UOL Group - DBS Research 2019-09-09: First Believers Of The Greater Southern Waterfront

UOL GROUP LIMITED (SGX:U14) | SGinvestors.io UOL GROUP LIMITED (SGX:U14)

UOL Group - First Believers Of The Greater Southern Waterfront

  • UOL’s Avenue South Residences sold 276 units - 92% of 300 units that were launched or 26% of total units.
  • Possibly the best-selling project during any launch weekend YTD.
  • Buyers mostly Singaporeans with small units the most sought after, implying investment demand could be returning.
  • UOL will be marketing the project overseas soon.



What’s New

  • UOL GROUP LIMITED (SGX:U14)’s Avenue South Residences sold 276 units, representing 92% of 300 units that were launched and 26% of total units. This is possibly the best-selling project during any launch weekend YTD. UOL’s strategy of phasing out and segmenting the project has proven to be successful. The first 300 “offer”-priced units were too hard to resist.
  • While the Heritage Collection with an average price of S$1,780psf was the most popular over the weekend, we understand that the developer did release some units from the Peak Collection (premium collection) with an average price of S$2,250psf. The mid-range, Horizon Collection’s average price is S$1,980psf.
  • We understand that buyers were mostly Singaporeans with small units (one-to two-bedroom units) as the most popular, implying that investment demand has returned for selected properties with strong growth potential in the long-term led by the Greater Southern Waterfront development.


What's Next

  • UOL will be marketing the project overseas soon as it has received enquiries from foreign buyers, potentially taking advantage of any spillover demand from HK/China investors looking at overseas properties given the chaos in HK.





Rachel TAN DBS Group Research | Derek TAN DBS Research | https://www.dbsvickers.com/ 2019-09-09
SGX Stock Analyst Report BUY MAINTAIN BUY 8.530 SAME 8.530



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