Perennial Holdings and Far East Organization revealed their plans for a new luxury apartment tower, Aurea, on February 6. The tower is part of the Golden Mile Singapore mixed-use development, situated along Beach Road.
Spanning 45 storeys and designed by DP Architects, Aurea will have 188 units on a site area of 144,908 sq ft. It will be connected to the neighboring commercial building, The Golden Mile, which offers a mix of retail space, medical suites, and offices. The Golden Mile is the former Golden Mile Complex, which was conserved for its architectural heritage. This was the first collective sale and conservation of a building, with Perennial Holdings and Far East Organization purchasing it en bloc for $700 million in May 2022.
With its address on Beach Road, Aurea and The Golden Mile are situated in prime District 7 in the Downtown Core, making it part of the Core Central Region (CCR). “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 of Far East Organization’s sales & leasing group.
Aurea’s preview, by appointment only, will begin on February 22, with the launch happening on March 8. The apartments will be priced from $2,750 psf. By absolute price, two-bedroom apartments measuring 646 sq ft at Aurea will start from $1.92 million ($2,972 psf).
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The residential units in Aurea offer various types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, totalling 112 units. There are also 56 four-bedroom units, measuring 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. Furthermore, there are two exclusive penthouses, a six-bedroom duplex measuring 5,608 sq ft, and a six-bedroom triplex of 8,816 sq ft. The larger four-bedroom units and penthouses feature private lift access, and the triplex penthouse also comes with a private pool. These bigger units cater to the affluent lifestyle of CCR homebuyers, says Marcus Chu, CEO of ERA Singapore.
Meanwhile, two- and three-bedroom units make up 60% of the apartments at Aurea. Chu adds that these units are expected to attract both homeowners and investors.
Aurea boasts residents’ facilities, including two infinity pools, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for guests. Sky terraces on levels 17 and 33 offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront. Ken Low, Managing Partner at SRI, states that today’s homebuyers are looking for more than just an excellent location. They want a home that enhances their daily lives, and Aurea delivers on this.
The Golden Mile, which comprises 156 strata office units and 19 medical suites, was launched for sale in December 2024. Perennial and Far East, who are joint venture partners, intend to keep ownership of the two-storey retail atrium to curate the tenant mix. PropNex CEO, Ismail Gafoor, believes that the iconic Golden Mile Complex makes the commercial space, especially offices, appealing to buyers. He adds that modern buyers prioritize quality projects near MRT stations and easy access to essential amenities. Furthermore, it is just a 1km distance from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive to the CBD. The Golden Mile Singapore also offers convenient 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 area of District 7 was the 558-unit Midtown Modern in 2021, and all units have been sold by December 2024, at an average price of about $2,825 psf. The project is expected to obtain TOP sometime this year. The M, a neighboring development with 522 units, was launched in 2020. All units were sold at an average price of $2,528 psf, and it was completed in March 2024. Meanwhile, the 219-unit Midtown Bay at Guoco Midtown was completed last year, with 63% of units sold since its debut in 2019 at an average price of $3,090 psf.
Gafoor estimates that prices of the apartment units at Aurea could exceed $3,000 psf, given its location, upscale residences, and Golden Mile’s Singapore architectural heritage. He adds that as most units at past launches in the district were sold, there could be pent-up demand for new homes in the area, making Aurea an attractive choice for potential homebuyers and investors.
The Aurea is expected to be completed in the second quarter of 2029.