief-executive-liam-wee-sin-discusses-luxury-trends-and-consumer-shifts\/","url_meta":{"origin":104451,"position":1},"title":"UOL Group Chief Executive Liam Wee Sin Discusses Luxury Trends and Consumer Shifts","date":"February 27, 2024","format":false,"excerpt":"\r UOL Group Chief Executive Liam Wee Sin Discusses Luxury Trends and Consumer ShiftsSingapore\u2019s luxury residential market has proven to be remarkably resilient despite global headwinds, with new developments poised to continue appealing to long-term investors attracted to strong market fundamentals. 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In particular, KGI believes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101566,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-condo-showflats-to-visit-this-weekend\/","url_meta":{"origin":104451,"position":3},"title":"5 condo showflats to visit this weekend","date":"November 23, 2018","format":false,"excerpt":"\r A crowd of potential buyers checking out Parc Esta\u2019s showflat. (Photo: MCL Land) Thinking of buying a new home soon?\u00a0 Well, to help you with your house hunting, we have come up with a list of recently opened condo showflats that you can visit this weekend. 1. Parc Esta\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140379,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/watten-house-sells-57-of-units-during-launch-weekend-rainwater-leak-costs-condo-owner-60000-and-more\/","url_meta":{"origin":104451,"position":4},"title":"Watten House Sells 57% of Units During Launch Weekend, Rainwater Leak Costs Condo Owner $60,000, and More","date":"November 20, 2023","format":false,"excerpt":"\r Watten House Sells 57% of Units During Launch Weekend, Rainwater Leak Costs Condo Owner $60,000, and More15 to 20 November 2023 Watten House, UOL Group and Singapore Land Group\u2019s (SingLand) freehold condominium project in District 10, sold 57% or 102 of its 180 units during its private preview on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/11\/watten-house-condo-singapore1-2.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":104497,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/okp-holdings-to-launch-two-residential-projects-soon\/","url_meta":{"origin":104451,"position":5},"title":"OKP Holdings to launch two residential projects soon","date":"February 28, 2019","format":false,"excerpt":"\r Artist\u2019s impression of The Essence, a new condominium that\u2019s close to the upcoming Springleaf MRT station. 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