Amber Park is a new launch in District 15 Singapore. In recent years, we have seen the demand for real estate in this district hitting new highs. Demand for real estate in this district is very much due to the fact that this district is along East Coast and this happens to be very much of a lifestyle location of Singapore.
Getting to the airport is easy if you are living in this part of Singapore with a mere 10-15 minutes drive via the East Coast Parkway (ECP). The ECP was built in 1981 for the purpose of connecting business travellers to and fro from Changi International Airport to the City Centre. Much of the landscape along the ECP has changed ever since. Condominiums were built on the reclaimed land that was once the east coast of Singapore. That is why East Coast Road had its name. Marine Parade is a town that is built completely on reclaimed land. With the population growth in Singapore exploding, with the foreigners coming in, land was getting scarce and the demand for more efficient use of land and space is very much needed. Older condominium projects were torn down to make way for newer developments by means of collective sales by the owners.
The former Amber Park was one such example of the renewing landscape of the Singapore property market in this vicinity. Previously, Amber Park was developed by CDL – City Developments Limited, incidentally, the new Amber Park is also being developed by CDL! This happened when CDL successfully put in the aggressive winning bid for the collective sale of the former Amber Park at a whopping $906.7 million Singapore dollars in . This works out to $1,515 per square foot per plot ratio. This simply means that the cost of land for the CDL is $1,515 for every one square foot of built-up area.
Amber Park sits on a plot of land that spans across Amber Road and Amber Gardens, total land size is approximately 213,675 sq ft. Possibly one the last few sites that is more than 200,000 sq ft in this precinct for redevelopment.
The Amber Road area is an established private residential enclave that enjoys a strong following from both locals and expatriates alike, due to its proximity to the central business district, East Coast Park and the airport.
The site is also within 1km to Tanjong Katong Primary School and 2km to CHIJ (Katong) Primary, Haig Girls’ School, Kong Hwa School and Tao Nan School, which are popular primary schools.
Connectivity will be further enhanced when Tanjong Katong MRT station, located 200m from the site, is completed in 2023. This is approximately a mere 3 minutes walk away. This will definitely attract a strong pool of tenants who works in the CBD and yet would want a certain work-life balance lifestyle in East Coast.
Designed by SCDA Architects’ principal architect Chan Soo Khian. The new Amber Park consists of 3 towers of 21 storeys with the 22nd storey being The Stratosphere level connecting all 3 towers with 32,507 sq ft of recreation deck that consists of 600 metres jogging track, yoga deck, gym and spa pool, among other facilities. Everyone gets the view regardless of which stack or level you buy. There is a total of 592 units – comprising of 1,2,3,4,5 bedrooms and 3 penthouses.
Not all units get to enjoy the spectacular sea view but with the stratosphere level, it does not matter as much anymore. There is even a tagline that says – get the runners high on the stratosphere level. Residents will be glad to know that there will be residential concierge services as well!
Unit size is definitely not as huge as the former but it is definitely much more efficient compared to “unused” space of the yesteryears layout designs. There was a period when developers were creating huge planter boxes and bay windows in some projects, home shelters were a must. These added to almost 20-25% of unusable space. Today’s layouts and designs are definitely much more efficient and with shrinking family sizes, even a 2 bedroom unit at 678 sq ft is comfortable for a young family of 3. Larger families may want to consider the larger 3,4 or 5 bedroom units that are available as well.
Property investors will be glad to know that 1 bedroom units are available but singles who enjoy the hip lifestyle of the east is assured of this as well. With more people getting married later in life, the demand for 1 bedroom units has seen significant increases as well. This is commonly seen as the 1st property purchase for the young executive that has made some headway in life and is someone who wants something that is unique and different. Not your typical courting couple that starts with a BTO HDB – some actually use this as a form of a marriage proposal.
CDL has seen a reasonable take up rate on launch day with 115 units being snapped up by buyers by way of balloting. As of now, more than 140 units have been booked. We anticipate this project to be very well received by fans of District 15 and this project should be a sellout success for CDL.
Mr Sherman Kwek, CDL CEO-designate, said: “This is one of our most significant investment deals in the Singapore residential market in recent years. CDL was the original developer for Amber Park in the 1980s and we are honoured to be able to redevelop the site into yet another iconic landmark.”
Read more at https://www.channelnewsasia.com/news/singapore/amber-park-sold-for-s-906-7m-in-record-freehold-en-bloc-sale-9277902