UOL previews Avenue South Residence with prices from $858,000

The 99-year leasehold Avenue South Residence comprises 1,074 residential units and close to 10,000 sq ft of commercial facilities, including F&B outlets and a childcare centre (Credit: UOL Group)
SINGAPORE (EDGEPROP) - Singapore-listed property firm UOL Group is releasing 300 units at the 99-year leasehold Avenue South Residence at its preview on Aug 30. With 1,074 residential units and close to 10,000 sq ft of commercial facilities including F&B outlets and a childcare centre, the project on Silat Avenue will have twin 56-storey towers and five conserved four-storey apartment blocks.
Developed by UOL, United Industrial Corp (UIC) and Kheng Leong Co in a 50:30:20 joint venture, Avenue South Residence capitalises on its proximity to the 24km-long Rail Corridor and the Greater Southern Waterfront (GSW).
Units at Avenue South Residence are categorised into three collections to accommodate varying homeowners’ and investors’ needs – Heritage Collection, Horizon Collection and Peak Collection, with respective average prices of $1,780 psf, $1,980 psf and more than $2,250 psf for the initial launch. The development has a mix of one- to four-bedroom apartments ranging from 474 to 1,688 sq ft.
Around 70% of Avenue South Residence comprises one- and two-bedroom apartments. Prices start from $858,000 for a one-bedroom unit and $1.15 million for a two-bedroom unit. The project is marketed by PropNex, ERA Realty Network, SRI and Huttons Asia.
“Half of the project is priced below $1.5 million to offer buyers plenty of choice units to capitalise on the area’s growth story,” says Liam Wee Sin, UOL group chief executive. The project is expected to be completed in 2023.

Attractive pricing

The preview comes hot on the heels of the 2019 National Day Rally speech in which Singapore Prime Minister Lee Hsien Loong identified the GSW as a key project in the remaking of Singapore.
Stretching across 30km of the southern coastline from Gardens by the Bay East to Pasir Panjang, the GSW will cover a 2,000ha swathe of land – six times the size of Marina Bay and double the size of Punggol. It includes the PSA city terminals at Tanjong Pagar, Keppel, and Brani, which will be relocated to Tuas by 2027; as well as Pasir Panjang Terminal, following its relocation to Tuas Port by 2040.
On the back of this...