Avenue South Residence Price List
Avenue South Residence Direct Developer Price Update
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Avenue South Residence was released for sale by The Urban Redevelopment Authority (URA) in 2018. On 27 April 2018, the site at Silat Avenue was awarded to UOL Venture Investments Pte. Ltd., UIC Homes Pte. Ltd. and Kheng Leong Company (Private) Limited with a bid of $1.035 billion.
The land parcel is located at Silat Avenue, between the existing Silat neighbourhood and a section of the Rail Corridor across Kampong Bahru Road, with a site area of 245,975 sqft. This translates to a land cost of $1,138 psf per plot ratio (ppr). According to Tricia Song, Colliers International head of research for Singapore, based on this bid of $1,138 psf ppr, she estimates a breakeven of about $1600 psf ppr. Similarly, Edgeprop Research estimates the breakeven to be $1,641 psf ppr after accounting for all costs associated with redeveloping this plot of land at Silat Avenue.
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