In 2018, the average psf price at Gem Residences was $1,426. At the time of writing, prices at the development range from $1,320 to $1,580, with a median psf price of $1,527. The lowest transacted price for a unit at Gem Residences was $480,000 for a 300 sq ft studio apartment. The highest transacted price was $2.8 million for a 1,356 sq ft four-bedroom unit, which works out to $2,064 psf. The median price for a unit at Gem Residences is $1.18 million, based on the past 29 transactions in 2019.
City Developments Limited (CDL), Frasers Property, and Sekisui House are set to unveil the highly-anticipated The Orie on Friday, January 3, with the official launch scheduled for January 18. Located on Lorong 1 Toa Payoh, at the intersection with Lorong 4 Toa Payoh, The Orie is expected to be a major draw for buyers in Singapore.
The 777-unit private condo is spread across two 40-storey towers and offers a range of unit sizes from one-bedroom plus study apartments of 517 sq ft to five-bedroom units of 1,453 sq ft. The developers have priced the units starting from $1.28 million ($2,476 psf) for a one-bedroom plus study apartment, $1.48 million ($2,500 psf) for a two-bedroom apartment, $2.09 million ($2,459 psf) for a three-bedroom apartment, $2.92 million ($2,401 psf) for a four-bedroom apartment, and $3.48 million ($2,395 psf) for a five-bedroom apartment with an exclusive private lift.
The Orie marks the first new launch of a private condo in Toa Payoh since 2016, when Gem Residences, a 578-unit project, was launched. The joint venture by the three property developers submitted the highest bid of $968 million for the government land sales (GLS) site at Lorong 1 Toa Payoh, with a land rate of $1,360 psf per plot ratio (ppr).
“We are thrilled to start the new year with the launch of The Orie, the first private residential launch in Toa Payoh in over eight years,” says Sherman Kwek, CDL’s group CEO. “Strategically located in the highly sought-after Toa Payoh estate, homebuyers will enjoy its central location and excellent connectivity.”
The Orie is a five-minute walk to Braddell MRT Station on the North-South Line (NSL) and is close to the Toa Payoh Integrated Transport Hub, which connects the Toa Payoh Bus Interchange to Toa Payoh MRT station. The 12-ha integrated development and community hub, set for completion in 2030, will feature a sports centre with swimming pools, indoor sports halls, a football stadium, a polyclinic, and a public library.
Other amenities in the vicinity include the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall, and MacRitchie Reservoir. Families will appreciate the proximity to popular schools such as Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools, and First Toa Payoh Primary School.
Healthcare facilities nearby include Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital, and Thomson Medical Centre.
Located within District 12 in the city fringe or Rest of Central Region (RCR), The Orie offers easy access to the CBD and Orchard Road shopping belt, according to Soon Su Lin, CEO of Frasers Property Singapore.
The development features over 40 condominium facilities and units with efficient layouts, premium fittings by Hansgrohe, bathroom wares by Duravit, and high-end home appliances by De Dietrich and Samsung.
Takehisa Yanagi, managing officer and head of international development department, Sekisui House, says that The Orie marks a new partnership between the Japanese developer and CDL, despite having collaborated on projects in Singapore for the past 13 years.
The 578-unit Gem Residences at Lorong 5 Toa Payoh, launched in 2016 and completed in 2020, boasts an average psf price of $1,426 in 2018. At the time of writing, prices at the development range from $1,320 to $1,580, with a median psf price of $1,527. The lowest transacted price for a unit at Gem Residences was $480,000 for a 300 sq ft studio apartment, and the highest transacted price was $2.8 million for a 1,356 sq ft four-bedroom unit, which works out to $2,064 psf. The median price for a unit at Gem Residences is $1.18 million, based on the past 29 transactions in 2019.