Perennial Holdings and Far East Organization have announced plans for Aurea, a luxury apartment tower located within the Golden Mile Singapore mixed-use development on Beach Road. The 45-storey tower, designed by DP Architects, will feature 188 units and occupy a site area of 144,908 sq ft. It will also have a link bridge connecting it to the neighbouring The Golden Mile, a commercial building with a mix of retail space, medical suites, and offices.
The Golden Mile, formerly known as Golden Mile Complex, is a conserved building with a rich architectural heritage. It is also the first collective sale and conservation of a building. In May 2022, Perennial Holdings and Far East Organization acquired the building en bloc for $700 million.
According to a representative from Far East Organization’s sales & leasing group, the luxurious Aurea residences and its prime Downtown Core address are expected to attract a lot of interest from discerning individuals and families. The appointment-only preview for Aurea will begin on Feb 22, with the official launch to follow on Mar 8. The apartments in Aurea will start from $2,750 psf.
Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, situated in highly sought-after locations, offer a perfect combination of opulence and convenience, making them a popular choice among both Singaporeans and expatriates. These residential complexes boast a plethora of desirable amenities, including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living for their residents and making them a desirable option for potential tenants and property buyers. These enticing features not only attract tenants and buyers but also guarantee high rental returns and appreciating property values for investors in the long run. And with the addition of Singapore Projects, the selection of luxurious condominiums in Singapore is even more diverse and appealing.
By absolute price, a two-bedroom apartment of 646 sq ft at Aurea will start from $1.92 million ($2,972 psf). The development comprises various unit types, from two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft (112 units) to four-bedroom units from 1,442 sq ft to 1,798 sq ft (56 units). There are also 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft, as well as two exclusive penthouses, one a six-bedroom duplex spanning 5,608 sq ft and the other a six-bedroom triplex of 8,816 sq ft. The larger four-bedroom units and penthouses will have private lift access, and the triplex penthouse will also come with a private pool.
These larger units cater to the affluent lifestyles of homebuyers in the Core Central Region (CCR), according to Marcus Chu, CEO of ERA Singapore. Meanwhile, the two- and three-bedroom units make up 60% of the apartments in Aurea and are expected to appeal to both homebuyers and investors.
Residents at Aurea will have access to amenities such as two infinity pools, a gym, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. Sky terraces on levels 17 and 33 are also expected to offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.
According to Ken Low, managing partner at SRI, modern homebuyers are looking for more than just a great location. They also want a home that enhances their daily lives, is easily accessible, thoughtfully designed, and offers facilities or spaces for inspiration. Aurea satisfies all these requirements.
In December 2024, the 156 strata office units and 19 medical suites in The Golden Mile were launched for sale. Perennial and Far East Organization plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. According to Ismail Gafoor, CEO of PropNex, the iconic status of the former Golden Mile Complex and the potential of the commercial space, especially the office space, may attract buyers.
Gafoor adds that modern buyers prioritize quality projects near an MRT station and with convenient access to essential amenities. The Golden Mile Singapore is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-min drive from the CBD. It also 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 neighbourhood of District 7 was Midtown Modern, a 558-unit residential project in 2021. As of December 2024, all units have been sold at an average price of about $2,825 psf, and the project is expected to obtain TOP sometime this year.
Midtown Modern was preceded by the neighbouring 522-unit development, The M, in 2020. The entire development has completely sold out at an average price of $2,528 psf and was completed in March 2024. Midtown Bay, a 219-unit residential project at Guoco Midtown, was also completed last year. Since its debut in 2019, about 63% of the units have been taken up as of Feb 5 at an average price of $3,090 psf.
Considering Aurea’s location, upscale residences, and the Singapore architectural heritage of The Golden Mile, Ismail Gafoor estimates that prices of the apartment units could cross $3,000 psf. He believes that Aurea may attract healthy interest among prospective homebuyers and investors, given the pent-up demand for new homes in the area.
Aurea is expected to be completed in 2Q2029. Interested buyers can check out the latest listings for Aurea properties and compare price trends of Condo new sale vs EC new sale, projects that obtained TOP recently, any condo rental listings in District 7, and price trends of new sale condo vs resale condo and condo sale transactions in District 7.