
UOL slated to launch two residential projects in 1H14
After successfully unveiling Thomson Three this year.
According to OCBC Investment Research, for their domestic residential segment, UOL Group is looking to launch both remaining domestic land bank sites (Sengkang West Way and St. Patrick’s Garden) as early as 1Q14 after a fairly successful launch at Thomson Three, which is now ~76% sold with ASPs just shy of S$1.4k psf.
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In terms of replenishing its land-bank ahead, we expect UOL to take an active yet fairly prudent stance ahead; management indicated that they remain ready to seize opportunities as land prices are expected to soften head with increasing uncertainties in the sector.