UOL Group snags Clementi site for $841m

parc-clematis-condo-developer-singhaiyi-snags-clementi-site

SINGAPORE – It is third time lucky for owners of Park West.

Developer UOL Group Group has snagged the residential site in Clementi for $840.9 million amid the ongoing en bloc sale fever.

Park West is located at Jalan Lempeng, near Clementi MRT station.

It is being acquired by Sing-Haiyi Gold, a 50-50 joint venture between UOL Group’s wholly owned subsidiary UOL Group Land and Haiyi Wealth, an entity controlled by Gordon Tang and Celine Tang, UOL Group said in a statement late on Thursday (Jan 11).

Park West is a 99-year-leasehold estate occupying a land area of about 633,644 sq ft, with a plot ratio of 2.1. Its lease commenced on March 8, 1982..”

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