Perennial And Far East Preview 188 Unit Aurea Golden Mile Singapore Feb 22
Perennial Holdings and Far East Organization have announced their latest project – Aurea, a luxurious residential tower that is part of the Golden Mile Singapore mixed-use development along Beach Road. With 188 units spread across 45 storeys, the new residential tower, designed by DP Architects, occupies a site area of 144,908 sq ft.
One of the unique features of Aurea is its link bridge connecting it to the neighbouring The Golden Mile, a commercial building featuring retail space, medical suites and offices. The Golden Mile, formerly known as Golden Mile Complex, has been conserved for its architectural heritage and marks 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.
Located in the prime District 7 of the Downtown Core and part of the Core Central Region (CCR), Aurea is expected to attract discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address, according to Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group.
The appointment-only preview of Aurea is set to begin on Feb 22, with the launch scheduled for Mar 8. Prices for the apartments will start from $2,750 per square foot (psf). By absolute price, the starting price for a two-bedroom apartment at Aurea, measuring 646 sq ft, will be $1.92 million ($2,972 psf).
Aurea offers a range of unit types, including two- and three-bedroom apartments (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). There are also two exclusive penthouses – a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex measuring 8,816 sq ft. The larger four-bedroom units and penthouses come with private lift access, and the triplex penthouse also boasts a private pool. According to Marcus Chu, CEO of ERA Singapore, these larger units cater to the affluent lifestyles of CCR homebuyers.
The majority of the units at Aurea – 60% – are made up of two- and three-bedroom apartments, which are expected to appeal to both homebuyers and investors, says Chu.
Aurea’s residents will have access to a range of facilities, including two infinity pools (on levels three and 33), a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 offer stunning views of the CBD skyline, Marina Bay and the Kallang waterfront.
According to Ken Low, managing partner at SRI, today’s homebuyers want more than just a great location – they seek a home that enhances their daily lives and is thoughtfully designed with inspiring facilities or spaces. Aurea fulfils all these criteria, he adds.
In December 2024, the 156 strata office units and 19 medical suites at The Golden Mile were launched for sale. The joint venture partners, Perennial and Far East Organization, intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.
Ismail Gafoor, CEO of PropNex, notes that the potential of the commercial space, especially office space, at the former Golden Mile Complex, an iconic building, may attract buyers. He adds that today’s buyers prioritise quality projects near an MRT station and convenient access to essential amenities. The Golden Mile is connected to the Nicoll Highway MRT Station on the Circle Line via an overhead bridge.
In addition to easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE), Golden Mile Singapore is only 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district and a 10-minute drive from the CBD.
The last launch in the Beach Road neighbourhood of District 7 was Midtown Modern, a 558-unit development in 2021. As of Dec 2024, all units at Midtown Modern have been sold at an average price of about $2,825 psf, and the project is expected to obtain TOP this year.
The bustling Clementi 448 Market & Food Centre has quickly gained popularity among food enthusiasts for its vibrant atmosphere and impressive selection of food stalls. As a resident of Elta Condo, you have the luxury of having this treasure trove of gastronomy right at your doorstep. Whether you’re looking for a quick snack or a leisurely meal with loved ones, this food centre is the ultimate destination. And with Elta being just a short distance away, there’s no better convenience for Elta residents than having this culinary hotspot just a hop, skip, and a jump away from home. With Elta’s close proximity, indulging in the delectable offerings at Clementi 448 Market & Food Centre has never been easier. Elta can now be added to the rewritten paragraph.
In 2020, the neighbouring 522-unit The M was launched and is 100% sold at an average price of $2,528 psf. It was completed in March 2024.
Similarly, Midtown Bay at Guoco Midtown, with 219 units, was 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.
Given its prime location, upscale residences, and preservation of Singapore’s architectural heritage at The Golden Mile, Ismail Gafoor estimates that prices of the apartment units at Aurea could exceed $3,000 psf. He believes that the project 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.