CDL, Hong Realty to launch freehold Amber Park condo at average $2,425 psf

Amber Park sits on a rare freehold site of more than 213,000 sq ft. PHOTO: CDL GROUP

SINGAPORE - A freehold condominium project in Amber Road which boasts a rooftop deck for recreational activities will be launched on Saturday (May 4).

The 592-unit Amber Park is developed by City Developments Limited (CDL) and its joint venture partner Hong Realty.

Early bird prices start from $1.088 million for a one-bedroom unit with a study to $4.98 million for a five-bedroom premium unit, CDL said in a statement on Thursday (May 2).

Unit sizes range from 463 sq ft for a one-bedroom plus study apartment to 5,005 sq ft for the largest penthouse, which has six bedrooms plus a study.

The 213,675 sq ft site was purchased in October 2017 for $906.7 million, which was at the time a record by dollar value for freehold properties sold en bloc. This translated to a land price of $1,515 psf per plot ratio.

The condo project is a short walk from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line. Schools within a 2km radius include Tao Nan School, CHIJ (Katong) Primary and Tanjong Katong Girls' School.

Designed by SCDA Architects' principal architect Chan Soo Khian, the development has a 32,507 sq ft rooftop recreational deck that connects three 21-storey towers.

Called the Stratosphere, it features a 600m sky jogging track, touted by CDL as the first for a condo in Singapore, as well as a yoga deck, gym and spa pool, among other facilities.

CDL's group general manager, Mr Chia Ngiang Hong, said the project has received positive feedback from visitors to the sales gallery, which opened for viewing last Saturday (April 27).

"Many of them are fans of the East Coast area and they know it is rare to find another District 15 freehold project which sits on such an expansive site so near an MRT station," he said.

Mr Chia expects the take-up to be good due to the condo's location and the "very attractive" early-bird prices.

ZACD Group head of research and consultancy Nicholas Mak said of the pricing: "It reflects the quality of the location, the freehold tenure as well as the dependability of a brand-name developer, which will command a premium on the price."

He added that the East Coast area is a prime residential location popular with residents and investors as it is one of the few locations in Singapore that offers sea views and access to the city.

Amber Park is expected to be completed in 2024. The launch comes amid the entry of 2,989 new private homes to the market in the first quarter of this year, about 80 per cent more than in the previous quarter.

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