Clavon @ Clementi Ave 1 Singapore

An upcoming new launch condo development, Clavon is coming your way at Clementi Ave 1.

Two subsidiaries of UOL Group, namely UOL Venture Investments and UIC Homes, submitted the top bid of $491.3 million for the 178,064 sq ft plot at Clementi Avenue 1. It translates to about $788 psf per plot ratio (ppr) on the maximum allowable gross floor area (GFA) of 623,229.8 sq ft. This means the potential average selling price of the new development could be about $1,400 psf, says Tricia Song, head of research for Singapore at Colliers International.

Clavon is close to The Clement Canopy, a twin 40-storey, 505-unit condo that was completed in March this year. That development is built on a GLS site also awarded to UOL Group, in 2015, when it submitted the successful bid of $302.1 million ($615 psf ppr).

“We like this Clementi Avenue 1 site for the same attributes that contributed to the 100% sell-out for our adjoining development, The Clement Canopy. From our experience, we believe that there is very strong demand for this locale due to its close proximity to a strong educational cluster anchored by NUS, NUS High School and Nan Hua High,” says Liam Wee Sin, group chief executive of UOL Group.

Things you might want to know more about Clavon @ Clementi Ave 1 District 05