Avenue South ResidencesEugene Koh's Property Review: Avenue South Residence by UOL group and Kheng Leong Co. The area not only has the benefit of a 99-year lease, but it also has zoning designated for at least 910,000 square feet that can be utilized for storefronts on the first story of the property and residences on the second story of it. The property was awarded to the lone bidder, which was the UOL Group and their subsidiaries.
When the project completes in 2026 the towers will overtake another pair of residential buildings in Singapore - the 140-metre-high avenue south residence floor plan Clement Canopy built by Construction company Bouygues Bâtiment International as the world's tallest prefabricated towers.
UOL Group probably requires no additional introduction as it is one of the most important and most famous property developers in Singapore and a few of its major investors are none besides United Overseas Bank (UOB) — one of the best 3 financial institutes in Singapore.
With the acquisition of the majority equity of Singapore Land Limited, a well-established property company in 1990, the Group became a major real estate developer with a portfolio of 2.5 million sqft of office space and 1 million sqft of retail space in Singapore.
The government plans to transform the Southern part of Singapore into a mixed-use development, the area will attract commercial business and investment creating new employment opportunities for the locals increasing the pool of tenants looking to stay at Avenue South Residences.
Future residents of Avenue South Residence will not only be pampered by the convenience of the public transport, several amenities and iconic locations will be part of the enjoyment that can be readily found near the vicinity such as Tiong Bahru Plaza, VivoCity, HarbourFront Center, Chinatown, Central Business District (CBD) and many more.
As the plans come into realizations, the excitement and the anticipation builds up. One of the highlights of this development is that residents will be able to have a claim in seafront living beyond the East Coast and West Coast park together with developments near to Outram MRT Station.
As the government recently released more information on future development plans for the Greater Southern Waterfront and the CBD under the 2019 URA Master Plan , it does seem to be a big draw for those who are considering to buy a unit at Avenue South Residence.
Extending from Pasir Panjang to Marina East, the transformation of the Greater Southern Waterfront, comprising over 2,000 hectares of prime waterfront land, will contribute to a dynamic city centre with exuberant business and lifestyle opportunities.