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UOL-UIC joint venture buys Potong Pasir site for S$334m

Latest deal catapults year-to-date en bloc sales to over S$1b, as analysts anticipate market upturn

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Published Thu, Oct 6, 2016 · 09:50 PM

    Singapore

    THE en bloc purchase of Raintree Gardens in Potong Pasir by a joint venture (JV) of UOL Group and United Industrial Corporation (UIC) brings the total value of successful en bloc deals in Singapore so far this year to over S$1 billion. The latest deal follows similar successful attempts with Shunfu Ville and Harbour View Gardens in the past six months.

    This is a huge improvement from the S$380 million worth of en bloc deals in 2015 and zilch in 2014 - although it definitely still pales in comparison to 2010-2013, when the average annual value of successful deals was S$1.87 billion.

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