The Clement Canopy is a joint development project, being developed by UOL Venture Investments Pte. Ltd. and SingLand Homes Pte Ltd. The two developers have joined hands to put forth a new residential complex in Clementi, which is one of the most developed areas in West Singapore. The developers won the tender for the land parcel allocated for the project for a total price of SGD 302.1 million.
The UOL Venture Investments Pte. Ltd. is a wholly owned subsidiary of UOL Group Limited. The company was incorporated in 1963 under the name, Faber Union Ltd. However, in 1973, United Overseas Bank Ltd. acquired a controlling stake in the company, and then renamed the developer to United Overseas Land Limited in 1975. The company again changed its name to a shorter UOL Group Limited, in 2006. Since its inception, the company has been involved in many development projects. The developer has been a major name behind some of the biggest projects during the 70s and 80s such as Faber Gardens, Thomas Hills, White House Park, and the more recent transformation of Tiong Bahru and Novena in the 2000s. It has grown aggressively over years by acquiring a large amount of land, and developing them into thriving residential and commercial spaces. The developer also has interests in many hotel properties. It owns premium hotels like the Plaza Hotel, New Park Hotel, Pan Pacific Hotel, and many other international properties. The developer is a well-established name in Singapore, China, Malaysia, Australia, and many other countries.
SingLand Homes Pte Ltd. is the second developer behind the Clement Canopy project. SingLand They are a subsidiary of one of the biggest property investment and development companies in Singapore, Singapore Land Limited. Incorporated in 1963, Singapore Land Ltd. is one of the first real estate investment and development companies of the country to be publicly listed. It has almost 1 million sq.ft. of residential property and a whopping 2.2 million sq.ft. of commercial space under its belt in Singapore. Singapore Land Ltd. is responsible for the development of big ticket projects like Marina Square, West Mall, Clifford Centre, Singapore Land Tower, The Gateway, Tampines Plaza, and the SGX Centre. The company’s assets are located in both prime and suburban areas and it has played a big role in shaping up the modern Singapore.
In 1990, Singapore Land Limited was acquired by UIC Limited. This acquisition has given way to one of the largest property companies and one the most important players in the Singaporean real estate landscape.
In 2015, both the developers came together to forge a partnership that resulted in United Venture Development (Clementi) Pte. Ltd., with Real Estate development being its core activity.
With such names backing the Clement Canopy project, it is only obvious that a great investment opportunity has presented itself to the buyers. They are both well-known players in Singapore with major projects in their portfolios. This reputation of the developers is a big plus for the property and it will only reap the investor excellent returns in the future.