UOL Group's residential project, Pinetree Hill, located in the Mount Sinai area, is set to launch for preview on Thursday, June 29. The development is a 99-year leasehold condominium jointly developed by UOL and the Singapore Land Group (SingLand) in an 80:20 partnership. It was acquired through a successful bid of S$671.5 million at a government land tender in June 2022, which amounted to S$1,318.27 per square foot (psf) per plot ratio.
Market watchers initially anticipated that the final selling prices at Pinetree Hill would fall within the range of S$2,300 to S$2,400 psf. However, the prices for the development will start at S$2,236 psf. Pinetree Hill consists of three 24-storey towers with a total of 520 units. Among these, approximately 78 percent, or 407 units, will have one to three bedrooms.
Here are the starting prices for the different unit types at Pinetree Hill:
1. One-bedroom units: Starting from S$1.2 million, with sizes from 538 square feet (sq ft) including a study.
2. Two-bedroom units: Starting from S$1.6 million, with sizes from 700 sq ft.
3. Three-bedroom units: Starting just under S$2.2 million, with sizes from 969 sq ft.
4. Four-bedroom units: Starting at S$3.2 million, with sizes from 1,292 sq ft. These units will include private lifts.
5. Five-bedroom units: Starting at S$4.3 million, with sizes at 1,733 sq ft. These units will also include private lifts.
6. Penthouse: There is a penthouse available, spanning 2,874 sq ft.
Pinetree Hill is the first condominium launch in the Mount Sinai area in almost 15 years. The previous launch in the vicinity was SingLand's freehold condo, The Trizon, in 2009. Recent resale prices at The Trizon averaged around S$2,067 psf, with a transaction of a 2,067 sq ft unit in early June at S$4.2 million or S$2,021 psf.
Resale prices for private condo units in the vicinity of Pinetree Hill have ranged from S$1,002 psf to S$2,373 psf in the past three months. For example, a 936 sq ft unit at the 99-year leasehold condo Dover Parkview was transacted at S$1.3 million or S$1,410 psf just two weeks ago.
Pinetree Hill has garnered significant interest, with UOL Group's CEO, Liam Wee Sin, stating that there has been a "very healthy level of enquiries." This interest can be attributed to the development's central location and its proximity to popular primary schools. The condominium is situated near Dover and Clementi MRT stations on the East-West Line, as well as the upcoming Maju MRT station on the future Cross Island Line.
Adjacent to the Pinetree Hill site, another parcel at Pine Grove will soon be put up for tender under the government land sales programme. Additionally, UOL Group is expected to launch another residential project this year—the redevelopment of Watten Estate Condo, which was acquired through a collective sale in October 2021. UOL and SingLand purchased the Meyer Park en bloc in February 2023 for $392.18 million.
Sales for Pinetree Hill will commence on July 15, and the development is projected to be completed in 2027.
As a reader of Propertyforsale, you are cordially invited to the exclusive preview of Pinetree Hill by one of our featured property agents.
WhatsApp or call Andy Chia (+6583239888) to fix an appointment at the showflat and flash this Privilege Pass to gain priority access!
He will share with you Pinetree Hill floor plans, site plan and the benefits of this new launch project at Mount Sinai.