Perennial And Far East Preview 188 Unit Aurea Golden Mile Singapore Feb 22
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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 project, designed by renowned architectural firm DP Architects, will consist of 188 units across a 45-storey tower, spanning a site area of 144,908 sq ft.
The tower will be linked to the neighbouring commercial building, The Golden Mile, which is a conserved property for its architectural heritage. This marked the first collective sale and conservation of a building in Singapore. The building was acquired en bloc for $700 million by Perennial Holdings and Far East Organization in May 2022.
Aurea is located in District 7, which is part of the Downtown Core and the Core Central Region (CCR). The prime location on Beach Road is expected to attract individuals and families who appreciate the exclusivity of living in the Downtown Core, according to Shaw Lay See, Chief Operating Officer at Far East Organization’s sales & leasing group.
The preview for Aurea will begin on Feb 22, and the launch is set to take place on Mar 8. The apartments will be priced from $2,750 psf. Two-bedroom apartments, starting from $1.92 million ($2,972 psf), comprise the majority of the units at Aurea.
The different types of units at Aurea include two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, four-bedroom units from 1,442 sq ft to 1,798 sq ft, and five-bedroom units from 2,863 sq ft to 3,251 sq ft. The development also features two exclusive penthouses, a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex spanning 8,816 sq ft. The larger units will also have private lift access, and the triplex penthouse will come with a private pool.
According to Marcus Chu, CEO of ERA Singapore, these larger units and penthouses will cater to the affluent lifestyles of CCR homebuyers. On the other hand, the two- and three-bedroom units, which make up 60% of the apartments, are expected to appeal to both homebuyers and investors.
Residents of Aurea will have access to various facilities, including two infinity pools, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. The sky terraces on levels 17 and 33 offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.
Ken Low, Managing Partner at SRI, adds that today’s homebuyers are looking for more than just a great location. They want a home that enhances their daily lives, and Aurea delivers on all fronts.
The Golden Mile, consisting of 156 strata office units and 19 medical suites, was launched for sale in December 2024. The joint venture partners, Perennial and Far East, intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.
According to Ismail Gafoor, CEO of PropNex, the iconic Golden Mile Complex has great potential, especially for its office space, which may attract buyers. He adds that buyers today prioritize quality projects situated near an MRT station and convenient access to essential amenities. The Golden Mile is linked to the Nicoll Highway MRT Station via an overhead bridge.
The last project to be launched in the District 7 neighbourhood of Beach Road was Midtown Modern, comprising 558 units. All units have been sold as of Dec 2024 at an average price of about $2,825 psf, and the project is expected to be completed this year. The neighbouring development, The M, comprising 522 units, was launched in 2020 and is 100% sold at an average price of $2,528 psf. It was completed in March 2024.
Midtown Bay, consisting of 219 units, located in Guoco Midtown, was completed last year. Since its launch in 2019, about 63% of the units have been sold as of Feb 5 at an average price of $3,090 psf.
Given Aurea’s prime location, upscale residences, and The Golden Mile’s cultural significance, Gafoor estimates that prices of the units at Aurea could cross $3,000 psf. He adds that the project may attract healthy interest among prospective homebuyers and investors, given the high demand for new homes in the area.
Aurea is expected to be completed in 2Q2029. Interested individuals can check out the latest listings for Aurea properties.