Singapore RE Co. UOL To Expand Locally With $132M Buy

Law360, New York (December 16, 2011, 12:26 PM EST) -- Singapore property owner UOL Group Ltd., which manages real estate throughout Asia, has agreed to buy and refurbish a residential development on its home turf for S$172 million (US$132M), the firm said Thursday.

UOL Group's Flamegold Pte. Ltd. will finance the purchase of the residential property, called St. Patrick's Garden, with its own funding and bank borrowings, the firm said in a statement. The acquisition will not impact earnings per share for the financial year ending Dec. 31, UOL said.

UOL Group bought the development from real estate services firm Colliers International, which announced the property was up...
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