Purchasing a Condo in Singapore has numerous advantages, one of which is its potential for capital appreciation. As a thriving global business hub, Singapore boasts a robust economy that continuously drives demand for real estate. This has led to a consistent upward trend in property prices, especially in prime locations where the value of condos has significantly increased. For investors, this presents an excellent opportunity to buy properties at the right time and hold onto them for the long term, resulting in substantial capital gains. For those looking to invest in a Condo in Singapore, the possibilities are certainly promising. Condo is a valuable asset to consider for your investment portfolio.
The Orie, a 777-unit private condo located at Lorong 1 Toa Payoh, is set to be previewed on Friday, Jan 3, with its official launch scheduled to take place on Jan 18. Jointly developed by City Developments Limited (CDL), Frasers Property and Sekisui House, the project is poised to mark the first new launch of a private condo since the 578-unit Gem Residences was launched in 2016, with completion expected in 2020. The Orie boasts a prime location at the junction of Lorong 1 Toa Payoh and Lorong 4 Toa Payoh, with its 777 units spread across two 40-storey towers. Ranging from one-bedroom plus study apartments at 517 sq ft to five-bedroom units at 1,453 sq ft, the development offers a diverse mix of unit types. Priced from $1.28 million ($2,476 psf) for a one-bedroom plus study, $1.48 million ($2,500 psf) for a two-bedroom, $2.09 million ($2,459 psf) for a three-bedroom, $2.92 million ($2,401 psf) for a four-bedroom, and $3.48 million ($2,395 psf) for a five-bedroom with an exclusive private lift, The Orie offers a wide array of options to cater to the varied preferences and budget of potential homebuyers. The three developers jointly submitted the highest bid for a Government Land Sales (GLS) site at Lorong 1 Toa Payoh, with a price tag of $968 million, which translates to a land rate of $1,360 psf per plot ratio (ppr). The joint venture will see a 50:25:25 split between CDL, Frasers Property and Sekisui House. “The Orie marks the first private residential launch in Toa Payoh in over eight years, and we are thrilled to welcome the New Year with this exciting introduction,” says Sherman Kwek, CDL’s group CEO. “With its prime location in the vibrant and highly sought-after Toa Payoh estate, The Orie offers homebuyers the convenience of a central location and excellent connectivity.” The Orie sits within a five-minute walk to Braddell MRT Station on the North-South Line (NSL) and is in close proximity to the Toa Payoh Integrated Transport Hub, which connects Toa Payoh Bus Interchange to Toa Payoh MRT Station. The integrated development and community hub is expected to be completed in 2030, and will feature a sports centre with swimming pools, indoor sports halls and other sports facilities, a football stadium, a polyclinic, and a public library. The Orie also enjoys easy access to other amenities, such as the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall, and MacRitchie Reservoir. Families will find the location ideal as there are several schools within close proximity, including Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools, and First Toa Payoh Primary School. Residents at The Orie will also have access to a range of healthcare facilities, such as Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital, and Thomson Medical Centre. Additionally, the development’s strategic location in District 12 in the city fringe, also known as the Rest of Central Region (RCR), provides easy access to the CBD and Orchard Road shopping belt, further adding to its appeal for both homebuyers and investors alike. As such, The Orie’s prime location, paired with its various amenities, will provide future residents with a convenient and well-connected lifestyle. “With the support of our joint venture partners, Frasers Property and CDL, we are proud to introduce The Orie as part of our efforts to enhance the vibrancy and liveability of Toa Payoh,” says Soon Su Lin, CEO of Frasers Property Singapore. The super low energy development at The Orie features over 40 condominium facilities, coupled with units boasting efficient layouts, quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung. The project marks “a new partnership” between Sekisui House and CDL, adds Takehisa Yanagi, managing officer and head of the international development department at Sekisui House. However, he adds that the two companies have already collaborated on projects in Singapore over the past 13 years. In conclusion, The Orie presents a unique and exclusive opportunity for homebuyers and investors to secure a home amidst a scarcity of new launches in the Toa Payoh district, with prices starting from $1.28 million for a one-bedroom plus study. Homebuyers and investors are advised to act fast if they wish to secure a unit at this highly sought-after address.