The demand for Singapore Condo remains consistently high due to the country’s limited land availability. As a small island nation experiencing rapid population growth, Singapore is faced with the challenge of finding space for development. As a result, strict land use policies have been implemented and the real estate market remains competitive, driving property prices up. This makes investing in real estate, specifically condos, a highly profitable opportunity with the potential for significant capital appreciation.
Perennial Holdings and Far East Organization have recently announced their plans for Aurea, a luxury apartment tower located in the prime District 7. This 45-storey residential tower, designed by DP Architects, will have 188 units and occupy a site area of 144,908 sq ft. It is part of the Golden Mile Singapore mixed-use development, with a link bridge connecting it to the neighbouring The Golden Mile, an iconic building that has been conserved for its architectural heritage.
The Golden Mile complex, which was the first collective sale and conservation of a building, was purchased en bloc by Perennial Holdings and Far East Organization for $700 million in May 2022. Its commercial space is a mix of retail shops, medical suites, and offices. The joint venture partners intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.
Aurea’s address along Beach Road places it in the prime Downtown Core and Core Central Region (CCR), making it highly desirable for homebuyers and investors. “We anticipate strong interest from discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address,” says 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 official launch on Mar 8. Prices for the apartments start from $2,750 psf, with the absolute price for a two-bedroom unit of 646 sq ft starting at $1.92 million ($2,972 psf).
Aurea offers a range of unit types, including two- and three-bedroom apartments (112 units) ranging from 635 sq ft to 1,001 sq ft, four-bedroom apartments (56 units) from 1,442 sq ft to 1,798 sq ft, and five-bedroom units (18 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 of 8,816 sq ft. The larger four-bedders and penthouses with private lift access are expected to appeal to affluent CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.
The amenities at Aurea include 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. “Today’s homebuyers are looking for more than just a great location,” says Ken Low, managing partner at SRI. “They want a home that enhances their daily lives – one that is easy to get around, thoughtfully designed and offers facilities or spaces that inspire. Aurea delivers on all this.”
The neighbouring Golden Mile development, with 156 strata office units and 19 medical suites, was launched for sale in December 2024. It is just a 10-minute drive from the CBD and is well-connected to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). It is also within a 1km radius of the Kallang Alive Precinct and the Bras Basah-Bugis district. The existing overhead bridge links it to the Nicoll Highway MRT Station on the Circle Line.
The last launch in the Beach Road neighbourhood of District 7 was Midtown Modern, a 558-unit development that has been fully sold at an average price of about $2,825 psf. It is expected to obtain TOP sometime this year. This was preceded by The M, a 522-unit development that was fully sold at an average price of $2,528 psf and completed in March 2024. The 219-unit Midtown Bay at Guoco Midtown was completed last year, with about 63% of its units taken up at an average price of $3,090 psf since its debut in 2019.
Given Aurea’s prime location, upscale residences, and Golden Mile’s iconic architectural heritage, Ismail Gafoor, CEO of PropNex, estimates that its unit prices could cross $3,000 psf. “With most units at previous launches in the district fully sold, we believe Aurea may attract a healthy interest among prospective homebuyers and investors who have been waiting for new homes in the area,” says Gafoor.
Aurea is expected to be completed in 2Q2029. Interested buyers can check out the latest listings for Aurea properties, as well as other recently completed projects and their price trends. They can also compare the price trend of HDB, condo, and landed properties, and view the sale transactions in District 7. For more information on Aurea, the project summary for the condo is available, as well as any available rental listings in District 7.