UOL Group and its associate complete acquisition of Raintree Gardens

WEE Cho Yaw-controlled UOL Group, with its listed associate United Industrial Corporation, has completed the en bloc purchase of Raintree Gardens in Potong Pasir.

The acquisition is done via UVD (Projects) Pte Ltd, a 50:50 joint venture between UOL group and United Industrial Corporation.

The leasehold property at 110-112 Potong Pasir Avenue 1 will be redeveloped into a project with about 750 units, UOL said in its results released on May 12.

It is looking to begin sales in 2018 for the project.

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