Parktown Residence Developer

On June 27, 2023, a consortium, Topaz Residential Pte Ltd submitted the highest bid at $1.206 billion for the land at Tampines Avenue 11. The consortium consist of UOL Group (SingLand), CapitaLand Development and Singapore Land (SingLand), CapitaLand will hold a 50% stake in the joint venture, with UOL and SingLand holding the remaining 50%

This works out to be $885 per square foot (psf) per plot ratio (ppr). The bid was higher by 13.9% than the second highest bid from Pine II Commercial & Pine II Residential, units of Allgreen Properties.

They bid $1.06 Billion or $777 PSF PPR. The 545,314 square feet site is located at Tampines Ave 11 and will be leased for 99 years.

Parktown Residence, the future mixed-use project will include a residential and commercial development, as well as a bus interchange and community club.

About Parktown Residence Developers:

CapitaLand

CapitaLand Development (CLD) serves as the development division of CapitaLand Group, boasting a substantial portfolio valued at S$21.6 billion as of 31 March 2024. With a primary focus on Singapore, China, and Vietnam, CLD excels in various asset classes, including integrated developments, retail, office, lodging, residential, business parks, industrial, logistics, and data centres. Its exceptional expertise in master planning, land development, and project execution has garnered esteemed recognition, such as the Building and Construction Authority Quality Excellence Award and FIABCI Prix d’Excellence Award.

UOL Group Limited

Since its inception in 1963, UOL Group Limited has been synonymous with quality real estate development, investment, and management in Singapore. With a commitment to architectural excellence, sustainable practices, and community engagement, UOL has established itself as a trusted developer with a diverse portfolio of residential, commercial, and hospitality projects.

SingLand

Singapore Land Limited (SingLand), a subsidiary of UIC Limited, has been at the forefront of Singapore’s real estate development for over five decades. Established in 1963, SingLand has played a pivotal role in shaping the city-state’s skyline with its iconic residential, commercial, and mixed-use developments.

SingLand is renowned for its commitment to excellence, innovation, and quality. The company’s portfolio includes some of Singapore’s most prestigious developments, known for their architectural brilliance, luxurious amenities, and prime locations. SingLand’s projects are synonymous with sophistication and elegance, setting the benchmark for premium urban living.