CapitaLand Development (CLD) and UOL Group have announced the High Court of Singapore’s approval for their collective acquisition of Thomson View Condominium, a significant en bloc transaction valued at $590 million (S$810 million). This joint venture, split equally between CLD and UOL, received backing from over 80% of the condominium’s residents by strata area and share value.
The strategic acquisition, located along Upper Thomson Road, offers panoramic views and excellent connectivity, being adjacent to Upper Thomson MRT Station. Ronald Tay, CEO of CLD (Singapore), and Liam Wee Sin, Group Chief Executive of UOL, expressed their enthusiasm in a joint statement: “We are pleased to expand our joint venture portfolio with this strategic acquisition. The progress of this sale puts us on track to leverage our combined expertise to rejuvenate and contribute to the vibrancy of this prime estate.”
The 5-hectare site is poised to benefit from its proximity to lifestyle amenities like Thomson Plaza, reputable schools such as Ai Tong School, and a network of parks and nature reserves. This acquisition is part of CLD’s and UOL’s broader strategy to enhance their portfolios with prime real estate developments.
Further details on the development plans for Thomson View Condominium will be released in due course, promising to transform the area into a vibrant community hub.
“`
