The Review Of Avenue South ResidenceEugene Koh's Property Review: Avenue South Residence by UOL group and Kheng Leong Co. UOL Group probably needs no further introduction as it is one of the biggest and most renowned property developers in Singapore and one of its major shareholders is none other than United Overseas Bank (UOB) - one of the top 3 financial institutes in Singapore.
By choosing a location that blends the tranquility of its green surroundings with the amenities of urban living, the Avenue South Residence avenue south residence condos are certain to draw attention from both investors and those looking to enjoy life in the beautiful Central Region of Singapore.
Unlike its fellow developers, developing Avenue South Residence , the firm has kept up with the financial and raised a lot of questions in the property market as it feels like the developer has somehow overpaid for the Silat Avenue website, which is situated in a relatively'untested' area with no developments.
According to Ms. Tricia Song, head of research for Singapore at Colliers International, Silat Avenue is an appealing site within two kilometers from the Central Business District, and we think the underwhelming tender outcome could be due to the large size of the site and relatively untested location, away from MRT stations”.
The government plans to transform the Southern part of Singapore into a mixed-use development, the area will attract commercial business and investment creating new employment opportunities for the locals increasing the pool of tenants looking to stay at Avenue South Residences.
The consortium behind Avenue South Residence - UOL Group (UOL), its subsidiary United Industrial Corporation Limited (UIC) and Kheng Leong Company - expects it to draw interest from both owner-occupiers and investors, pointing to upcoming projects in the vicinity such as the Greater Southern Waterfront.
As the plans come into realizations, the excitement and the anticipation builds up. One of the highlights of this development is that residents will be able to have a claim in seafront living beyond the East Coast and West Coast park together with developments near to Outram MRT Station.
UOL also has a a subsidiary called United Industrial Corporate limited (UIC) in which its stake increased to more than 50% on June 13, 2018 UIC also has developed some residential and other properties but Avenue South Residence will be their signature development in the core city centre.
Silat Avenue is an appealing site within two kilometers from the Central Business District, and we think the underwhelming tender outcome could be due to the large size of the site and relatively untested location, away from MRT stations”, said Ms Song.