UOL Group Announces Joint Development Deed for Integrated Residential and Commercial Site at Hougang Central, Singapore

Key Points and Details for Investors

• Joint Venture Established: UOL Group Limited, together with Singapore Land Group Limited, Kheng Leong Company (Private) Limited, and CapitaLand Group Pte. Ltd., has formed a joint venture company—Horizon Residential Pte. Ltd. (“Residential SPV”)—with shareholdings as follows:
  • UOL: 30%
  • Singapore Land Group Limited: 10%
  • Kheng Leong Company (Private) Limited: 10%
  • CapitaLand Group Pte. Ltd.: 50%
• Commercial Component Structure: Horizon Commercial Trustee Pte. Ltd., acting as trustee of Horizon Commercial Trust (a wholly owned sub-trust of CapitaLand Integrated Commercial Trust), will develop the commercial portion of the site (“Commercial SPV”).
• Joint Development Deed (JDD): The JDD outlines the responsibilities and ownership structure for both Residential SPV and Commercial SPV in the development of the Hougang Central site. Key aspects include:
  • Ownership interests are determined based on the market value of the residential and commercial units as at the tender submission date, assessed by an agreed valuer.
  • Development costs and obligations are split between the two SPVs, with each responsible for their respective components.
  • Both SPVs will jointly undertake and share costs for the rest of the project in accordance with the JDD or mutual agreement.
• Scope of Responsibilities:
  • The Residential SPV will own and be solely responsible for the residential component, including all obligations, duties, and liabilities related exclusively to this segment.
  • The Commercial SPV will own and be solely responsible for the commercial component, including all obligations, duties, and liabilities related exclusively to this segment.

Potentially Price-Sensitive Information

• Strategic Partnership with CapitaLand: CapitaLand Group Pte. Ltd.’s significant 50% stake in the Residential SPV, combined with CapitaLand Integrated Commercial Trust’s involvement in the Commercial SPV, signals a major collaboration between two leading Singapore property entities. This could drive significant investor interest due to CapitaLand’s scale and reputation.
• Market Value-Based Ownership Structure: The allocation of interests based on market value at tender submission may impact future earnings contributions and asset valuations for participating companies, especially if market values change significantly.
• Cost-Sharing and Joint Development: The cost-sharing arrangement and collaboration on the overall project (outside of exclusive components) may affect financial performance and risk exposure for UOL and other JV partners.
• Potential Impact on Share Price: The announcement reflects UOL’s commitment to large-scale integrated developments and its ability to partner with industry giants. The market may view this positively, given the potential for increased value creation, asset growth, and future revenue streams from the project.

Additional Details for Investors

• This development is located at Hougang Central, a prominent and strategic area in Singapore, which may enhance the attractiveness of the project and potentially drive demand for both residential and commercial units.
• The announcement follows a previous disclosure made on 14 January 2026, signifying ongoing progress and execution of the company’s growth strategy.
• The JDD was officially entered into on 9 February 2026 and submitted to SGX, reflecting transparency and compliance with regulatory requirements.

Conclusion

The execution of the Joint Development Deed between UOL Group and its partners marks a significant milestone in the Hougang Central integrated development project. The strategic collaboration, clear division of responsibilities, and market value-based ownership structure may drive future asset value and investor confidence. Shareholders and potential investors should monitor further updates as the project advances, given its potential to enhance UOL’s portfolio and financial performance.

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with financial advisors before making any investment decisions. The information herein is based on company disclosures and may be subject to change.

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