Perennial Holdings and Far East Organization have revealed their latest development, Aurea, which will be a luxury apartment tower located at the Golden Mile Singapore mixed-use development on Beach Road. The tower has been designed by DP Architects and will feature 188 units spread across 45 storeys, occupying a site area of 144,908 sq ft. The tower will also have a link bridge that connects it to the neighbouring commercial building, The Golden Mile, which offers a mix of retail space, medical suites and offices.
The Golden Mile was formerly known as the Golden Mile Complex and is a conserved building due to its architectural heritage. This marks the first collective sale and conservation of a building. In May 2022, Perennial Holdings and Far East Organization purchased the building en bloc for $700 million. The project is expected to attract interest from discerning individuals and families who value a prime location within the Downtown Core and the Core Central Region (CCR), as stated by Shaw Lay See, Chief Operating Officer of Far East Organization’s Sales & Leasing Group.
Aurea’s preview, which is available by appointment only, will begin on February 22nd, followed by its official launch on March 8th. The apartments will be priced from $2,750 psf, with two-bedroom units starting at $1.92 million ($2,972 psf). The residence within Aurea offers a variety of unit types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, four-bedroom units from 1,442 sq ft to 1,798 sq ft, and five-bedroom units from 2,863 sq ft to 3,251 sq ft. The development also features two exclusive penthouses, a six-bedroom duplex spanning 5,608 sq ft, and a six-bedroom triplex of 8,816 sq ft. The larger units and penthouses will have private lift access, and the triplex penthouse will also have a private pool. These units cater to the affluent lifestyles of CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.
The project also offers various facilities for its residents, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront, adding to the allure of the development. Ken Low, Managing Partner of SRI, explains that homebuyers today look for more than just a desirable location; they also want a home that enhances their daily lives, and Aurea delivers on all these aspects.
The commercial component of the Golden Mile, which includes 156 strata office units and 19 medical suites, was launched for sale in December 2024. The joint venture partners, Perennial and Far East, plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. The location and potential of the commercial space, particularly the office space, may attract buyers, according to Ismail Gafoor, CEO of PropNex. He adds that modern buyers prioritize quality projects with convenient access to essential amenities, such as an MRT station, and Golden Mile Singapore ticks all these boxes with its location near the Nicoll Highway MRT Station and easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). Additionally, the development is just 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-min drive from the CBD.
for additional context:
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The last launch in the Beach Road neighbourhood of District 7 was Midtown Modern, a 558-unit development that is expected to obtain TOP this year. All units have been sold at an average price of $2,825 psf. The M, a neighbouring 522-unit development, was also fully sold in 2020 at an average price of $2,528 psf and was completed in March 2024. The 219-unit Midtown Bay at Guoco Midtown was completed last year, with about 63% of its units sold as of Feb 5 at an average price of $3,090 psf.
Given Aurea’s prime location, upscale residences, and the iconic architectural heritage of Golden Mile, PropNex’s CEO Gafoor believes that unit prices could cross $3,000 psf. He also anticipates strong demand for new homes in the area, considering the success of past launches in the district. Aurea is expected to be completed in the second quarter of 2029, and interested parties can check out the latest listings and property options available.…