Latest update @ Q1 2020: More than 200 units sold!
Developer: JV between City Development and Hong Realty
Address: 16, 18 and 18A Amber Gardens
Total Units: 592
AMBER PARK is developed jointly by CDL and Hong Leong group, while the architect cum landscape consultant is the award-winning Chan Soo Khian of SCDA.
As background, the original Amber Park, a 200-unit development, was sold via a collective sale to a JV between a CDL subsidiary and Hong Realty, the private real estate arm of Hong Leong Group. This was the fourth en bloc attempt by the property, which was originally built by CDL. The sale price of S$906.7 million reflects a land rate of about S$1,515 per square foot (psf) per plot ratio. Break-even selling price is about $2,000 to $2,100psf.
The showflat is off the actual site. The actual site is of course along Amber Gardens, with another frontage at Amber Road. It is just 3 minutes walk to the upcoming Tanjong Katong MRT station of the Thomson-East Coast Line (which will be completed in 2023 about the same time as the expected TOP of Amber Park).
Why are developers so bullish about the Amber Road area?
- Firstly, the Amber Road area is one of the most sought-after precincts in D15, and it is at the heart of the East Coast / Katong district, with exceptional connectivity and convenience.
- Secondly, the Thomson-East Coast Line is expected to boost the prices of properties along the East Coast, as residents along this stretch will now be a few MRT stops away from Marina Bay and the CBD. Note that while Amber Skye is already completed, the other 4 new launches will be completed around the same time as the Thomson-East Coast Line. Expect a double boost to the prices of these 4 launches in 2023.
- Finally, the Amber Road area is very close to Parkway Parade mall, where an underground pedestrian shopping mall will be built to connect the upcoming Marine Parade and Marine Terrace stations. Expected completion date? 2023 too.
Among the 5 new condo launches, Amber Park stands out for its site area (214,000sf) as compared to the smaller plot sizes of the other 4 projects. Its architecture will also be quite imposing — a signature feature of Amber Park is The Stratosphere at Level 22 – a rooftop recreational deck, 235m above sea level that connects the three towers together and boost a 600m jogging track, gourmet kitchen, gymnasium among others. Expect the Stratosphere to be lighted up at night, which will make Amber Park the icon of the East.
The new Amber Park will have 592 units spread over 3 towers of 22 storeys each. Most of the units will have sea view or city view (overlooking the low-rise landed properties). Facilities and amenities will be on the ground level (where there will be a large Lagoon Bay to bring the feel of the East Coast to Amber Park) as well as on the Stratosphere.
Units come in a variety of sizes to suit all family sizes: 1 bedroom (463-549sf), 2 bedroom (678-883sf), 3 bedroom (947-1270sf), 4 bedroom (1302-1798sf), 5 bedroom (2045-2336sf), and penthouse (4392-5005sf). The units are very well-proportioned, functional, bright and nicely adorned with good finishing, and all bedrooms can fit at least a queen-size bed. For example, investor buyers may be attracted to the rare 1-bedroom layout which has a study area niche in the master bedroom, while owner-occupiers may be attracted to the 5-bedroom layout which has a beautiful double-volume high ceiling in the living/dining area.
In the Sales Gallery at Tanjong Rhu Road, there are 3 showflats: 2 bedroom + study, 3 bedroom and 5 bedroom. No showflats are available for 1 bedroom and 4 bedroom. Pls see Gallery below for the typical floor plan layouts.
Among the 5 new condo launches in the Amber Road vicinity, Amber Park may stand out as the Jewel of the East. It may not be on the same scale as Jewel of Changi Airport, but among residential condos, it may capture the hearts of many who aspire to a lifestyle that is a mix of sea, sun and sand …..
(Click here to compare Amber Park with 4 other new launches in the same vicinity:
The following are the typical prices of remaining units, as well as a price trend comparison between Amber Park and new launches in the immediate vicinity.
– from $1.0928m ($2360psf), 463sqft
– from $1.6112m ($2376psf), 678sqft
– from $2.1576m ($2278psf), 947sqft
4 +1 bedrooms
– from $2.9904m ($2297psf), 1302sqft
– from $3.4384m ($2187psf), 1572sqft
– from $4.7416m ($2319psf), 2045sqft
6 bedroom penthouse
– from $13m ($2959psf), 4392sqft
IN THE NEWS
“Amber Park in East Coast sells 115 of 150 units at $2425psf in weekend launch”
“Factors behind success of new property launches”
BT 5 Sep 2019 – Given the external uncertainties, more buyers will likely gravitate towards freehold projects, or projects located in districts earmarked for growth, as a form of risk mitigation. While property prices may fluctuate in tandem with economic growth, prices of freehold properties in areas that are planned for future development are perceived to be more resilient and hold the likelihood of a quicker rebound when the economy improves ….. Freehold projects in District 15 have generally done well, given its proximity to the CBD, mass availability of amenities in the area and the many planned upcoming MRT stations. A notable project which performed well in H1 2019 was Amber Park, a freehold project within proximity to good schools, the future Tanjong Katong MRT station, as well as popular leisure and fitness spot, East Coast Park …..
For the full article, pls visit https://www.businesstimes.com.sg/hub-projects/property-2019-september-issue/factors-behind-success-of-new-property-launches
BEFORE YOU LEAVE …
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Mike Tan | CEA Regn R059706Z | 98280030