Amber Park Freehold Condo by 2023 - The highly sought afer project

City Developments (CDL) and Hong realty (a subsidiary of the Hong Leong Group) have acquired ownership of Amber Park in the en-bloc sale in Singapore. Although the en bloc sale attracted top players in the industry, CDL eventually won the bid with Amber Park Price reaching about S$907 million in one of the largest JV in the region. The sale price of Amber Park CDL represents a land ratio of about S$1,515 per square feet ppr based on the the allowable GPR of 2.8 without development expenses on the redevelopment. Hong realty and Cityzens Development list the 200-unit involved with Hong realty owning a 20% stake of the project. Based on the 2014 master plan, Amber Park condo site occupying 213,670 sq ft is a place for residential developments. Every of the individual owner of the condo is set to receive gross purchases proceeds averaging between S$4.3 million and S$8.3 million. As the original developer of the prior 200-unit Amber Park developed in 1986, CDL state that they understand the best what is suitable for the area. The company aims to redevelop the area to house luxury condos including up to four 25-storey buildings with approximately 800 units plus a car park in the basement, a plan requiring review and agreement. According to CDL, most of the units at Amber Park condo will be developed with a North-South facing orientation which enables the future residents of Amber Park to enjoy the stunning seaview. This future iconic landmark is expected to be an ideal investment deal in the residential Market of Singapore. The unparalleled development place will benefit both investors and CDL in view of the fact that 999 years properties in Singapore are scarce. Upon completed, the Amber Park condo will offer an ideal area for families whom work in the area to secure an amazing living space.

Amber Park condo locates in well developed area which makes it a highly sought after place. With several concurrent projects in the place, it very likely will yield many benefits to the residents. In addition the strategic location enables Amber Park condo to have the exceptional connection to other areas of Singapore as well as access to various amenities. This zone is well known for the rich cultural heritage and delicious foods, and is close to malls such as Parkway Parade and I12 Katong, as well as good schools like Tao Nan and Ngee Ann Primary, Tanjong Katong Primary, and CHIJ (Katong).
Amber Road, and the surrounding private residential area, has long had a loyal following, from both locals and expats because of its location: a short walk to the sea and to East Coast beach, and within 15 minutes drive from the Raffles CBD, Marina Bay, and Changi International Airport. In addition to attractive locational characteristics, a unique advantage of the place is its freehold status, something that is increasingly scarce in Singapore, said Mr Sherman Kwek, CEO-designate of CDL. With all these reasons including the stunning sea views, as well as its proximity (290 metres, within 4 minutes walk) to the future Tanjong Katong MRT station due for completion in 2023, strong demand is expected for this project.

City Development Ltd is a major real estate developer that operates in numerous places around the globe. The Singapore listed developer has grown its presence in 100 locations covering 28 countries as well as territories. It is also one of the largest companies in terms of market capitalization with a stable income and a diverse portfolio that contains serviced apartments, hotels, offices, shopping malls and integrated developments. The company has operated in the real estate industry more than 50 years offering services in real estate management, investment, and development. In the past, the company has built over 40, 000 houses and it owns a total of 18 million square feet lettable floor area globally. Its key localities of operations include Singapore, Australia, Japan, UK, and China. CDL’s London based and listed subsidiary, Millenium & Copthorne Hotels plc is a leading hotel chain word wide. It has over 135 hotels globally located in major gateway cities. With a proven track record of 50 years, the developer has developed more than 40,000 homes globally and got many prestigious awards, such as, Quality Excellence Awards, Building and Construction Authority Awards, Workplace safety and Health Awards, etc. For more than 20 years, the developer has been aiming for green innovations to build bold and inspiring green buildings for a better tomorrow. With these proven track records, future home owners of Amber Park could anticipate a luxury home to stay upon completion.

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