On Feb 6, Perennial Holdings and Far East Organization unveiled plans for Aurea, a luxury apartment tower, and part of Golden Mile Singapore mixed-use development along Beach Road.
Aurea has 188 units across a 45-storey new residential tower designed by DP Architects and occupies a site area of 144,908 sq ft. It will have a link bridge connecting the tower to the neighbouring The Golden Mile, a commercial building with a mix of retail space, medical suites and offices.
The Golden Mile is the former Golden Mile Complex, which has been conserved for its architectural heritage. It marked 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.
Given its address on Beach Road, Aurea and The Golden Mile are part of prime District 7 in the Downtown Core and 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 at Far East Organization’s sales & leasing group.
Aurea’s appointment-only preview is slated to begin on Feb 22, with the launch to commence on Mar 8. The apartments will be priced from $2,750 psf.
By absolute price, two-bedroom apartments of 646 sq ft at Aurea will start from $1.92 million ($2,972 psf).
The residences within Aurea comprise a series of unit types. Two- and three-bedroom apartments from 635 sq ft to 1,001 sq ft comprise 112 units. Another 56 apartments are four-bedroom units from 1,442 sq ft to 1,798 sq ft, with 18 five-bedroom 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.
Four-bedroom and larger units will feature private lift access, and the triplex penthouse will also come with a private pool.
These larger four-bedders and penthouses “complement the affluent lifestyles of CCR homebuyers”, says Marcus Chu, CEO of ERA Singapore.
Meanwhile, the two- and three-bedroom units make up 60% of the apartments at Aurea. These units are expected to appeal to homebuyers and investors, adds Chu.
Residents’ facilities at Aurea include two infinity pools – on levels three and 33 – a gymnasium, a bouldering wall, spa facilities, an indoor lounge and multiple dining pavilions to host guests. Sky terraces on levels 17 and 33 are expected to 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 facilities or spaces that inspire. Aurea delivers on all this.”
The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024. Joint venture partners Perennial and Far East intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.
“The former Golden Mile Complex is iconic. The potential of the commercial space, especially office space, may attract buyers,,” says PropNex CEO Ismail Gafoor.
He adds that buyers today prioritise quality projects near an MRT station and convenient access to essential amenities. An existing overhead bridge links The Golden Mile to the Nicoll Highway MRT Station on the Circle Line.
Besides easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE), Golden Mile Singapore is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district and a 10-min drive from the CBD.
The last launch in the Beach Road neighbourhood of District 7 was the 558-unit Midtown Modern in 2021. All units at Midtown Modern have been sold as of Dec 2024 at an average price of about $2,825 psf, and the project is expected to obtain TOP sometime this year.
Midtown Modern’s launch was preceded by the neighbouring 522-unit, The M, in 2020. The entire development is 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 completed last year. Since its debut in 2019, about 63% of the units have been taken up as of Feb 5 at an average price of $3,090 psf.
Given Aurea’s location, upscale residences and Golden Mile’s Singapore architectural heritage, PropNex’s CEO Gafoor estimates that prices of the apartment units could cross $3,000 psf.
“As most of the units at past launches in the district have been sold, we believe Aurea may enjoy some pent-up demand for new homes in the area and could attract healthy interest among prospective homebuyers and investors,” says Gafoor.
The Aurea is expected to be completed in 2Q2029.
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