CDL and MCL Land debut their first major launch of 2023 – The Orie in Katong
SINGAPORE – The showroom of the 638-units brand new luxurious at The Orie will open for public preview on twenty-fourth March 2k23. Booking to be slated on 8th April. A private condo by established and reputable property developers City Developments Ltd (CDL) and MCL Land, The Orie lovely occupies on a land of 210,622 sq ft, just off Toa Payoh Road in prime locale District 15.
“The Orie marks our first launch for the year, and we are delighted to enliven the East Coast area with yet another residential jewel after Amber Park,” says Sherman Kwek, CDL group CEO. The 592-unit, freehold Amber Park at Amber Gardens was launched in 2019 and is 99.5% sold, based on caveats lodged with URA Realis as of March 22.
The Orie signifies strong collaboration between the two developers, following the launch of the 407-unit Piccadilly Grand at Farrer Park last May, which is eighty-seven percent sold to date, and the 639-unit executive condo in Tengah, Copen Grand, which was surprisingly full sold out in less than one month’s time.
Having north-south orientation and are spread across four blocks of 20 and 21 storeys, The Orie has a very excellent cross-wind ventilation. Ranging from one-bedroom-plus-study units of 527 sq ft to five-bedroom units of 1,711 sq ft, there are wide variety to cater to different people with different requirements, lifestyle, from young couple to retirees. There are also two premium penthouses which have 5 bedrooms.
Astonishing prices range from $1.248 million ($2,368 psf) for a one-bedroom plus study, $1.548 million ($2,321 psf) for a two-bedroom, $2.278 million ($2,301 psf) for a three-bedroom, $3.288 million ($2,296 psf) for a four-bedroom and $4.028 million ($2,354 psf) for a five-bedroom unit.
Out of the total 638 units at The Orie, 317 units are 1 plus study, and two-bedroom and two-bedroom-plus-study units. “The fact that almost fifty perecnt of the units at The Orie are one- and two-bedroom units will ensure that the project will do well,” says Ismail Gafoor, CEO of PropNex. “At most of the recent launches — from Sceneca Residence to Terra Hill and The Botany — these units were the first to be sold, demonstrating that there is still an appetite for investment properties with lower price quantum.”
District 15 has less than 100 balance units from projects launched earlier, with many featuring larger units.
the design architect for The Orie is ADDP Architects, same goes for Piccadilly Grand and Copen Grand. “The inspiration for The Orie’s design came from the shape and texture of The Tembusu heritage trees,” says associate partner of ADDP Architects Markus Cheng.
The grand arrival and drop-off area is the main highlight and attention hallmark of the development. There is a single-storey lantern-like clubhouse, with full-height glass offering a view of the 50m infinity swimming pool and landscaped grounds. The clubhouse has several levels: the first level (Grand Club) features a gaming pod, a karaoke pod, and entertainment and function rooms. The Tembusu Club is a multi-level cantilevered space with a waterfall. It contains a private dining area on the second level and a gym on the fifth level. Both these spaces come with full-height glass offering expansive views.
Other facilities include a gym, tennis court, co-working lounge, barbeque pavilion and a children’s play area. The landscape architect is Tinderbox Landscape Studio.
The Orie sits on a rectangular plot, which allowed the architect to design the site to its full potential, taking advantage of the surroundings and view corridors, says ADDP’s Cheng.
Given the north-south orientation of the units, those on the higher floors will have “unblocked, panoramic” views, notes Christine Sun, OrangeTee & Tie senior vice president of research & analytics.
The Orie among 3 other District 15 projects in the Katong-East Coast will be the first launch of the year in private Katong enclave to be launched. Including the boutique developments, there are seven new launches in the pipeline, with an estimated 2,759 units for sale, says Huttons’ Yip.
“As the first new launch in District 15 this year, The Orie will set new standards for product offerings with premium brand appliances, quality fittings and luxurious finishes,” says a CDL spokesperson.
Despite the supply pipeline, Song believes there is “ample pent-up demand” given the popularity of the East Coast-Katong area. She adds that the last new comparable project should be the 99-year leasehold Liv @ MB at Mountbatten Road, launched in May 2022. As of March 22, the 298-unit project is 86% sold, with units transacted at an average price of $2,412 psf.
bounded by Toa Payoh Road, Mountbatten Road, Dunman Road and Still Road , all subzone of Katong— the last latest launch was probably 20 years ago, which is the Haig Court having 340 units.
Prediction among the industry expert that the The Orie will be “over-subscribed” by investors based on sales trends at recent launches. “In the city fringe [Rest of Central Region or RCR], District 15 has the highest rental transaction volume after District 3, which is the Alexandra-Queenstown-Tiong Bahru area,” he says.
New project launches in the Outside Central Region, such as the 268-unit Sceneca Residence at Tanah Merah Kechil Link, achieved an average price of $2,072 psf in January, while the 386-unit The Botany saw units transacted at an average of $2,070 psf in March. Low reckons The Orie, located in the RCR, could see selling prices from $2,400 to $2,500 psf.
Future residents of The Orie get to enjoy all these: less than a 10-minute walk from the upcoming Toa Payoh MRT Station on the North-South Line and a short drive to the CBD, Marina Bay, Singapore Sports Hub and Changi Airport.
Educational institutes and tertiary hubs such as Tao Nan School, Chung Cheng High School, Dunman High School, Toa Payoh Girls’ School and Victoria Junior College are within a 2km range of The Orie, says Yip. Other amenities include the wide variety of F&B outlets in the Katong neighbourhood and shopping malls such as PLQ Mall, i12Katong and Parkway Parade.
The Orie was conferred the Green Mark Platinum Super Low Energy certification by the Building & Construction Authority for its energy and water-efficient design and green features.
“This new offering will be a golden opportunity for savvy property enthusiasts with an affinity for the enchanting east coast,” comments Rob Garman, MCL Land CEO. “Anticipating robust demand, we’re confident that The Orie will yield another fruitful results of success.”
Singapore’s real estate market will be resilient over time inspite of the recent banking crisis. Singapore has overcome many crises, from Global Financial Crisis, Covid-19, several rounds of government instrumented property cooling measures. Property purchase or investment has proven to be able to hedge against inflation in the long run.
The Orie the hill @ one-north the myst The Continuum
