AMO Residence preview draws 7,500 over long weekend

by Albert02

AMO Residence preview draws 7,500 over long weekend

AMO Residence preview draws 7,500 over long weekend.  On Saturday, July 9, AMO Residence, a 372-unit private condo project located just off Ang Mo Kio Avenue 1, was previewed. According to property developer UOL Group, as of 2 p.m. on July 11, the project had drawn approximately 7,500 people to its sales gallery over the long weekend.

“AMO Residence had a very strong first weekend of preview because it is the first major non-landed project launch in the OCR [Outside Central Region] in 2022,” says Lee Sze Teck, senior director of research at Huttons Asia. UOL Group, Singapore Land Group, and Kheng Leong Co. collaborated to develop AMO Residence, which sits on a 136,480 sq ft, 99-year leasehold site purchased in May last year for $381.38 million ($1,118 psf per plot ratio).

The new development includes two 25-story residential towers with a variety of two- to five-bedroom unit types. Eighty-one percent of the units are two- and three-bedroom units ranging in size from 614 to 1,367 square feet. There are also three penthouses ranging in size from 2,293 to 2,497 square feet. Two-bedroom units begin at $1.26 million, three-bedroom units begin at $1.81 million, four-bedroom units begin at $2.48 million, and five-bedroom units begin at $2.85 million.

Several schools, including CHIJ St Nicholas Girls’ School, Ai Tong School, and Ang Mo Kio Primary School, are within 1km of the project. It also has easy access to parks such as Lower Peirce Reservoir Park and Bishan-Ang Mo Kio Park. Ang Mo Kio will be transformed into Singapore’s first fully developed walking and cycling town as a 20-kilometer cycling path is built around the estate in stages.

AMO Residence is a five-minute walk from Mayflower MRT station on the Thomson-East Coast Line, which opened in August last year. The development is also near shops and eateries along Thomson Road, as well as malls like Thomson Plaza; Junction 8 at Bishan Place, which is connected to the Bishan MRT Interchange and bus interchange; and AMK Hub, which is also connected to the bus interchange and the Ang Mo Kio MRT station, which will be the future interchange for the North-South and Cross Island Lines.

According to Huttons Asia CEO Mark Yip, “prospective buyers are drawn to the location because Ang Mo Kio is a mature estate that is centrally located.” AMO According to Yip, residence units have views of greenery and unobstructed views of the nearby Shangri-la Park private housing enclave, as well as proximity to the recently opened Mayflower MRT station, popular schools, and parks. According to Yip, the development includes a number of amenities such as seven swimming pools and a tennis court, both of which are uncommon in suburban developments these days.

“There is pent-up demand in Ang Mo Kio because The Panorama was launched eight years ago,” says Huttons’ Lee. Wharf Estates Singapore debuted the 698-unit The Panorama at Ang Mo Kio Avenue 2 in January 2014. (formerly known as Wheelock Properties). Based on caveats lodged with URA Realis in January and February 2014, the average price of units sold was around $1,360 psf. In 2017, the 99-year leasehold condo was completed.

“Ang Mo Kio is a well-established estate with a few HDB BTO [Built-to-Order] projects that have completed the five-year MOP,” says Lee. Four-room HDB resale flats in these new BTO projects sold for more than $800,000 in 2022, he adds. According to the most recent Department of Statistics data, over 12,000 households in the Ang Mo Kio planning area have a monthly income of at least $14,000.

AMO Residence will be available a fortnight from now, on July 23. ERA, Huttons Asia, and PropNex have been appointed as marketing agencies. The project is scheduled to be completed in 2026. “We are delighted to launch AMO Residence in a well-developed, mature housing estate that has all the modern comforts and amenities while retaining its own distinct character and charm,” says Jesline Goh, UOL chief investment and asset officer, in a July 7 press release.

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Source: https://www.edgeprop.sg/property-news/amo-residence-preview-draws-7500-over-long-weekend


 
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