Liam Wee Sin's daugher purchased a two-bedroom premium at the 301-unit UpperHouse at Orchard Boulevard (Artist's Impression: UpperHouse website)
In an SGX filing on July 29, UOL Group announced that an option has been granted to Jeanette Liam Yuexi, daughter of its group CEO and director, Liam Wee Sin, for the purchase of a two-bedroom premium unit at UpperHouse on Orchard Boulevard.
Jeanette Liam paid $2.231 million ($3,189 psf) for the 700 sq ft unit located on the 10th floor of the 35-storey tower.
According to UOL, “the proposed sale is on terms no more favourable than those available to unrelated purchasers during the same sale phase”. The company added that Liam abstained from voting on all board resolutions related to the proposed sale to his daughter.
UpperHouse at Orchard Boulevard is a 301-unit, 99-year leasehold luxury condominium located at the corner of Orchard Boulevard and Grange Road in prime District 10. The development is adjacent to the Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The project, jointly developed by UOL Group and its subsidiary Singapore Land Group, was launched on Saturday, July 19. By noon on July 20, about 162 units (54%) had been sold. Based on caveats lodged as at July 29, the average price achieved was around $3,353 psf.
According to the developer, interest was seen across all unit types, ranging from one-bedroom plus study to four-bedroom suites. The two-bedroom premium plus study units were the most popular, with 60 out of 67 sold at prices ranging from $2.338 million to $2.72 million, or $3,060 to $3,560 psf.