Perennial Holdings and Far East Organization have announced their latest project, Aurea, a luxury apartment tower located in the Golden Mile Singapore mixed-use development along Beach Road. This 45-storey tower, designed by DP Architects, offers 188 units and sits on a sprawling 144,908 sq ft site.
Set to launch on March 8, Aurea has already received much interest due to its prime location in District 7, which falls within the Core Central Region (CCR) of the Downtown Core. The development boasts a link bridge connecting it to The Golden Mile, a commercial building that houses retail spaces, medical suites, and offices. The Golden Mile, formerly known as Golden Mile Complex, has been conserved for its architectural heritage and marks a significant milestone as the first collective sale and conservation of a building.
Aurea will feature a range of unit types, including two- and three-bedroom apartments, four- and five-bedroom units, and two exclusive penthouses. The larger units will also come with private lift access, and the triplex penthouse will have a private pool. With its exclusive offerings, Aurea is expected to appeal to discerning individuals and families who appreciate the prestige of a prime address in the Downtown Core.
Some of the luxurious facilities that residents can look forward to at Aurea include two infinity pools, a gymnasium, a bouldering wall, spa facilities, and multiple dining pavilions. Sky terraces on levels 17 and 33 will offer breathtaking views of the city skyline, Marina Bay, and the Kallang waterfront. Ken Low, managing partner at SRI, says, “Today’s homebuyers are looking for more than just a great location. They want a home that enhances their daily lives – one that is easy to get around, thoughtfully designed and facilities or spaces that inspire. Aurea delivers on all this.”
When purchasing a condo, it is crucial to take into consideration the maintenance and management aspects of the property. Typically, condos come with maintenance fees that cater to the upkeep of common areas and amenities. While these fees may increase the overall cost of ownership, they play a vital role in preserving the property’s condition and value. Opting for a property management company can aid investors in handling the day-to-day operations of their condo, making it a more passive investment.
The Golden Mile is also set to be an exciting development, with 156 strata office units and 19 medical suites up for sale in December 2024. Perennial and Far East plan to retain ownership of the two-storey retail atrium and curate the tenant mix. Ismail Gafoor, CEO of PropNex, believes that the potential of the commercial space, especially office space, could attract buyers.
Aurea’s strategic location also offers convenient access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). The development is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.
The Beach Road neighbourhood of District 7 has seen recent launches such as Midtown Modern and The M, both of which are 100% sold at an average price of $2,825 psf and $2,528 psf, respectively. The 219-unit Midtown Bay at Guoco Midtown, completed last year, has already sold 63% of its units at an average price of $3,090 psf. With Aurea’s upscale residences and prime location, PropNex’s CEO Ismail Gafoor predicts that prices of the apartment units could exceed $3,000 psf.
Aurea is expected to be completed in 2Q2029.