Article Rewrite:City Developments Limited (CDL), Frasers Property, and Sekisui House are set to give a preview of their latest venture, The Orie, on January 3rd, with the official launch scheduled for January 18th. This private condominium is located at the intersection of Lorong 1 Toa Payoh and Lorong 4 Toa Payoh, and boasts a total of 777 units spread across two 40-storey towers. The units are a mix of one-bedroom plus study, ranging from 517 sq ft to five-bedroom apartments of 1,453 sq ft. Prices for the units start at $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 unit with an exclusive private lift. Potential buyers can search for the latest New Launches to find out transaction prices and available units.
The Orie will be the first new private condo launch since 2016 when the 578-unit Gem Residences was launched, with the project completed in 2020. The three major developers joined forces to submit the winning bid for a Government Land Sales (GLS) site at Lorong 1 Toa Payoh. Their joint bid of $968 million translates to a land rate of $1,360 psf per plot ratio (ppr) for the site. The joint venture is divided between CDL (50%), Frasers Property (25%), and Sekisui House (25%).
Sherman Kwek, CDL’s group CEO, expressed his excitement for the new year and the launch of The Orie, the first private residential development in Toa Payoh in over eight years. He emphasized the property’s outstanding location and connectivity, as it is nestled in the vibrant and highly sought-after Toa Payoh estate. The Orie is situated just a five-minute walk from Braddell MRT Station on the North-South Line (NSL) and also near the new Toa Payoh Integrated Transport Hub, which connects Toa Payoh Bus Interchange to Toa Payoh MRT station. This new 12-ha integrated development and community hub is expected to be completed by 2030, providing residents with access to a sports center, football stadium, polyclinic, public library, and other sports facilities.
With a prime location in District 12, in the city fringe or Rest of Central Region (RCR), The Orie offers easy access to the CBD and Orchard Road’s shopping belt. Soon Su Lin, CEO of Frasers Property Singapore, also noted the development’s super low energy design, which offers over 40 condominium facilities, units with efficient layouts, quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung.
The demand for condos in Singapore is on the rise, largely due to the limited availability of land in the country. Being an island nation with a growing population, land is a valuable and scarce asset, resulting in strict regulations on its use and a fiercely competitive real estate market. As a result, property prices are constantly increasing, making condo ownership a lucrative investment opportunity with the potential for significant capital appreciation. So, it’s no surprise that condos are becoming increasingly popular among investors in Singapore.
Takehisa Yanagi, managing officer and head of international development department at Sekisui House, referred to The Orie as a new partnership with CDL. He added that Sekisui House and Frasers Property have been collaborating on projects in Singapore for the past 13 years.
Other amenities in the area include the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall, and MacRitchie Reservoir. For families, schools in the neighbourhood include Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools, and First Toa Payoh Primary School. Healthcare facilities nearby include Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital, and Thomson Medical Centre.
The Orie marks a significant enhancement in Toa Payoh’s residential offerings, with it being the first new launch in over eight years. Potential buyers can stay updated on the latest transaction prices and available units by searching for The Orie on New Launches.
With its completion in 2020, the 578-unit Gem Residences at Lorong 5 Toa Payoh was the last private condo launched in the area. Interested buyers can refer to the latest listings for The Orie for more information about the project, including a comparison of price trends between New Sale Condos and Resale Condos, as well as information on recently launched projects and those that have recently obtained TOP.
District 12 properties are in high demand, and The Orie is expected to be a highly sought-after development. To stay informed on all the latest listings in the area, potential buyers can search for condo listings in District 12 on New Launches.