Image credit: Housing & Development Board
The commercial and residential site in Tampines Avenue 11 will be integrated with a bus interchange, community club and hawker centre.
On 11 July 2023, a 50:50 joint venture project between UOL-SingLand (60:40) consortium and CapitaLand Development was awarded a mixed-use site in Tampines Avenue 11 for $1.21 billion or $885 psf ppr. The 99-year leasehold plot spans a total site area of 545,511 sq ft.
Leveraging their combined expertise, the site will be transformed into a residential and commercial development integrated with a bus interchange, a community club and a hawker centre. The development will have direct connectivity to the upcoming Tampines North MRT station.
The acquisition of the site would enable UOL Group to replenish its land bank in Singapore and diversify its commercial investment portfolio.
“Capitalising on the low residential (outside central region) inventory in the mature Tampines Regional Centre, the residential component will offer about 1,190 residential units, while the retail and community amenities in the mixed-use development are expected to cater to the lifestyle needs of the growing residential population in Tampines North. The last awarded GLS residential site in Tampines was in 2017,” UOL and CapitaLand had said in a joint statement on 27 June 2023 when they submitted the highest bid for the tender.