United Engineers Developments Ltd (UE) has acquired a land parcel at the junction of Bendemeer Road and Whampoa East, after offering the highest bid of S$543 million (S$774 psf) in a public tender that closed on 7 April.
UE said it plans to develop an inner-city waterfront condo comprising 700 one-, two-, three- and four-bedroom units, as well as loft and penthouse units.
“The development on the site will command panoramic views of the city skyline, as well as overlook the entire Kallang River and Basin,” a spokesman from UE said.
Proposed for condominium housing, the land site has a total area of 18,618.2 sq m and a maximum gross floor area (GFA) of 65,163.7 sq m. with a gross plot ratio of 3.5.
Nearby shophouses and shopping malls such as City Square, Mustafa Centre and Serangoon Plaza will provide a wide array of shopping, entertainment and dining options to future residents of the site. It is also located within walking distance to Boon Keng MRT station along the North-East Line, as well as connected to various parts of the country via major roads and expressways.
“We believe (it) is one of the very few large private residential sites in the city or city fringe that is ideal for waterfront lifestyle condominium living. The shopping, financial and commercial districts of Orchard Road, Shenton Way and Marina South are a few minutes away by car, bus or MRT,” the spokesman said.