Buying frenzy at AMO Residence ups the ante on whether more property cooling measures are needed

Champagne may be flowing in the boardrooms of UOL Group and its consortium partners Singapore Land Group and Kheng Leong Group. The UOL-led consortium sold over 98 per cent of the 372 units of 99-year leasehold private residential development, AMO Residence, the years first major new launch in the Outside Central Region (OCR), by the first day of its launch on Jul 23. Based on market talk, pricing achieved was roughly around the S$2,100 per square foot level.