Perennial Holdings and Far East Organization have announced their latest project, Aurea, a luxury apartment tower that is part of the Golden Mile Singapore mixed-use development along Beach Road. The tower, designed by DP Architects, will consist of 188 units spread across 45 storeys. The project sits on a prime site measuring 144,908 sq ft and will include a link bridge connecting it to the neighbouring commercial building, The Golden Mile.
The Golden Mile was formerly known as Golden Mile Complex and has been preserved for its architectural heritage. It is the first building in Singapore to undergo collective sale and conservation. Perennial Holdings and Far East Organization acquired the building en bloc for $700 million in May 2022.
Aurea’s exclusive preview will begin on Feb 22 and the official launch is scheduled for Mar 8. The apartments will be priced at $2,750 psf. The units at Aurea will comprise a range of sizes, from two- and three-bedroom apartments to larger four- and five-bedroom units. There will also be two exclusive penthouses, one spanning 5,608 sq ft and the other 8,816 sq ft, both with private pools.
The four-bedroom and larger units will have private lift access, and the triplex penthouse will also include a private pool. These bigger units are expected to cater to the affluent lifestyles of CCR homebuyers, says Marcus Chu, CEO of ERA Singapore.
The remaining 60% of Aurea’s units will consist of two- and three-bedroom apartments, which are expected to appeal to both homebuyers and investors, according to Chu.
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Residents can look forward to a range of facilities at Aurea, including two infinity pools on levels three and 33, a gym, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. The sky terraces on levels 17 and 33 will offer stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.
Ken Low, managing partner at SRI, states that buyers are looking for more than just a great location in their future homes. They want homes that enhance their daily lives, with thoughtful design and inspiring facilities and spaces. Aurea is set to deliver on all these criteria.
The commercial units at The Golden Mile, including 156 strata office units and 19 medical suites, were 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.
Given the potential of the commercial space, especially office space, Gafoor believes that Golden Mile could attract buyers. He adds that today’s buyers prioritize quality projects near MRT stations and essential amenities. The Golden Mile is conveniently linked to the Nicoll Highway MRT station by an overhead bridge.
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Golden Mile Singapore is just 1km away from the Kallang Alive Precinct and the Bras Basah-Bugis district and a 10-minute drive from the CBD. The last launch in the Beach Road neighbourhood was Midtown Modern, a 558-unit development that was fully sold with an average price of $2,825 psf. The project is expected to obtain TOP this year. The M, a neighbouring development with 522 units, was fully sold at an average price of $2,528 psf and was completed in March 2024.
Another development in the area, Midtown Bay at Guoco Midtown, was completed last year. Since its launch in 2019, about 63% of the 219 units have been taken up at an average price of $3,090 psf.
PropNex’s CEO Gafoor estimates that due to its prime location, luxury residences, and the iconic architectural heritage of Golden Mile, prices at Aurea could potentially cross $3,000 psf. He believes that the project will attract healthy interest from prospective homebuyers and investors due to the past success of launches in the district.
Aurea is expected to be completed in 2Q2029. Interested buyers can check out the latest listings for Aurea properties on the market.