The artist impression of Parktown residence.
UOL Group (controlled by the family of late baking and real estate billionaire Wee Cho Yaw) proves that about 87% of its Parktown Residence Residence Residential residential apartment projects are in Tampines of Tampines of Tampines in the city, in the suburb of Eastern Singapore nation.
Prices for 1,193 unit apartment projects (UOL is co-developing with the subsidiary Singapore Land and Capital and Capital and Development) start with a one-bedroom unit price of S$1.07 million (US$801,378) and its research price is 463 square feet (43 m2), a five-bedroom apartment of 463 m2 (43 m2), with an area of 1,679 sq. ft., up to S$3.78 million.
Parktown’s residence is located at a 99-year lease location purchased by the partner for $1.2 billion in 2023 for 50,679 square meters from his partner for $1.2 billion in a government land auction in 2023. The project includes 12 residential areas (6 to 12 stories high), connected to the retail podium, bus junction and the future Tampines North MRT station, located on Cross Island Line, a 50km subway, the The subway will connect the area when it is completed in 2032, heading west to the Bongo Digital District in the northeast and Changi District in the east.
Anson Lim, general manager of residential marketing at UOL, said in a statement: “With its excellent location and high-end, spacious apartments, Parktown Residence stands out and is a very ideal choice for homeowners looking for convenience and quality.” .”
The project rebounded in Singapore after its last quarter of 2024, with private home prices rising 2.3% in the fourth quarter after a 0.7% decline in the previous three months.
UOL Group has been actively supplementing its Landbank to capitalize on Singapore's flexible housing needs. In October, UOL, Singapore Land and Capitaland once again collaborated to buy Thomson Landscape, a residential apartment in the northern part of Bishan for S$810 million. The Partners plan to redevelop the property originally built in 1975 into 1,240-unit residential apartments.
UOL, along with Manchester United Overseas Bank, is one of the assets left by billionaire Wee Yaw, who died last February at the age of 95. With a net worth of US$7.8 billion, the Wee family is one of the wealthiest families in Singapore. The three sons of the late tycoon – Eshang, O'Chao and Ee Lim joined the Forbes Billionaire list in April this year. EE Cheong is the vice chairman and CEO of UOB, while EE Lim is the chairman of UOL.
