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UOL, Kheng Leong unit clinch Nassim Park for S$380m
By Loh Kim Chin, Channel NewsAsia | Posted: 30 August 2006 2038 hrs

SINGAPORE : United Overseas Land, together with a subsidiary of Kheng Leong, has bagged the exclusive condominium Nassim Park in the prime Tanglin area for S$380 million.

The 245,000 sq ft site has a plot ratio of 1.4 times and can yield over 343,000 sq ft in gross floor area.

The sale and purchase of the freehold property is subject to the developers obtaining a Qualifying Certificate from the Controller of Residential Property and the Strata Titles Board Order.

Nassim Park was completed in 1992 and is surrounded by embassies, good class bungalows and high-end developments.

UOL will acquire and redevelop the property through bank borrowings.

- CNA /ls