Perennial Holdings and Far East Organization announced their plans for Aurea, a luxury apartment tower situated within the Golden Mile Singapore mixed-use development on Beach Road, on Feb 6.
Designed by renowned architecture firm DP Architects, Aurea boasts 188 units across 45 storeys, covering a site area of 144,908 sq ft. The tower will also feature a link bridge connecting it to the neighbouring The Golden Mile building, which offers a mix of retail space, medical suites, and offices.
Previously known as Golden Mile Complex, The Golden Mile has been conserved for its architectural heritage, making it the first collective sale and conservation of a building. The joint venture partners purchased the building en bloc for $700 million in May 2022.
Aurea’s prime location in the Downtown Core of District 7, part of the Core Central Region (CCR), is expected to attract discerning individuals and families who appreciate the exclusivity of a prime address. “We anticipate strong interest from discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address,” says Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group.
The preview for Aurea, which is by appointment only, will begin on Feb 22, with the official launch scheduled for Mar 8. Prices for the apartments start from $2,750 per square foot.
By absolute price, the starting price for two-bedroom apartments of 646 sq ft at Aurea is $1.92 million ($2,972 psf). The development offers a variety of unit types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, comprising 112 units. There are also 56 four-bedroom units, measuring 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units, spanning 2,863 sq ft to 3,251 sq ft. In addition, there are two exclusive penthouses: a six-bedroom duplex measuring 5,608 sq ft and a six-bedroom triplex spanning 8,816 sq ft. Larger four-bedroom units and the triplex penthouse will have private lift access, and the latter will also feature a private pool. These units are expected to cater to the affluent lifestyles of CCR homebuyers, says Marcus Chu, CEO of ERA Singapore.
Singapore’s urban scenery is characterized by towering skyscrapers and modern infrastructure. In popular locations, one can find stunning condominiums that offer a balance of opulence and convenience, making them highly sought-after by both locals and foreigners. These condos boast luxurious facilities such as pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them all the more appealing to potential renters and buyers. For investors, these amenities equate to a boost in rental returns and an appreciation of property values in the long run. In fact, with Singapore Projects, the potential for growth and profits in this real estate market is even higher.
Meanwhile, the majority of units at Aurea are two- and three-bedroom apartments, making up 60% of the total units. These units are expected to appeal to both homebuyers and investors, according to Chu.
The residents’ facilities at Aurea include two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. The sky terraces on levels 17 and 33 are designed to offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.
According to Ken Low, managing partner at SRI, today’s homebuyers are looking for more than just a great location. They want a home that enhances their daily lives and is thoughtfully designed with facilities or spaces that inspire. Aurea delivers on all these aspects.
The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024. The joint venture partners intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. Ismail Gafoor, CEO of PropNex, predicts that the potential of the commercial space, especially office space, may attract buyers, given the iconic status of the former Golden Mile Complex.
He adds that buyers today prioritize quality projects near an MRT station and convenient access to essential amenities. The Golden Mile Singapore is well-connected, with an overhead bridge linking it to the Nicoll Highway MRT Station on the Circle Line.
Apart from its prime location and upscale residences, The Golden Mile’s Singapore architectural heritage is a key selling point for the project. Gafoor estimates that prices of the apartment units could cross $3,000 psf, given the strong demand for homes in the area. With a completion date set for 2Q2029, Aurea is poised to attract healthy interest from prospective homebuyers and investors.