By PropNex Research and Editorial
Changes are afoot in the Ang Mo Kio town, with more housing and amenities set to be introduced in the popular Singapore heartland. An exciting new private residential project lies in Ang Mo Kio Avenue 1, within walking distance from the upcoming Mayflower MRT station on the Thomson-East Coast Line.
The site was hotly contested among developers in the public land tender, attracting 15 bids and a top bid of $381.38 million or about $1,118 per square foot per plot ratio (psf ppr). United Venture Development - a joint venture (JV) between UOL Group, Singapore Land Group, and Kheng Leong – had placed the highest bid and was awarded the 99-year leasehold site in June 2021.
It is the latest government land sales site to be offered in that area, since the Lorong Puntong site was awarded in October 2014, and the Ang Mo Kio Avenue 2/ Ang Mo Kio Street 13 site in January 2013.
As there have not been many fresh private residential launches in the area in recent years, the Ang Mo Kio Avenue 1 development (Amo Residence) should stir interest among buyers, including HDB households living in Ang Mo Kio and Bishan who are looking to upgrade to a private home. According to the HDB, Ang Mo Kio has an estimated HDB resident population of 143,800 while Bishan has 63,200 HDB residents.
Over the next few years, new housing will be injected to the precinct, including in Lentor Hills and Kebun Baru, adding more buzz to the locale. Amo Residence, the upcoming Ang Mo Kio Avenue 1 project is expected to add more than 370 new private homes, attracting new households to the area.
The JV had indicated that the new Ang Mo Kio Avenue 1 development will capitalise on the unblocked views towards Bishan-Ang Mo Kio Park and Lower Pierce Reservoir Park.
In the past year, the pandemic had led many people to socialise less and spend more time at home. In some way, the views from their home have served as a means for people to connect with nature and the environment – perhaps taking in the view of a park, water bodies, or blue skies. With hybrid working gaining wider adoption, living in a home with views of nature and greenery will provide visual breaks and help to enhance wellness.
The project’s proximity to Bishan-Ang Mo Kio Park and Lower Pierce Reservoir Park will offer plenty of recreation options that will certainly appeal to nature buffs and fitness enthusiasts. Of note, the Bishan-Ang Mo Kio Park - one of the largest urban parks in central Singapore – is filled with lush lawns and has a 3-km meandering river. Meanwhile, the Lower Pierce Reservoir Park presents charming views of the secondary forests, hiking trails and the tranquil boardwalk where visitors can seek respite from the hustle and bustle of urban living. With these offerings at their doorstep, future residents will not have to venture far to enjoy nature’s healing touch.
Being located in an established residential area, there is also a range of shops, supermarkets, and food options in the neighbourhood, including the Kebun Baru Market and Food Centre. The development will also be minutes’ drive from the AMK Hub retail mall as well as the Ang Mo Kio MRT station and bus interchange. In particular, the 48,250-sq m AMK Hub offers a diverse tenant mix of more than 200 shops, including a Cineplex and NTUC Fairprice Xtra, one of Singapore’s biggest hypermarkets.
Families with young children will also find numerous schools within easy reach of the Ang Mo Kio Avenue 1 development. These will include Ai Tong School, Ang Mo Kio Primary School, CHIJ St. Nicholas Girls’ School, and Mayflower Primary School nearby, as well Raffles Institution and Catholic High School in Bishan, and Raffles Girls’ School (Secondary) in Braddell.
Amo Residence future residents will also benefit from the upcoming improvement to the public transport infrastructure, with the introduction of the Thomson-East Coast Line (TEL) and the Cross Island Line (CR).
The Ang Mo Kio Avenue 1 site is situated about 500m from the Mayflower MRT station on the TEL, which will boost connectivity to the eastern part of Singapore and cut commuting time to the city. The TEL will provide direct access to places such as Orchard Road, Great World City, Shenton Way, Gardens By The Bay, the future Founders’ Memorial, Tanjong Katong, and Siglap. Meanwhile, the CR – with two stops in Ang Mo Kio (Teck Ghee and Ang Mo Kio central) – will offer more convenient, alternative routes to various destinations as the line links up to the existing and new rail networks.
According to the Land Transport Authority, the CR will be Singapore’s longest fully underground line at over 50 km long. The new MRT line will connect major hubs such as Jurong Lake District, Punggol Digital District and the Changi region.
UOL Group is a leading public-listed firm with a diversified portfolio of development and investment properties, hotels and serviced suites in Asia, Oceania, Europe, and North America. Some of its residential projects in Singapore include Principal Garden, The Clement Canopy, The Tre Ver, Meyer House, Clavon, and Avenue South Residence.
Singapore Land Group, formerly United Industrial Corporation Limited, is a partly owned subsidiary of UOL Group. Singapore Land too, has a diversified portfolio comprising commercial investment properties, residential developments, hotels and IT services. Its residential development properties include Clavon, Avenue South Residence, The Tre Ver, V on Shenton, and Mon Jervois.
Kheng Leong Company was incorporated in 1949 and has evolved to become an investment group with interests in property development and real estate investment. Among its residential projects are Meyer House, 15 Holland Hill, Principal Garden, 18 Nassim Hill, Nassim Park Residences, and The Minton.