United Engineers said it has been awarded a turnkey contract by OCBC Bank to redevelop the former Specialists' Centre and Hotel Phoenix site. The cost of the project is worth around S$550 million. The project will be carried out in two phases. Phase 1 will consist of the development and construction of a hotel-cum-retail mall and a pedestrian bridge, and Phase 2 will be the construction of an...
United Engineers
UNITED Engineers (UE) has acquired an industrial property that it will use as its headquarters in Ang Mo Kio Street 64 for $25.18 million. It will be centralising most of its business operations - including its headquarters currently located in UE Square in the River Valley area - at the new property by the end of the year. The group will then rent out its prime headquarters space at UE Square, which...
UNITED Engineers (UE) has bought two industrial buildings at Ang Mo Kio for about $25 million, as part of plans to grow its portfolio in build-to-suit properties. Motorola owned the two buildings - Motorola Innovation Centre and Motorola Excellence Centre. They will collectively be known as UE BizHub Central after the ownership change. The two complexes have a total gross floor area (GFA) of 378,426 sq...
Construction firm United Engineers has acquired an industrial property in Ang Mo Kio for about S$25 million. The property to be renamed UE BizHub Central comprises two buildings. It has a seven-storey and a four-storey building linked by a skybridge with a total gross floor area of about 378,000 square feet. United Engineers plans to further modernise and expand the property's gross floor area to up to...
THE on-again, off-again redevelopment of the prime Specialists' Shopping Centre and Hotel Phoenix site in Orchard Road is back on the agenda after a two-year break. OCBC Bank announced yesterday that it is in talks with construction and property group United Engineers Limited (UEL) to build a hotel and mall on the land. But the original player lined up for the project - the Straits Trading Company - is...
Singapore-listed United Engineers Limited said that its third quarter net profit jumped to S$12.7 million, from S$1.9 million in 2008. The firm's revenue increased 18 per cent on-year to S$169.5 million. United Engineers said the improved revenue was mainly due to the progressive recognition of revenue from its property sales. These include sales at The Rochester in one-north and Park Central @ AMK in...
United Engineers reported a 593 per cent improvement in net profit surge to S$8.5 million in the first quarter of this year. Revenue for the company also grew 11 per cent to S$148.9 million. The company said this is mainly due to progressive recognition of revenue from the sales of its residential projects, The Rochester in one-north and Park Central @ AMK in Ang Mo Kio. United Engineers said it has an...
Mainboard-listed United Engineers has sold more than 70 per cent of its first public housing project, Park Central @ AMK, which is being developed by its subsidiary Greatearth Developments. All four-bedroom and penthouse units are sold out. The developer received more than 2,300 applications or four times the number of units available for sale when submissions closed in August. The 578-unit estate is...
The next six months look set to be bumpy for the private residential property sector, with market watchers predicting prices to head south by about 10 per cent. And real estate agents and developers are likely to get creative in driving sales and keeping costs down. Builder and developer United Engineers will focus on infrastructural projects elsewhere in the region, while the Singapore property market...