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3 Things You Should Know About UOL Group

UOLLogoUOL Group (SGX: U14) is one of Asia’s largest property companies and through its subsidiaries engages in the real estate, retail and hospitality businesses.

Founded in 1963, the company was formerly known as United Overseas Land Limited, changing its name to UOL Group in 2006.

It operates in five segments: Hotel Operations, Property Investments, Property Development, Management Services and Investments.

UOL’s Hotel Operations includes 19 hotels and serviced apartments throughout Singapore, Australia, Vietnam, Malaysia, Myanmar and China, including the Pan Pacific Singapore Hotel and PARKROYAL Kuala Lumpur. The company also owns Singapore’s United Square Mall, Velocity@Novena Square, and The Plaza and has interests in Marina Square Shopping Mall and Mandarin Oriental Hotel.

UOL’s residential properties in Singapore include The Regency At Tiong Bahru, one-north Residences and One Amber.

The group also manages the St. Gregory chain of spas across Singapore, Malaysia, Japan, China and Vietnam.

But did you know…

  1. UOL Group’s chairman, Dr Wee Cho Yaw’s father founded United Overseas Bank (SGX: U11) – one of Singapore’s largest bank by market capitalization.
  2. Dr Wee Cho Yaw is also Chairman of United Overseas Bank and United Industrial Corporation Limited (SGX: U06) and Non-Executive Chairman of the Haw Par Group (SGX: H02). And he still finds time for his role as Pro-Chancellor of Nanyang Technological University.
  3. Dr Wee Cho Yaw is Singapore’s 4th richest individual, estimated to be worth a cool $5.3bn and currently features at position 248 in the Forbes’ World’s Billionaires list.

The UOL Group and subsidiaries have won numerous accolades, including the Silver Award for Best Residential Development at the MIPIM Asia Awards 2012, for its Duchess Residences.

Nassim Park Residences received an ‘Honourable Mention’ at the Singapore Institute of Architects Architectural Design Awards 2012. The company also won one of the BCI Asia Top 10 Developer Awards 2013 (Singapore).

Back in May, UOL announced that it planned to take the Pan Pacific Group  (SGX: H49), of which it owns 81.6%, private. Last month it proposed a voluntary delisting of the hotel group.

As for the future, the company numerous projects in the pipeline and is due to open Thomson Three, its newest condominium, this weekend.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Alison Hunt doesn’t own shares in any companies mentioned.