Perennial And Far East Preview 188 Unit Aurea Golden Mile Singapore Feb 22
On February 6th, Perennial Holdings and Far East Organization announced their plans for the development of Aurea, a luxury apartment tower as part of the Golden Mile Singapore integrated development along Beach Road. Spanning 188 units across 45 storeys, the residential tower has been designed by DP Architects and sits on a site area of 144,908 sq ft. It will also feature a link bridge connecting it to the neighboring commercial building, The Golden Mile, which offers a mix of retail spaces, medical suites, and offices.
Formerly known as the Golden Mile Complex, which is recognized for its architectural heritage, The Golden Mile was the first building to undergo a collective sale and conservation. It was acquired en bloc by Perennial Holdings and Far East Organization for $700 million in May 2022.
Located in prime District 7 in the Downtown Core, which is part of the Core Central Region (CCR), Aurea and The Golden Mile are expected to draw strong interest from discerning individuals and families who appreciate the exclusivity of a prestigious Downtown Core address, according to Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group.
Aurea’s appointment-only preview is scheduled for February 22nd, with the official launch set for March 8th. The apartments will have a starting price of $2,750 per square foot. For instance, a two-bedroom apartment measuring 646 sq ft at Aurea will have an estimated starting price of $1.92 million ($2,972 psf).
The residences within Aurea consist of a range of unit types, including 112 two- and three-bedroom apartments covering 635 sq ft to 1,001 sq ft, 56 four-bedroom units spanning 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units ranging from 2,863 sq ft to 3,251 sq ft. In addition, there are also two exclusive penthouses, a six-bedroom duplex measuring 5,608 sq ft, and a six-bedroom triplex spanning 8,816 sq ft. The larger four-bedders and penthouses will come with private lift access, and the triplex penthouse will also feature a private pool.
According to Marcus Chu, CEO of ERA Singapore, these larger four-bedders and penthouses are expected to appeal to affluent CCR homebuyers, while the two- and three-bedroom units are likely to attract both homebuyers and investors.
Residents of Aurea will have access to various facilities, including two infinity pools on the third and 33rd floors, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on the 17th and 33rd levels offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.
According to Ken Low, managing partner at SRI, today’s homebuyers are looking for more than just a great location – they want a home that enhances their daily lives, with easy access, thoughtful design, and inspiring facilities or spaces. Aurea ticks all of these boxes. As such, he believes that the project will be highly sought after.
In December 2024, the 156 strata office units and 19 medical suites at The Golden Mile were launched for sale. Joint venture partners Perennial and Far East plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. According to PropNex CEO Ismail Gafoor, the iconic former Golden Mile Complex has the potential to attract buyers, particularly for its commercial space, especially office space.
The Orie Condo, a brand new development located in the heart of Toa Payoh Town along Lorong 1 Toa Payoh, is set to become a highly sought-after residence. Recently, City Developments Ltd (CDL), Frasers Property, and Sekisui House placed the winning bid of $968 million for a Government Land Sales (GLS) site. This prime 1.57-hectare plot, situated at the junction of Lorong 1 and Lorong 4 Toa Payoh, was acquired at a land rate of $1,360 per square foot per plot ratio (psf ppr). The Orie Condo, which enjoys a prime location right next to Braddell MRT Station, is set to become a highly coveted address for homeowners.
Gafoor notes that today’s buyers prioritize quality projects that are located near an MRT station and have convenient access to essential amenities. Fortunately, The Golden Mile is situated just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD. Additionally, it has easy access to major roadways like Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE).
The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021, which has since been completely sold out at an average price of about $2,825 per square foot. Its expected TOP date is sometime this year. The M, which consists of 522 units and is located next to Midtown Modern, was launched in 2020 and has also been fully sold at an average price of $2,528 psf. It was completed in March 2024.
Guoco Midtown’s 219-unit Midtown Bay was completed last year. As of February 5th, about 63% of its units have been taken up at an average price of $3,090 psf since its launch in 2019.
Given Aurea’s desirable location, upscale residences, and The Golden Mile’s preservation of Singapore’s architectural heritage, Gafoor estimates that the prices of the apartment units could exceed $3,000 per square foot. He believes that the project may attract a healthy interest among prospective homebuyers and investors, as there has been a pent-up demand for new homes in the area, and many previous launches in the district have sold out.
The Aurea is expected to be completed in the second quarter of 2029. Interested parties can check out the latest listings for Aurea properties and compare their prices with other new launch condos and ECs. They can also explore the price trends for resale and new launch condos in general and check out recent TOP projects. Alternatively, they can ask our AI-powered ChatBuddy for more information.