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Pine Grove GLS site awarded to UOL-led group for S$671.5m

The Urban Redevelopment Authority (URA) has awarded GLS tender for Pine grove – Parcel A to United Venture Development-No.5 (UVD). United Venture Development (No.5) is a 80:20 joint venture between UOL Group and Singapore Land Group. The developer had submitted the highest bid of  S$671.5 million, translating to S$1,318 psf ppr of GFA.

The site sits on a plot area of 22,534.7 sqm at Pine Grove. It is located off Ulu Pandan Road in District 10 of Singapore.

The GLS tender drew a total of 5 bids, including offers from Allgreen Properties, City Development and tied up between Chip End Seng Corp and Sinhaiyi Group.

UOL led group winning bid was only $800 higher than the second-highest bid from Allgreen Properties, and $48.4m higher than the thrid-highest bid submitted by a tie-up between Chip End Seng Corp and Sinhaiyi Group.

UOL expects the site to yield about 520 residential units up to 24 Storey high.

The Land Parcel is bounded by Ulu Pandan Road to the north, Pine Grove and Astor Green condominiums to the south, and Pandan Valley condominium to the east. It is designated for residential development within the Bukit Timah Planning Area. It is located within an established private residential area that comprises medium-density (GPR 2.1) condominiums. It is also well connected to major roads and expressways such as Ayer Rajah Expressway (AYE), Clementi Road, Ulu Pandan Road and Holland Road.

The Land Parcel is well-served by bus services that ply Ulu Pandan Road and within easy reach of the Ulu Pandan Park Connector and upcoming Clementi Nature Trail, and nearby educational institutions such as Henry Park Primary School, Pei Tong Primary School, and School of Science and Technology, Singapore. It is located in proximity to retail and lifestyle amenities such as Holland Village, Star Vista, The Clementi Mall and Grantral Mall @ Clementi.

Pine Grove Condo Highlights:

• About 1km of Clementi and Dover MRT station along the East West Line(EWL)
• Convenient transfer to the Circle Line via the nearby Buona Vista interchange station, one stop away. This provides future residents with good connectivity to Buona Vista One-North Regional Centre and the Central Business District.
• Located near the vibrant and thriving enclave of Holland Village, discover many amenities within easy reach for work and leisure such as Orchard Road, Dempsey Hill and one-north. Find places for art and culture, retail amenities, food and beverage outlets, services such as banks, a post office and hospitals, reputable schools and parks all within the immediate vicinity.

• Proximity to established nearby educational institutions such as Henry Park Primary School, Pei Tong Primary School, and School of Science and Technology.
• Retreat home surrounded by parks and view of pandan valley and landed estate. The Land Parcel is within easy reach of the Ulu Pandan Park Connector and upcoming Clementi Nature Trail.
• Premium modern homes with various bedroom types. Residents can look forward to a retreat home with finely crafted lifestyle facilities such spa pools, wellness gym, gourmet dining facilities and exclusive private space.

Pinetree Hill By UOL – Location Map

Pine Grove – Parcel A URA GLS Successfully Clinched By UOL-SingLand JV for S$671.5m

News Media – June 02, 2022

UOL Group and Singapore Land Group (SingLand) Joint-Venture submitted the highest bid of $1318 psf ppr for  Pine Grove – Parcel A.

At the price tag of S$671,500,800, the deal is a mere $800 higher than the second highest bid submited. There has not been a new launch in the area in more than 10 years. The last GLS site in the neighbourhood was The Serenade @ Holland back in 2001. UOL anticipates healthy demand given its location in the established private residential enclave of Mount Sinai Rise.

The Land Parcel is bounded by Ulu Pandan Road to the north, Pine Grove and Astor Green condominiums to the south, and Pandan Valley condominium to the east. It is designated for residential development within the Bukit Timah Planning Area. It is located within an established private residential area that comprises medium-density (GPR 2.1) condominiums. It is also well connected to major roads and expressways such as Ayer Rajah Expressway (AYE), Clementi Road, Ulu Pandan Road and Holland Road.

The Land Parcel is well-served by bus services that ply Ulu Pandan Road and within easy reach of the Ulu Pandan Park Connector and upcoming Clementi Nature Trail, and nearby educational institutions such as Henry Park Primary School, Pei Tong Primary School, and School of Science and Technology, Singapore. It is located in proximity to retail and lifestyle amenities such as Holland Village, Star Vista, The Clementi Mall and Grantral Mall @ Clementi.

Clementi and Dover MRT stations on the East West Line are about 1km away.

““Given the site’s strong attributes, we expect to see keen interest from both homebuyers and investors“

Business Times – UOL’s chief investment and asset officer Jesline Goh

Pine Grove By UOL

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