On February 6th, Perennial Holdings and Far East Organization announced the launch of Aurea, a luxurious apartment tower as part of the Golden Mile Singapore mixed-use development on Beach Road. Developed by DP Architects, Aurea boasts 188 units across 45 storeys, occupying a site area of 144,908 sq ft. The tower will also feature a link bridge connecting it to the neighbouring commercial building, The Golden Mile, which offers a mix of retail space, medical suites and offices.
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It is crucial to carefully consider the maintenance and management aspects when investing in a condo. Along with the purchase price, buyers should also factor in the maintenance fees that cover the upkeep of shared spaces and amenities. These fees may increase the overall cost of owning a condo, but they also guarantee that the property remains well-maintained and retains its value. To make condo ownership a more passive investment, investors can enlist the services of a property management company. Additionally, incorporating information on upcoming New Condo Launches can also aid in making an informed decision.
Formerly known as Golden Mile Complex, The Golden Mile has been conserved for its architectural heritage and marked the first collective sale and conservation of a building. It was purchased en bloc by Perennial Holdings and Far East Organization for $700 million in May 2022.
Situated in prime District 7 of the Downtown Core and part of the Core Central Region (CCR), Aurea and The Golden Mile are expected to attract discerning individuals and families who appreciate an exclusive address in the heart of the city. Shaw Lay See, COO of Far East Organization’s sales & leasing group, anticipates strong interest from potential buyers.
The preview for Aurea, which is by appointment only, is set to begin on February 22nd, with the official launch scheduled for March 8th. Prices for the apartments start from $2,750 psf. For example, two-bedroom units spanning 646 sq ft are priced starting from $1.92 million ($2,972 psf).
Aurea offers a variety of unit types to cater to different lifestyles. There are 112 two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, 56 four-bedroom units from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft. In addition, there are two exquisite penthouses – a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex spread over 8,816 sq ft. Larger four-bedroom units and penthouses will feature private lift access, and the triplex penthouse will also have a private pool. These units are designed to cater to the affluent lifestyles of CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.
However, the majority of the apartments in Aurea are two- and three-bedroom units, making up 60% of the total. These units are expected to appeal to both homebuyers and investors, says Chu.
Residents of Aurea will have access to a host 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.
Ken Low, Managing Partner of SRI, states that today’s homebuyers are looking for more than just a great location – they want a home that enhances their daily lives. Aurea ticks all the boxes, with its convenient location, well-thought-out design, and inspiring facilities and spaces.
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, plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. Ismail Gafoor, CEO of PropNex, believes that the iconic status of the former Golden Mile Complex and the potential of its commercial space, especially office space, will attract buyers.
He adds that buyers nowadays prioritize quality projects near an MRT station and convenient access to essential amenities. The Golden Mile Singapore is just 1km from the Kallang Alive Precinct, Bras Basah-Bugis district, and a 10-minute drive from the CBD. Additionally, it also has 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 the 558-unit Midtown Modern in 2021, which has been fully sold at an average price of about $2,825 psf and is expected to obtain TOP this year. The neighbouring 522-unit, The M, was launched in 2020 and is also fully sold at an average price of $2,528 psf, with completion in March 2024. Another project, Midtown Bay at Guoco Midtown, has 63% of its 219 units sold as of February 5th, at an average price of $3,090 psf.
Given Aurea’s prime location, upscale residences, and The Golden Mile’s Singapore architectural heritage, Gafoor estimates that the apartment units’ prices could cross $3,000 psf. He believes that there may be pent-up demand for new homes in the area, considering the success of past launches in the district. Therefore, he expects Aurea to garner significant interest from potential homebuyers and investors.
Aurea is set to be completed in the second quarter of 2029. Interested buyers can check out the latest listings for Aurea properties and other new launches. Ask Buddy for more information or to compare transaction prices and available units. For a comprehensive overview of the property market, take a look at the price trends of HDB, Condo, and Landed properties. You can also find out about recent condo sale transactions in District 7 and see project summaries for Aurea. If you are looking for a rental property in the area, browse through the available condo rental listings in District 7 on our website.