When it comes to investing in real estate, location is a crucial factor to consider, and this is particularly true in Singapore. In this city-state, condos located in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs tend to have a higher appreciation in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values over the years. Families also prefer condos in these areas due to their proximity to good schools and educational institutions, making them even more desirable and further increasing their investment potential. For more information on new condo launches, please visit Ananar.com.
On February 6, Perennial Holdings and Far East Organization announced the launch of Aurea, a luxurious apartment tower that is part of the Golden Mile Singapore mixed-use development located along Beach Road. The 188-unit apartment tower, designed by DP Architects, will span 45 storeys and cover a site area of 144,908 sq ft.
The Golden Mile Singapore is connected to the neighbouring The Golden Mile, a commercial building that includes retail space, medical suites, and offices. The Golden Mile, also known as the former Golden Mile Complex, has been preserved for its architectural heritage and was the first collective sale and conservation of a building. Perennial Holdings and Far East Organization purchased the building en bloc for $700 million in May 2022.
Aurea’s exclusive, invitation-only preview is set to begin on February 22, with the official launch on March 8. The apartments will be priced from $2,750 psf, with two-bedroom units starting at $1.92 million ($2,972 psf).
The residences at Aurea will consist of a variety of unit types, including two- and three-bedroom apartments ranging 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. Two exclusive penthouses will also be available, including a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex measuring 8,816 sq ft. Larger units and penthouses will have private lift access, and the triplex penthouse will also feature a private pool.
According to Marcus Chu, CEO of ERA Singapore, these larger units and penthouses will cater to the affluent lifestyles of homebuyers in the Core Central Region (CCR). Meanwhile, the two- and three-bedroom units make up 60% of the apartments and are expected to appeal to a wide range of homebuyers and investors.
Aurea’s residents can enjoy various facilities, including two infinity pools, a gymnasium, spa facilities, an indoor lounge, and multiple dining pavilions. Sky terraces on levels 17 and 33 will offer stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.
Ken Low, managing partner at SRI, says that today’s homebuyers are looking for more than just a great location, and Aurea delivers on all fronts. He adds that the project has been thoughtfully designed and provides facilities that inspire. The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024, and the 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 Ismail Gafoor, CEO of PropNex, Aurea’s prime location, upscale residences, and Singapore’s architectural heritage could see prices exceed $3,000 psf. As most units at previous launches in the district have been sold, he believes that Aurea may attract healthy interest among prospective homebuyers and investors.
Located in prime District 7 of the Downtown Core and the Core Central Region (CCR), Aurea offers easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). It is also just 1km from Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.
The last launch in the Beach Road neighbourhood was the 558-unit Midtown Modern in 2021, which is now fully sold at an average price of about $2,825 psf. The neighbouring 522-unit The M was completed in 2020 and is also fully sold at an average price of $2,528 psf. Midtown Bay, located at Guoco Midtown, was completed in 2024 and has seen about 63% of its 219 units taken up at an average price of $3,090 psf since its launch in 2019.
Aurea is expected to be completed in the second quarter of 2029.