For those who live in East Coast, Amber Park would ring a familiar bell. Amber Park is this iconic high-rise condominium with cup-shaped balconies. It was developed by City Developments Limited (CDL) and was completed in 1986. There are 200 units in the development.
Well, that was the old Amber Park. What happened was that in October 2017, Amber Park was sold en bloc for S$906.7 million. This was Singapore’s largest freehold collective sale by dollar value. The buyer? A certain Cityzens Development and joint-venture partner Hong Realty. Cityzens may not ring a bell but that is actually a wholly owned subsidiary of City Developments.
Plans are to redevelop the development into a 592 unit development called The Opus.
The draw? The upcoming Thomson East Coast MRT Line. The nearest station is Tanjong Katong MRT Station and that is a mere 5-minute walk away.
Any other draws?
Well, sea views are a huge plus. Not all units will have sea views though. It is a huge plus to wake up to a nice view of the sea on a daily basis. I’ve always maintained, a view of a sea is increasingly rare in an increasingly built-up city like Singapore.
I do not expect prices to be cheap though. Units at Amber 45 were sold for more than $2,000 per square foot. Thus I would expect The Opus to be sold at prices at or above Amber 45’s.
It won’t be cheap but if location and living environment is paramount, then this should be one of the better freehold new launches in the East. It is by CDL as well so quality should be good. Details will be out in the weeks ahead. More details of The Opus can be found here. You can request for the brochure and price list and they will be emailed to you once it is released.
I’ll do up a proper review once I get more details. I’ll talk about the good and the bad as well as a comparative price analysis of the development in relation to the surrounding new launches and the resale market.