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UOL’s en-bloc acquisition of Meyer Park condominium at a total purchase consideration of $392.18 million, was accepted by the property’s Sale Committee.

The freehold condominium with a land area of 96,672 sq ft, was acquired through an 80:20 joint venture with its property subsidiary, Singapore Land Group.

Strategically located in District 15, the development is close to established schools such as Tao Nan Primary School, Kong Hwa School, Dunman High School and Victoria Junior College.

UOL Group Chief Executive, Mr Liam Wee Sin, said: “This acquisition is a timely replenishment, especially with the recent 100% sell-out of our MEYER HOUSE development. Given its freehold tenure and exclusive locale, we see the opportunity to develop this site into a luxury development with about 230 to 250 units in a high-rise block to capitalise on the unblocked views.”

Mr Liam added: “The site is in proximity to the upcoming Katong Park MRT station, recreation facilities along East Coast Park and popular schools such as Tao Nan Primary School, Dunman High School and Victoria Junior College, among others. Leveraging our experience in developing luxury collections and the strong attributes of the site, we expect to see keen interest from both homebuyers and investors looking for a prime newly built high-rise residential development with freehold tenure, which is increasingly rare.”