On February 6, Perennial Holdings and Far East Organization announced their plans for Aurea, a luxury apartment tower that will be part of the Golden Mile Singapore mixed-use development along Beach Road.
Designed by DP Architects, Aurea will consist of 188 units spread across 45 storeys and will occupy a site area of 144,908 sq ft. The development will also have a link bridge connecting it to the neighbouring The Golden Mile, a commercial building with a mix of retail space, medical suites, and offices.
Previously known as Golden Mile Complex, The Golden Mile has been conserved 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.
The apartments in Aurea will be priced from $2,750 psf and will consist of a variety of unit types. This includes 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, five-bedroom units from 2,863 sq ft to 3,251 sq ft, and 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-bedroom units and penthouses will have private lift access, with the triplex penthouse also featuring a private pool.
According to ERA Singapore CEO Marcus Chu, these larger units cater to the affluent lifestyles of CCR homebuyers. On the other hand, the two- and three-bedroom units make up 60% of the apartments and are expected to appeal to both homebuyers and investors.
Aurea’s appointment-only preview will begin on February 22, with the launch set to take place on March 8.
In addition to its prime Downtown Core location, Aurea and The Golden Mile also fall within the Core Central Region (CCR) and are expected to attract strong interest from individuals and families who appreciate the exclusivity of such a prestigious address, says Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group.
Meanwhile, SRI managing partner Ken Low says that today’s homebuyers are looking for more than just a great location – they want a home that enhances their daily lives. Aurea offers just that with its thoughtful design and facilities such as two infinity pools, a gymnasium, a bouldering wall, spa facilities, and multiple dining pavilions. The development also boasts sky terraces on levels 17 and 33 that offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.
The Golden Mile’s 156 strata office units and 19 medical suites were launched for sale in December 2024, with Perennial and Far East Organization intending to retain ownership of the revamped two-story retail atrium to curate the tenant mix.
According to PropNex CEO Ismail Gafoor, the iconic status of the former Golden Mile Complex and the potential of its commercial space, especially office space, may attract buyers. He adds that buyers today prioritize quality projects that are near an MRT station and have convenient access to essential amenities. The Golden Mile Singapore is located just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.
The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021, which has since been 100% sold at an average price of about $2,825 psf. Its neighboring development, The M, was launched in 2020 and has also been fully sold at an average price of $2,528 psf, with completion expected in March 2024. Midtown Bay at Guoco Midtown, consisting of 219 units, is expected to obtain TOP soon, with about 63% of its units sold as of February 5 at an average price of $3,090 psf.
Given its prime location, upscale residences, and strong focus on preserving Singapore’s architectural heritage, PropNex’s Gafoor estimates that prices at Aurea could cross $3,000 psf. He also believes that the development will attract healthy interest among prospective homebuyers and investors, given the strong demand for new homes in the area as evidenced by past launches.
Aurea is expected to be completed in 2Q2029.