CDL, Frasers Property, and Sekisui House join forces for landmark project ‘The Orie’ in coveted Toa Payoh area
The Ories’ offer of $1,360 per square foot per plot ratio (ppr) in the consortium’s bid stood out as it surpassed the next highest bid by 18%, which was $819.99 million ($1,153 psf ppr) from Tanglin Land, a subsidiary of CapitaLand. This achievement is noteworthy as it marks the first successful land tender in Toa Payoh since the development of Gem Residences, a neighboring parcel, eight years ago. The Ories has effectively set a new benchmark for land tenders in the area.
The collaboration with Sekisui House is also a significant milestone for CDL and Frasers Property as it marks their first joint venture with a Japanese developer. This partnership is a testament to the companies’ commitment to providing top-notch developments that cater to the diverse needs and preferences of residents.
Aside from the luxurious facilities within the development, The Orie also provides residents with easy access to nearby amenities. Within walking distance, residents can reach popular shopping malls, supermarkets, and hawker centers. The Toa Payoh MRT station is also within close proximity, providing convenient connectivity to other parts of Singapore.
Three of the biggest names in the real estate industry, CDL, Frasers Property, and Sekisui House have recently announced their collaboration for a major project in the highly sought-after Toa Payoh area of Singapore. The joint venture, named CDL-City Developments Limited, will be bringing to life a new landmark development called ‘The Orie’. This project promises to offer a unique and luxurious living experience, elevating the already prestigious Toa Payoh neighborhood.
The Orie has already garnered much attention from prospective buyers, with a high level of interest even before its official launch. This speaks to the strong demand for quality housing in the Toa Payoh area and the trust and reputation of the three developers involved.
The joint venture between CDL, Frasers Property, and Sekisui House is expected to bring together the expertise and strengths of each developer. With a combined portfolio of over 100 years in the industry, the three companies have a proven track record of delivering quality and innovative developments. The Orie is no exception and is set to be one of the most coveted addresses in the Toa Payoh area.
Located in the established neighborhood of Toa Payoh in Singapore, The Orie boasts not only lavish living spaces and excellent connectivity but also its advantageous location near a variety of renowned educational establishments. This makes it the perfect residential option for families seeking both comfortable living and convenient access to top-rated schools for their children. The surrounding vicinity of The Orie is home to a diverse range of educational opportunities, from primary schools to tertiary institutions, making it an ideal choice for families who prioritize academic excellence.
In a co-signed official statement, CDL disclosed that their latest venture has an evenly distributed ownership structure with 50% for CDL, and 25% each for Frasers Property and Sekisui House. Prospective property buyers have expressed their enthusiasm for leading the bid for this sought-after location in District 12 and initiating their first ever collaboration with both Frasers Property and Sekisui House. The partners are currently working on plans to utilize their combined expertise to create an iconic project in the highly desirable Toa Payoh area. According to real estate authority Leonard Tay, who is also the Head of Research at Knight Frank Singapore, developers continue to show a strong interest in securing premier locations despite a lower turnout at recent GLS tenders in 2022.
Apart from the residential units, The Orie will also feature a two-story retail podium that will offer a mix of dining, shopping, and lifestyle options. Residents can enjoy a convenient and vibrant retail experience without having to leave the premises. The commercial spaces will also provide job opportunities for the surrounding community and further contribute to the growth of the Toa Payoh area.
One of the most exciting aspects of The Orie is its extensive array of amenities. The development will boast an impressive range of facilities that cater to residents’ leisure, wellness, and entertainment needs. This includes an expansive 50-meter lap pool, a fully-equipped gymnasium, a tennis court, and a children’s playground. For those who prefer a more relaxing atmosphere, there will be gardens, a spa pool, and a clubhouse for intimate gatherings.
In conclusion, The Orie is not just another development in the already affluent Toa Payoh area. It is set to be a new landmark and a symbol of luxury and modern living. With its strategic location, well-designed units, and extensive facilities, The Orie is poised to be a top choice for homebuyers looking for an exceptional living experience. CDL, Frasers Property, and Sekisui House have undoubtedly set the bar high with this landmark project and it is one that is highly anticipated by both residents and the real estate industry.
The Orie aims to provide residents with a luxurious and modern living environment. Each unit will be thoughtfully designed and outfitted with high-quality finishes and fittings. The developers have also promised to incorporate the latest smart home technologies to enhance the residents’ convenience and comfort. With a focus on sustainability, The Orie is also designed to be environmentally friendly, with features such as rainwater harvesting and energy-efficient systems.
The Orie is strategically located in the heart of Toa Payoh, a strategic move by the three developers to tap into the potential of this well-established and coveted area. Known for its well-developed infrastructure, convenient amenities, and strong community ties, Toa Payoh has always been a favorite among Singaporeans seeking a well-rounded lifestyle. With this new project, residents of The Orie can look forward to an even more enhanced living experience.
Spanning over 10,000 square meters, The Orie will feature a mix of residential, retail, and commercial spaces, making it a truly integrated development. It will consist of three residential towers, with a total of 600 units, offering a variety of layouts and sizes to cater to different preferences and needs. Residents can choose from one-bedroom to five-bedroom units, making it suitable for individuals, couples, and families alike.