– Developer and Philosophy: Selangor Dredging Berhad (SDB) emphasizes the value of freehold projects.
– Tenure: The Myra is a freehold project, demonstrating a commitment to lasting value.
– Land Acquisition: The project occupies an amalgamation of 17 land plots, collectively purchased in 2018 for $60.2 million.
Timeline and Uptake:
– TOP Date: The estimated TOP date for The Myra is end-November 2024.
– Current Status: Since its launch three months ago, the project has achieved a near 20% take-up rate for its 85 units.
Location and Accessibility:
– Proximity to Transportation: The Myra is strategically located near the Potong Pasir MRT station.
– Commercial Spaces: It is in close proximity to commercial spaces like the Poiz Centre.
Considerations:
– Pricing Analysis: The project is priced at an average of $2,000+ per square foot, showing a premium compared to neighboring projects.
– Comparison with Neighbors: The pricing gap raises questions about whether the tenure and exclusivity justify the additional cost.
– Investment Concerns: Potential investors and homeowners may have concerns about the relatively higher pricing.
Future Outlook:
– Long-Term Value: The freehold tenure adds long-term value to the project, making it an attractive option for the future.
– Potential Challenges: The relatively higher pricing might pose challenges, and questions about the pricing gap need to be addressed.
Overview:
– Showflat next to Shopping Mall.
– Land shielded from Upper Serangoon Road pollution.
– 85 units on a 30,000 sq ft land.
Development Context:
– Developed by Selangor Dredging Berhad (SDB).
– Freehold project amalgamating 17 land plots.
– Purchased collectively for $60.2m in 2018.
– Estimated TOP by end-Nov 2024.
– Nearly 20% take-up rate since the launch.
Differentiation and Features:
– Small boutique condo project.
– Rectangular plot with 85 units.
– Units range from 1 to 4 bedrooms.
– Land size per unit: 361 sq ft.
– Building facade changes from champagne to gold.
– Two blocks combined due to constricted space.
Design and Facilities:
– 8 units per floor (level 2 to 9), 7 units per floor (level 10 to 12).
– 2 lifts serving all floors without private lift access.
– Variation in unit tiers, offering 10 inter-unit variations.
– Arrival point seems cozy with an oculus for sunlight.
North Site Facilities:
– Units elevated above ground, lowest on the 2nd floor.
– Added ceiling height to ground floor for a walkway.
– Facilities include a 25m lap pool facing Woodsville 28.
South Site Facilities:
– Hydrotherapy pool and hydro gym adjacent to the lap pool.
– Sheltered outdoor gym, shallow play pool, children’s playground, and leisure lawn.
– Small shallow kids swimming pool.
Additional Amenities:
– 80% lot allocation for underground parking.
– Total of 68 lots, 2 handicapped lots, and 22 bicycle bays.
– Lots allocated on a first-come-first-serve basis.
– Car park usage monitored post-TOP.
– Owners with additional vehicles may get lots on a season parking/monthly-fee basis.
Unit Details:
Entrance and Foyer:
Kitchen:
Dining:
Living Room:
Storage:
Bedrooms and Study:
Master Bedroom and Bath:
Overall Design:
Unit Details:
Private Lift Lobby:
Dining Area:
Kitchen:
Living Room:
Storage:
Bedrooms:
Bathrooms:
Overall Design:
1. Quiet Environment: AMO Residence is located in a serene and quieter part of Ang Mo Kio, making it ideal for those who prefer a peaceful living environment.
2. Proximity to Parks: The presence of nearby parks such as BishanAng Mo Kio Park, Lower Peirce Reservoir Park, and Windsor Nature Park enhances the appeal for residents seeking a nature centric lifestyle.
3. Nearby Amenities: Daily necessities and food options are readily available, with supermarkets like Ang Mo Supermarket and Sheng Siong, as well as wet markets and popular eateries like Hong Heng Beef Noodle Soup & Laksa nearby.
4. Educational Institutions: The development is within 1km proximity to renowned primary schools like CHIJ St Nicholas Girls School and Ai Tong School, providing convenience for families with school going children.
5. Access to Top PreUniversity Institutions: The location is close to prestigious preuniversity institutions like Raffles Institution (RI), Raffles Girls’ School (RGS), and RI (JC).
Proximity to Public Transport:
Mayflower MRT is conveniently located just 500m away via the side gate, providing easy access to transportation.
Bus stations “Aft Ang Mo Kio Ave 2” and “Bef Ang Mo Kio Avenue 2” service various routes, making public transportation readily accessible.
Nearby Schools:
Amo Residence is within a 1km radius of two popular primary schools: CHIJ St Nicholas’ Girls School and Ai Tong School.
Additionally, Ang Mo Kio Primary School is within a 1km radius, offering flexibility in school choices.
Educational Institutions:
The development is close to renowned pre university institutions such as RI, RGS, and RI (JC), all less than a 10 minute drive away.
These institutions have a track record of producing top scholars and are considered feeder schools to prestigious international universities.
Shopping and Dining:
AMK Hub, the nearest mall, is a 6 minute drive away, offering a wide range of retail and dining options.
Central Location:
Ang Mo Kio is centrally located, with key destinations such as Orchard Road, CBD, and Suntec City all within a 20km radius.
Destination | Distance From Condo | Fastest Time at Peak Hour Drive Time |
CBD (Raffles Place) | 14.0km | 18 mins |
Orchard Road | 11.6km | 14 mins |
Suntec City | 12.1km | 16 mins |
Changi Airport | 20.9km | 20 mins |
Tuas Port (By 2040) | 43.1km | 45 mins |
Paya Lebar Quarters/Airbase | 10.5km | 14 mins |
Mediapolis (and surroundings) | 13.4km | 18 mins |
Mapletree Business City | 15.4km | 24 mins |
Tuas Checkpoint | 32.6km | 30 mins |
Woodlands Checkpoint | 15.8km | 16 mins |
Jurong Cluster (JCube) | 18.1km | 22 mins |
Woodlands Cluster (Causeway Point) | 12.7km | 14 mins |
HarbourFront Cluster (Vivo City) | 16.9km | 20 mins |
Punggol Cluster (Waterway Point) | 13.9km | 14 mins |
Immediate Road Exits:
1 exit onto Ang Mo Kio Avenue 1, connecting residents to the CTE for easy access to the rest of Singapore.
Developers:
1.UOL Group: A well established and publicly listed company on the SGX, UOL Group has a long history in property development, investments, and hotel operations. They have a solid reputation with iconic projects dating back to the 1970s, including recent launches like Clavon and Avenue South Residence.
2.Kheng Leong: Founded in 1949, Kheng Leong has evolved into an investment holding company with diverse property interests. Owned by the Wee family, they have engaged in a wide range of developments, from ultra luxurious projects like Nassim Park Residences to mass market ones such as The Topiary and Double Bay Residences. Their recent launches include Avenue South Residence and Meyerhouse.
DEVELOPER SPOTLIGHT: SINGAPORE LAND GROUP: Operating under United Industrial Corporation Limited (UIC), Singapore Land Group Limited specializes in real estate activities, including investment, consultancy, development and management, information technology, and property management. The company, a subsidiary of UIC, is involved in the trading of computers and related products, as well as investments in retail centers and hotels. With a presence in the UK and China, Singapore Land Group is committed to leveraging its strengths to deliver distinctive products and ensure sustainable growth in the real estate industry.
When considering Amo Residence, it’s essential to compare it with neighboring developments to assess its value proposition. Here’s how it stacks up against similar properties:
Development | Units | Psf | TOP | Tenure | Price Gap |
Amo Residence | 372 | $2,100 | 2026 | 99 Years | |
The Panorama | 698 | $1,711 | 2017 | 99 Years | 23% |
Thomson Grand | 339 | $1,510 | 2015 | 99 Years | 39% |
Centro Residences | 329 | $1,567 | 2014 | 99 Years | 34% |
Grandeur 8 | 579 | $1,215 | 2005 | 99 Years | 73% |
Lattice One | 48 | $1,907 | 2022 | Freehold | 10% |
Jadescape | 1,206 | $1,863 | 2022 | 99 Years | 13% |
Notes:
Detailed Price Breakdown:
Amo Residence, purchased at $381,381,000, has an estimated breakeven of $1,822 psf after accounting for additional costs.
Bedroom Type | Size | Est. Price | Est. $PSF |
2 Bedroom | 614 | $1,260,000 | $2,052 |
3 Bedroom | 958 | $1,810,000 | $1,889 |
4 Bedroom | 1292 | $2,480,000 | $1,920 |
5 Bedroom | 1475 | $2,850,000 | $1,932 |
Note: Estimated prices for different bedroom types within Amo Residence compared with other new launches within district 20 and the Outside of Central Region (OCR).