Perennial Holdings and Far East Organization have revealed their plans for a new luxury apartment tower called Aurea, which will be part of the Golden Mile Singapore mixed-use development. The tower, designed by DP Architects, will have 188 units spread across 45 storeys and occupy a site area of 144,908 sq ft. It will be connected to the neighbouring commercial building, The Golden Mile, via a link bridge.
Formerly known as the Golden Mile Complex, The Golden Mile has been conserved for its architectural heritage and was the first building to undergo collective sale and conservation. Acquired by Perennial Holdings and Far East Organization for $700 million in May 2022, the building now features a mix of retail space, medical suites, and offices.
Aurea, with its prime address on Beach Road, is located in District 7 of the Downtown Core and the Core Central Region (CCR). According to Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group, the project is expected to attract interest from individuals and families who value the exclusivity of a prime Downtown Core address.
The project’s preview will be available by appointment from Feb 22, with the official launch taking place on Mar 8. Prices for the apartments will start from $2,750 psf.
When considering purchasing a condo, it is crucial to factor in the upkeep and management of the property. Condominiums usually require maintenance fees that cover the maintenance of common areas and amenities. While these fees may increase the overall cost of owning the condo, they also ensure that the property remains in excellent condition and retains its value. Employing a property management firm can also assist investors in managing the day-to-day operations of their condo, making it a more hands-off investment.
The apartments at Aurea consist of a variety of unit types. There are 112 two- and three-bedroom units ranging from 635 sq ft to 1,001 sq ft, 56 four-bedroom units from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft. Additionally, there are two exclusive penthouses – a six-bedroom duplex of 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft. The larger four-bedroom units and penthouses feature private lift access, with the triplex penthouse also having a private pool. Marcus Chu, CEO of ERA Singapore, says that these larger units will cater to the affluent lifestyles of CCR homebuyers.
Additionally, 60% of the apartments at Aurea are made up of two- and three-bedroom units, which are expected to be popular among both homebuyers and investors, according to Chu.
Residents of Aurea can enjoy a range of facilities, including two infinity pools on levels three and 33, a gym, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 are expected to provide stunning 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 and offers convenient access to amenities. He believes that Aurea delivers on all these fronts.
The commercial units at The Golden Mile, which include 156 strata office units and 19 medical suites, were launched for sale in December 2024. The joint venture partners intend to retain ownership of the two-storey retail atrium to curate the tenant mix. According to Ismail Gafoor, CEO of PropNex, the iconic former Golden Mile Complex has significant potential, especially for office space, which could attract buyers. He notes that buyers today prioritize quality projects with easy access to amenities and MRT stations. An overhead bridge links The Golden Mile to the Nicoll Highway MRT Station on the Circle Line.
Located just 1km from the Kallang Alive Precinct, Bras Basah-Bugis district, and a 10-minute drive from the CBD, Golden Mile Singapore 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 the 558-unit Midtown Modern in 2021. All units have been sold as of Dec 2024 at an average price of around $2,825 psf, with the project expected to obtain TOP this year. The launch of Midtown Modern was preceded by the 522-unit The M in 2020, which is now 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, and 63% of the units have been taken up since its debut in 2019 at an average price of $3,090 psf.
Given Aurea’s location, upscale residences, and the conservation of Golden Mile’s architectural heritage, Gafoor estimates that apartment prices could go beyond $3,000 psf. He predicts that the project will attract significant interest from homebuyers and investors, as most units at past launches in the district have been sold. Aurea is expected to be completed in 2Q2029.…