SINGAPORE (Aug 28): A consortium led by UOL Group will start the public preview of Avenue South Residence, a 56-storey condominium at Greater Southern Waterfront on Friday.

The condo features a total of 1,074 units – half of which are priced below $1.5 million. The development will comprise units ranging from one-bedroom to four-bedroom apartments. One-bedroom units start from $858,000 while two-bedroom units begin from $1.15 million.

The apartment units are spread across two 56-storey towers and five conserved four-storey apartment blocks, featuring facilities such as a clubhouse, fully-equipped fitness suite, barbecue pavilions, a 50m lap pool, and a mini golf course.

Avenue South Residence is the first major residential project at the doorstep of Singapore’s Greater Southern Waterfront, which has been identified as one of the key projects in the remaking of Singapore.

The consortium comprises UOL, UOL’s subsidiary United Industrial Corporation (UIC) and Kheng Leong Company with stakes in the proportion of 50:30:20. The land parcel was awarded to the consortium in May last year at $1.035 billion or $1,138 psf based on gross floor area.

UOL chief executive Liam Wee Sin says, ““We see Avenue South Residence as a first-of-its-kind condominium and an early mover to tap the upside potential of mega projects in the vicinity, namely the Greater Southern Waterfront, the Rail Corridor and the SGH Campus. The 56-storey super high-rise towers, conservation of heritage architecture and its direct access to the 24km-long Rail Corridor, offer buyers a distinctive and differentiated living environment.”

Shares in UOL closed 4 cents higher at $7.22 on Wednesday.


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