SINGAPORE – On the official launch day on 7 September, UOL Group sold 276 out of 300 units released at Avenue South Residence. The sales translates to 26% of the total 1,074-units in the residential project developed jointly by UOL Group, UIC and Kheng Leong Co.
Most of the buyers were mostly Singaporeans, comprising a mix of investors and owner occupiers, according to Jesline Goh, chief investment and asset officer of UOL Group. The most popular units were the one- and two-bedroom units while the three- and four-bedroom units also saw healthy take-up amongst families.
Being located at the junction of Kampong Bahru Road and Silat Avenue, on the doorstep of the Greater Southern Waterfront and nearby to the Rail Corridor, many buyers are especially attracted to the growth potential of this precinct and the unique proposition of Avenue South Residence.
The Heritage Collection which comprises only 86 units in five conserved blocks that were built by the former Singapore Improvement Trust (SIT), the predecessor of HDB, were also among the most sought after. The developer is planning to release another 200 units on September 8 which will include units from the Peak Collection from the 37th to the top floors of the twin towers.
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