The development of the Southern Waterfront Gateway benefits Avenue South Residence

UOL, in conjunction with United Industries (UIC) and Kheng Leong, won the land of Avenue South Residence in May last year, when it was unexpectedly the only bidder with a price tag of $1,035.3 million. The price is equivalent to $1138 per square foot.

Speaking of the current property market situation, the president said that although the cooling measures have the effect of regulating the price increase, the property market is still resilient. The private housing prices are still rising in the first half of the year, and the private residential subscription rate is also better than the second half of last year, indicating the potential of buyers' strong demand.

On the other hand, the unstable social situation in Hong Kong seems to have prompted more Hong Kong buyers to buy houses in Singapore. Asked about this, UOL's president said that he did not notice such a trend, but he said: "Singapore's political stability has always been regarded as an investment heaven, so it will always attract foreign buyers to buy property here."

Avenue South Residence opened its sales showroom on Friday and will officially launch on September 7.

In addition to Avenue South Residence, this weekend's new debut project also includes the Luxus Hills, a landed residential project in the Seletar private residential area. A total of 78 land-based dwellings were launched, all of which were 999-year title deeds. The price of each dwelling ranged from $3.05 million to $4.2 million.