Singapore has long been renowned for its impressive and modern urban landscape, characterized by towering skyscrapers and advanced infrastructure. A prominent feature of this landscape is the abundance of luxurious condominiums, strategically located in prestigious areas. These condos offer the perfect blend of luxury and convenience, making them highly sought after by both locals and foreigners alike. Boasting state-of-the-art amenities such as swimming pools, fitness centers, and top-notch security services, these residential units elevate the standard of living for their residents. As a result, they are in high demand among potential renters and buyers, making them a sound investment for investors. With their highly desirable features, condo owners can expect to see higher rental returns and a steady increase in property value over time, making them a lucrative choice for investment opportunities.
Investing in real estate requires careful consideration of location, and this is especially important in Singapore. Condos located in central areas or in close proximity to important amenities, such as schools, shopping centers, and public transportation, have a higher potential for value appreciation. Prime locations in the country, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Families also prioritize the proximity to reputable schools and educational institutions, making condos in these areas a highly desirable investment option. With the addition of Condo, these properties become even more attractive for potential investors.
CDL, Frasers Property and Sekisui House to launch 777-unit The Orie on Jan 3The highly anticipated launch of The Orie, a 777-unit private condo, is set to take place on Jan 3, with its official launch following on Jan 18. Located on Lorong 1 Toa Payoh, the project is a joint venture between developers City Developments Limited (CDL), Frasers Property and Sekisui House. Spread across two 40-storey towers, the units are a mix of one-bedroom plus study apartments ranging from 517 sq ft to five-bedroom units of 1,453 sq ft. Prices for the units start from $1.28 million for a one-bedroom plus study, $1.48 million for a two-bedroom, $2.09 million for a three-bedroom, $2.92 million for a four-bedroom and $3.48 million for a five-bedroom with an exclusive private lift. The Orie marks the first new launch of a private condo since 2016, when the 578-unit Gem Residences was launched and completed in 2020. The joint venture secured the government land sales (GLS) site for The Orie at a record-high bid of $968 million, translating to a land rate of $1,360 psf per plot ratio (ppr). The three developers have a 50:25:25 split in the joint venture, with CDL taking the majority share.”We are thrilled to kick off the New Year with the launch of The Orie, the first private residential development in Toa Payoh in over eight years,” says Sherman Kwek, group CEO of CDL. He adds that the project’s location in the highly sought-after and vibrant Toa Payoh estate will be a major draw for homebuyers due to its central location and excellent connectivity. The Orie is a five-minute walk to Braddell MRT Station on the North-South Line (NSL) and is near the Toa Payoh Integrated Transport Hub, which is slated for completion in 2030. The 12-ha development will include a sports centre with swimming pools, indoor sports halls and other amenities, a football stadium, a polyclinic and a public library. Other amenities in the area include the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall and MacRitchie Reservoir. The Orie is also near reputable schools such as Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools and First Toa Payoh Primary School. As for healthcare facilities, they include Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital and Thomson Medical Centre. Located in District 12 in the city fringe or Rest of Central Region (RCR), The Orie provides easy access to the CBD and Orchard Road shopping belt, notes Soon Su Lin, CEO of Frasers Property Singapore. The Orie is a low-energy development that boasts over 40 condominium facilities. Units feature efficient layouts, quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung. Takehisa Yanagi, managing officer and head of international development department at Sekisui House, says the project marks a new partnership between the Japanese developer and CDL. However, he adds that Sekisui House and Frasers Property have collaborated on projects in Singapore for the past 13 years. The latest transactions at Gem Residences, which is also located in Toa Payoh, show a median transaction price of $1,675 psf, with the latest transaction recorded on Nov 23, 2019. A total of 18 units were sold in 2019, compared to nine units in 2018. Don’t miss out on the opportunity to own a unit at The Orie – the first private launch in Toa Payoh in over eight years. Book your appointment for Jan 3, and don’t forget to view the latest listings for The Orie properties on EdgeProp.