and United Industrial Corporation (UIC) have jointly put in the winning bid of $491.3 million for the residential site located at Clementi Avenue 1. The tender was jointly submitted by the UOL’s wholly-owned subsidiary UOL Venture Investments, and UIC Homes, a wholly-owned subsidiary of UIC.
A joint venture company will be incorporated to undertake the acquisition and development of the site, with UOL Venture Investments and UIC Homes owning an 80:20 stake.
UOL is one of Singapore’s leading public-listed property companies with an extensive portfolio of development and investment properties, hotels and serviced suites.
UOL strongly believes in delivering product excellence and quality service in all our business ventures. Our list of property development projects includes residential units, office towers and shopping malls, hotels and serviced suites. UOL, through our hotel subsidiary Pan Pacific Hotels Group Limited (PPHG), owns and/or manages over 30 hotels, resorts and serviced suites in Asia, Oceania and North America under two acclaimed brands, namely “Pan Pacific” and PARKROYAL.
Our unwavering commitment to architectural and quality excellence is reflected in all our developments, winning us prestigious awards such as the FIABCI Prix d’Excellence Award, Aga Khan Award for Architecture, Urban Land Institute Awards for Excellence and President Design Award.
As we stay true to our core values, building on Passion, Innovation, Enterprise, Corporate Social Responsibility and People, we continue to leverage our strengths to create long-term value for our stakeholders.