UOL Group has been purchasing en-bloc sites for the past 2 decades, with the first one being Novena Suites in 1997. It has been one of the best way to replenish our landbank inventory via collective sales and also a great source of precious freehold land in Singapore.

We have purchased 45 Amber Road, a 70,000-square foot land for $156 million from developer Sin Lai Huat in a private treaty during early 2017. Translating into a $1,063 psf ppr for this freehold site.

Many may not be aware, we’ve bought this site before the bull run of current collective sales. Ever since then, prices in the prime district 15 community have risen.

As luck would have it, we’ve managed to secure such a wonderful parcel and at a reasonable price tag before everything else.

Liam Wee Sin, deputy group CEO of UOL Group