Perennial Holdings and Far East Organization have recently announced plans for a luxurious residential tower, Aurea, as part of the Golden Mile Singapore mixed-use development along Beach Road. Designed by DP Architects, the 45-storey tower will feature 188 units on a site area of 144,908 sq ft.
The adjoining commercial building, The Golden Mile, which was formerly known as the Golden Mile Complex, has been conserved for its architectural heritage. This marks the first collective sale and conservation of a building. In May 2022, Perennial Holdings and Far East Organization acquired the building en bloc for $700 million.
Located in prime District 7 of the Downtown Core and the Core Central Region (CCR), Aurea and The Golden Mile are expected to attract discerning individuals and families who appreciate the exclusivity of a prime address. Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group, anticipates strong interest in the project.
The preview for Aurea, which is by appointment only, is set to begin on Feb 22, with the launch scheduled for Mar 8. The units will be priced from $2,750 psf. The starting price for two-bedroom apartments of 646 sq ft will be $1.92 million ($2,972 psf).
Aurea offers various types of units, including two- and three-bedroom apartments, four-bedroom units, five-bedroom units, and two exclusive penthouses. The larger units, including the four-bedders and penthouses, are expected to appeal to affluent CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.
Unit sizes range from 635 sq ft to 3,251 sq ft, with larger units and penthouses featuring private lift access. The triplex penthouse will also include a private pool. The majority of the units (60%) are two- and three-bedroom apartments, which are expected to attract both homebuyers and investors.
Amenities at Aurea include two infinity pools, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. The two sky terraces on levels 17 and 33 will offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.
According to Ken Low, managing partner at SRI, modern homebuyers are seeking more than just a good location. They want a home that enhances their daily lives, with easy access, thoughtful design, and inspiring facilities. Aurea aims to deliver on all these qualities.
The Golden Mile Singapore also features 156 strata office units and 19 medical suites, which were launched for sale in December 2024. Perennial and Far East intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.
Ismail Gafoor, CEO of PropNex, believes that the potential of the commercial space, especially office space, may attract buyers due to the iconic status of the former Golden Mile Complex. Buyers today prioritize quality projects near an MRT station and easy access to essential amenities. The Golden Mile is easily accessible via the nearby Nicoll Highway MRT Station on the Circle Line.
Located just 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district and a 10-minute drive from the CBD, Golden Mile Singapore also boasts easy 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 neighbourhood was the 558-unit Midtown Modern, which is expected to obtain TOP this year. The project’s entire 558 units were sold at an average price of about $2,825 psf. Before Midtown Modern, the 522-unit The M was launched next door in 2020. The entire development was 100% sold at an average price of $2,528 psf and was completed in March 2024.
The 219-unit Midtown Bay at Guoco Midtown was also completed last year, with 63% of its units sold as of Feb 5 at an average price of $3,090 psf. Therefore, given Aurea’s location, upscale residences, and The Golden Mile’s iconic status, Ismail Gafoor estimates that prices of the apartment units could exceed $3,000 psf.
“As most of the units in previous launches in the district have been sold, we believe that Aurea may enjoy pent-up demand for new homes in the area and could attract healthy interest among prospective homebuyers and investors,” says Gafoor.
The Aurea is set to be completed in 2Q2029, and interested buyers can check out the latest listings for the property.