Singapore developer UOL Group has revealed it is launching a 797-unit residential project at Upper Paya Lebar Road in March 2015.
Known as Botanique at Bartley, it is one of 10 major launches to look out for in 2015, according to a recent Savills report.
UOL was awarded the 20,078 sqm plot in January 2014 after it submitted the highest bid of $39.3 million, beating out six other bidders.
Offered on a 99-year lease, the site is located near Bartley MRT station and the Bartley Residences and Bartley Ridge condominiums. It is also within proximity to Maris Stella Primary and Secondary Schools.
Meanwhile, the group remains optimistic about Singapore’s housing sector.
In a statement, Chief Executive Gwee Lian Kheng said: “Though the residential property market is expected to remain soft, we believe projects with strong value propositions and in sought-after locations should continue to attract buyers.”
Last year, UOL launched two major condominiums – the 555-unit Riverbank@Fernvale and the 186-unit Seventy Saint Patrick’s, achieving sales of 50 percent and 73 percent respectively as at end-2014.
Image: Artist’s impression of Botanique at Bartley. (Photo by UOL Group)
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
