Review on UOL and Kheng Leong Emerged As The Developer of The Watergardens at Canberra condo
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The largest of the two Canberra Drive sites, The WaterGardens at Canberra, has been awarded to United Venture Development by the Urban Redevelopment Authority (URA). This comes after the developer submitted the highest bid of $270.2m or $650 psf ppr for the site. The site was listed on the Government Land Sales (GLS) programme.
United Venture Development is jointly owned by UOL Venture Investment (fully owned by UOL), a subsidiary of UIC (fully owned), and Kheng Leong Company Pte Ltd. UDV under UOL owns the majority shares of 50% while the remaining is shared between UIC and Kheng Leong Company on a 30:20 ratio respectively.
The WaterGardens at Canberra has a total site area of 27,566.1 sq m and a GFA of 38,593 sq m GFA. It is expected to house up to 455 units with an allowable height of 5 storeys or 35- 50 meters. The site attracted a total of 4 bids. The second-highest bid of $257.9 million was from a partnership of MCC Land (Singapore) and Greatview Group. CSC Land Group (Singapore) submitted the lowest bid at $240 million.
The site is strategically situated in an established residential area in Sembawang. The WaterGardens at Canberra is well connected to Sembawang Road and Seletar Expressway and sits within a walking distance from Canberra MRT station.
The WaterGardens at Canberra enjoys easy access to various amenities including Sembawang Primary School, and a great shopping destination, Sembawang Shopping Centres. Canberra Park and the upcoming Woodlands General Hospital are within a reasonable distance. The excellent location of The WaterGardens at Canberra will allow future residents to enjoy unmatched convenience