UOL Group, consortium lands $1.17 billion tender for Singapore integrated site

Singapore Land

14/01/2026 10:44

Jan 14 (Reuters) - A consortium that includes Singapore's UOL Group UTOS.SI has won a government tender for S$1.50 billion ($1.17 billion) for a major integrated residential and commercial site in the city-state, the developer said on Wednesday.

The consortium comprises UOL and Singapore Land's SIND.SI indirect joint venture Horizon Residential and a sub-trust of CapitaLand Integrated Commercial Trust CMLT.SI, the companies said in a filing.

The tender was awarded by Singapore's Housing and Development Board.

The companies said the leasehold site will be developed into a mixed-use project integrating the residential and commercial space with a metro rail transit station, a bus interchange and a town plaza.

Under the deal structure, Horizon Residential will develop the residential component for sale, while the CapitaLand Trust unit will develop and retain ownership of the commercial portion.

UOL said the acquisition, which would help replenish its land bank for residential development in Singapore, would be financed mainly through bank borrowings and shareholder loans.

($1 = 1.2870 Singapore dollars)

 (Reporting by Roshan Thomas in Bengaluru; Editing by Shreya Biswas)

 ((Roshan.Thomas@thomsonreuters.com;))