PREVIEWS for new Ang Mo Kio project AMO Residence, being built by UOL Group, Singapore Land Group and Kheng Leong Company, will start this Saturday (Jul 9) with prices starting at S$1,890 per square foot.
AMO Residence will be the first major residential launch in the Ang Mo Kio area in 8 years, and will be keenly watched to track market demand and appetite for pricing in the suburban housing market.
Over 80 per cent or 300 of the units available at AMO Residence will be 2- or 3-bedroom units with price tags starting from S$1.3 million and S$1.8 million, respectively. Limited numbers of 4- and 5-bedroom units that come with private lifts will be priced from S$2.5 million and S$2.9 million respectively.
Comprising a pair of 25-storey towers, the 372-unit condominium is located at Ang Mo Kio Rise off Ang Mo Kio Avenue 1 and is expected to be completed in 2026. The 99-year leasehold development will offer 2- to 5-bedroom units ranging from 614 square feet (sq ft) to 1,475 sq ft, along with 3 exclusive penthouses from 2,293 sq ft to 2,497 sq ft.
Sales bookings will commence on Jul 23.
AMO Residence is being developed by UOL Group in joint venture with Singapore Land Group and Kheng Leong. UOL holds 60 per cent in the venture, while the rest own a 20 per cent stake each.
The group’s chief investment and asset officer Jesline Goh believes the Ang Mo Kio project is likely to attract owner-occupiers in view of “the limited supply of new developments in the outside central region, as well as the availability of units at an attractive price quantum”.
The condominium will offer 2 levels of facilities including a clubhouse and a 50-metre infinity lap pool.
The development is situated within a 5-minute walk to Mayflower MRT station on the Thomson-East Coast Line, as well as 1 stop from the Bright Hill MRT interchange on the future Cross Island Line.
UOL said the development is also well-connected to other parts of the island via the future North-South Corridor, which will reduce travel times to Singapore’s Central Business District by up to 30 minutes.
Popular schools within a kilometre of the project include Ai Tong School, CHIJ St Nicholas Girls’ School and Ang Mo Kio Primary School. The development is also in the vicinity of restaurants and shops at Junction 8, AMK Hub and Thomson Plaza.
According to UOL in its press statement, the group’s recent residential development Clavon was fully sold in June this year following its launch in December 2020. UOL said its other developments, Avenue South Residence (launched September 2019) and The Watergardens at Canberra (launched August 2021), have “enjoyed brisk sales with limited units left”.
Shares of mainboard-listed UOL : U14 +1.23% were trading S$0.05 or 0.7 per cent higher at S$7.35 as at 2.47 pm on Thursday, after the announcement was made.