The highly anticipated AMO Residence is slated to commence Preview from 9 to 19 July 2022, with booking day being on the 23 July 2022.
Ahead of its launch, we take a look at some of the attributes of this project and analyse some price trends.
If you'd like know more about AMO Residence, check out the website here: AMO Residence.
First, a bit of background.
The land plot upon which AMO Residence sits on was released as the Ang Mo Kio Ave 1 site under the Government Land Sales (GLS) Programme.
This land plot is next to a landed residential enclave and beside some existing HDBs.
The land plot attributes are as follows:
ALLOWABLE DEVELOPMENT: Residential
SITE AREA: 12,679.4 m²
MAXIMUM PERMISSIBLE GFA: 31,699 m²
The land plot was opened for tender on 26th November 2020 and was closed six months later on 25th May 2021, attracting many developers to place their bids.
The top bid of $381.38 million ($1,118 psf / $12,031 psm per plot ratio) was submitted by United Venture Development, a 60:20:20 joint venture (JV) between UOL Group, Singapore Land Group, and Kheng Leong.
|RANKING||NAME OF TENDERER||TENDERED SALE PRICE ($)||TENDERED SALE PRICE IN $PSM OF GFA|
|1||United Venture Development (2021) Pte. Ltd.||381,381,000.00||12,031.33|
|2||Titus Residential SG Pte. Ltd.||358,888,000.00||11,321.75|
|3||Far East Civil Engineering (Pte.) Limited, Fortune Harmony Limited and Sekisui House, Ltd.||353,333,333.00||11,146.51|
|4||Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Oriental Worldwide Investments Inc||335,900,000.00||10,596.55|
|5||GLL C Pte. Ltd.||334,802,225.00||10,561.92|
|6||CEL Development Pte. Ltd., Sing-Haiyi Treasure Pte. Ltd. and Chuan Investments Pte. Ltd.||331,888,888.00||10,470.01|
|7||Winrich Investment Pte. Ltd.||328,688,888.00||10,369.06|
|8||Siong Feng Development Pte Ltd and Ultra Infinity Pte Ltd||325,888,889.00||10,280.73|
|9||Grand Cullinan Pte. Ltd.||325,188,188.00||10,258.63|
|10||EL Development Pte Ltd||315,800,000.00||9,962.46|
|11||Intrepid Investments Pte. Ltd., Garden Estates (Pte.) Limited and TID Residential Pte. Ltd.||314,500,000.00||9,921.45|
|12||Sing Holdings Residential Pte. Ltd. and Cedar Investments Pte. Ltd.||307,500,000.00||9,700.62|
|13||Sim Lian Land Pte Ltd||305,100,000.00||9,624.91|
|14||SL Capital (7) Pte. Ltd.||303,999,000.00||9,590.18|
|15||Japura Development Pte Ltd||248,535,000.00||7,840.47|
The winning land bid translated to a land cost of $1,118 psf ppr.
Besides bearing a striking (and memorable) resemblance to the often used abbreviation of "AMK" that, colloquially, stands for Ang Mo Kio, "AMO" derives its meaning from the Spanish translation of the word "love" in English - amor.
And that's partly where the tagline comes in as well, though we find it a bit long and can be quite hard to remember - "Where Life Finds Its Heart. Within, Amongst, and Beyond".
Essentially it means AMO Residence is a place where you and your family will fall in love with, and find great joy to be living there. We think.
Being sited on a plot of land next to a landed home area means that the Developer has had to be careful in the way that the residential blocks were positioned - they are not allowed to be too close to the boundary with the landed homes.
AMO Residence is located a mere 5 mins (or about 430m) away from the nearest MRT, Mayflower MRT.
|Project Title||AMO Residence|
|Developer||United Venture Development (2021) Pte. Ltd.
(Joint Venture By UOL Group Limited, Singapore Land Group, Kheng Leong Company)
|Tenure||99 years commencing from 30 August 2021|
|Description||Residential flat development comprising 2 blocks of 25-storey apartments (total : 372 units) with basement and 1st storey carpark, swimming pool and communal facilities on lot 18618V MK 18 at Ang Mo Kio Rise (Ang Mo Kio Planning Area)|
|Address||21 Ang Mo Kio Rise (Singapore 569417)
23 Ang Mo Kio Rise (Singapore 569418)
|Site Area||12,679.4 sqm|
|Total No. of Units||372|
|No. of Carpark Lots||372 residential car park lots (consisting of 368 car park lots and 4 Electric Vehicle car park lots) and 4 accessible car park lots|
|Expected date of NOVP||31 Dec 2026|
|Expected Legal Completion Date||31 Dec 2029|
|Architect||P&T Consultants Pte Ltd|
|Project Interior Design||Index Design Pte Ltd|
|Penthouse Interior Design||Takenouchi Webb|
|Showflat Interior Design||Index Design Pte Ltd, SuMisura|
|Landscape Consultant||Sitetectonix Pte Ltd|
|Main Contractor||United Tec Construction|
To maximise views and also to ensure no buyers will run into West sun issues, the 2 blocks are facing North South, with the main 50m lap pool positioned in between.
The landscaping is pretty impressive - within the compound, there are as many as 7 swimming pools and 3 club houses.
There is also the provision for 1-1 carpark lots, and 62 bicycle lots.
Reading the above traits about the project, you might be wondering if AMO Residence is worth investing in.
Here are 5 reasons to consider this development.
Why this is important : This means pent-up demand,with many buyers in the area potentially having fulfilled MOP (or SSD) and looking for their next home
An oft-touted trait about AMO Residence is that it's the first new launch in Ang Mo Kio in 8 years, but is it true?
The following image depicts the new launches in Ang Mo Kio, with the latest 2 projects being The Panorama and Floraview. The Panorama is a larger project at 698 units, which is a better proxy for us to use as a comparison to AMO Residence.
The Panorama first started sales in Jan 2014, which, till today, is indeed an 8 year gap since.
And taking a deeper look into the price transaction data, there has been no unprofitable transactions at The Panorama. Recent transactions have clocked a few hundred thousands in profit.
The Panorama transaction data.
From the price trend chart, the profitability of the project stands out even more.
Prices have moved by 39% since its launch.
Why this is important : Being within 1km to a Top School has direct impact on property purchase and rental demand
We firmly do believe that every school is a good school, though admittedly, for many Singaporean parents, there are some primary schools that are
more good "better" than the others.
And we all know the effect that being near to a Top school can have on property prices - every year, there will be another batch of parents looking to acquire (or rent) a property near their school of choice to better their chances at giving their kids the best education they can.
AMO Residence benefits from being within 1km to 2 very popular schools.
Using the OneMap School Query Tool (something every parent should get acquainted with) reveals that AMO Residence is within 1km to Ai Tong, Ang Mo Kio Pri and CHIJ St Nicholas.
Taking reference from an article by local property site PropertyGuru, the 11 popular schools in Singapore counts Ai Tong and CHIJ ST Nicholas amongst them.
See : 11 Popular Primary Schools in Singapore and Properties Within 1km of Them, PropertyGuru
|Primary School||Area||Projects Within 1km|
|Ai Tong School||Bishan||Bishan Point, Fulton Hill|
|Anglo-Chinese School (Junior)||Central||Cavenagh Court, Kopar, The Atelier|
|Anglo-Chinese School (Primary)||Bukit Timah||Five Chancery, Chancery Park, Balmoral Gate|
|Catholic High School (Primary)||Bishan||Coral Park, Seasons View|
|CHIJ St Nicholas Girls’ School (Pr)||Ang Mo Kio||Saint Nicholas View, Wellington Park, The Panorama|
|Nan Hua Primary School||Clementi||The Trilinq, Faber Hills Estate|
|Nanyang Primary School||Bukit Timah||The Asana, Coronation Gardens|
|Raffles Girls’ Primary||Bukit Timah||Hillcrest Villa, Watten Residences, Hillcrest Arcadia|
|Rosyth School||Serangoon||Hundred Palms, Regentville|
|St Hilda’s Primary School||Tampines||Arc at Tampines, The Tapestry|
|Tao Nan School||Marine Parade||D’Ecosia, Villa Martia|
In the list of projects listed above, none of them are listed twice.
However, AMO Residence will simultaneously be within 1km to Ai Tong and CHIJ.
We all know the significance of being within 1km to a top school - higher chances for kids to enroll into a primary school of choice.
Case in point - at The Panorama, besides a stellar price performance, there is no lack of rental demand.
Recent transactions have hit as high as $5.8 psf per month.
Above : Rental contracts at The Panorama
Why this is important : Make no mistake - in the resale market, many buyers are still looking for projects by good developers since this means better quality and less likelihood of defects
Having a reliable developer behind a condo new launch gives a lot of assurance over delivery timelines and most importantly - quality of work.
AMO Residence is developed by UOL, Singapore Land Group (a subsidiary of UOL) and Kheng Leong.
Over the past 6 years, UOL has achieved higher than average Conquas (Construction Quality Assessment System) scores as according to BCA's website.
On their corporate website, UOL lists as many as 41 residential projects (both completed and in construction) in their Singapore portfolio, with several well known condos that have been very well received and have went on to achieve stellar price performance.
One of their recent projects, The Clement Canopy, TOPed in 2019 and has not seen a single unprofitable transaction.
Transaction Data at The Clement Canopy
Why this is important : Mature estates are generally more developed, better equipped with amenities and public transport infrastructure
In recent years, Singaporeans have increasingly gravitated towards BTO launches in mature estates.
In 2020, hot favourites Toa Payoh, Ang Mo Kio & Bishan emerged as popular picks for mature estates.
Taking a quick scan of the HDB transactions around the AMO Residence area, there are several transactions for 5R HDB apartments that have already exceed $1m, with the highest being at 260A Ang Mo Kio St 21, which achieved a price of $1,150,000.
With HDBs already at $1m, this creates a very strong price support for condo projects.
Several HDB estates in the Ang Mo Kio area exceeding the $1m price point.
Another advantage of being in a mature estate is the presence of plentiful amenities in the surrounding area.
A short walk from AMO Residence will bring you to a supermarket and a coffee shop.
Why this is important : Other upcoming land plots which potentially will sell at even higher prices means making a move now confers a First Mover Advantage
Last but not least, what makes AMO Residence a compelling consideration at this point in time is that there are several upcoming land plots and developments coming up at the nearby Lentor area, which serves as the perfect hedge for prices at AMO.
Of course, we make the best decisions with the best info at each point in time, so it does not mean that purchasing the Lentor developments would make a bad choice; it's just that if you were early and looking for a potential entry into a new launch project, at this point in time, the Lentor projects look set to sell at even higher prices than AMO Residence.
The fact that the AMO Residence land plot drew as many as 15 bidders makes an important point as to the draw and appeal of the land plot.
In comparison, the first land plot that was launched in the Lentor area (called Lentor Central, which confusingly, is the same name as 2 other land plots launched in the area) drew 9 bidders, with Guocoland winning the bid.
If you'd like to know more about the Lentor land plots, check out the first project in that area: Lentor Modern.
One more thing that not enough people seem to be talking about, is the fact that right in front of AMO Residence is another currently empty plot of land.
This land has a pretty high plot ratio and is slated for residential development.
This means that the views towards the south could potentially be blocked by this new condo project, so that's definitely something to look out for.
The AMO Residence showflat is located at the project site, along Ang Mo Kio Ave 1.
Showflat visits are by appointment only, so if you'd like to take a look, make a booking here:
With quite a number of factors working in favour of AMO Residence, in particular being within 1km to 2 Top Schools, and being launched ahead of the upcoming Lentor residential projects, AMO Residence is well worth consideration.
If you'd like to know more about the project, check out: AMO Residence.