Perennial Holdings and Far East Organization have recently revealed their plans for a new luxury apartment tower, named Aurea, in the Golden Mile Singapore mixed-use development along Beach Road.
The 45-storey residential tower, designed by DP Architects, will house a total of 188 units on a site area of 144,908 sq ft. It will also feature a link bridge connecting it to the adjacent commercial building, The Golden Mile, which offers a mix of retail space, medical suites, and offices.
The Golden Mile, formerly known as Golden Mile Complex, has been conserved for its architectural heritage and marked the first collective sale and conservation of a building. In May 2022, Perennial Holdings and Far East Organization acquired the building en bloc for $700 million.
According to Shaw Lay See, chief operating officer of the sales & leasing group at Far East Organization, Aurea’s prime location in District 7 within the Downtown Core and Core Central Region (CCR) is expected to attract interest from discerning buyers who appreciate the exclusivity of a prime address.
The appointment-only preview of Aurea will begin on Feb 22, with the official launch on Mar 8. Prices of the apartments will start from $2,750 psf, with two-bedroom units of 646 sq ft starting from $1.92 million ($2,972 psf).
Aurea will offer a variety of unit types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft (112 units), four-bedroom units from 1,442 sq ft to 1,798 sq ft (56 units), and five-bedroom units from 2,863 sq ft to 3,251 sq ft (18 units). There will also be two exclusive penthouses, a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex spanning 8,816 sq ft.
Units with four bedrooms and larger will have private lift access, and the triplex penthouse will also come with a private pool. These larger units are expected to cater to the affluent lifestyle of CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.
The majority of the units at Aurea (60%) will be two- and three-bedroom apartments, which are expected to appeal to both homebuyers and investors, adds Chu.
Residents of Aurea can enjoy various facilities, including 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 will provide breathtaking views of the CBD skyline, Marina Bay, and the Kallang waterfront.
Ken Low, managing partner at SRI, says that today’s homebuyers are looking for more than just a great location. They also want a home that enhances their daily lives, is thoughtfully designed, and offers inspiring facilities or spaces. He believes that Aurea delivers on all these aspects.
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In December 2024, the joint venture partners Perennial and Far East Organization launched the sale of 156 strata office units and 19 medical suites at The Golden Mile. They intend to retain ownership of the two-storey retail atrium to curate the tenant mix.
Ismail Gafoor, CEO of PropNex, highlights the iconic nature of the former Golden Mile Complex and its potential commercial space, especially its office space, which may attract buyers. He also mentions that buyers today prioritize high-quality projects near an MRT station and convenient access to essential amenities. The Golden Mile Singapore is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD. It also offers easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE).
The last launch in the Beach Road neighborhood of District 7 was Midtown Modern, a 558-unit development, in 2021. All units at Midtown Modern have been sold as of December 2024 at an average price of about $2,825 psf, and the project is expected to obtain TOP this year.
The launch of Midtown Modern was preceded by The M, a 522-unit development, in 2020. The entire project was 100% sold at an average price of $2,528 psf and was completed in March 2024.
Midtown Bay, a 219-unit project at Guoco Midtown, was completed last year. Since its launch in 2019, about 63% of its units have been taken up as of Feb 5 at an average price of $3,090 psf.
Gafoor estimates that due to its location, upscale residences, and conservation of Golden Mile’s architectural heritage, prices of the apartment units at Aurea could surpass $3,000 psf. He believes that the project may attract healthy interest from prospective homebuyers and investors due to the high demand for new homes in the area.
Aurea is estimated to be completed in 2Q2029. Interested buyers can check out the latest listings for Aurea properties.