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February 07, 2024

Luxury Urban Living at Upcoming Orchard Boulevard Project

Jean Choo

Senior Research Analyst

A new project in District 10 is about to enter the scene, adding on to Singapore’s glittery skyline. Situated in Orchard Boulevard, the upcoming project is within walking distance to the bustling Orchard shopping belt and is next to the Orchard Boulevard MRT station.

 The 99-year leasehold plot is projected to yield an estimated 280 residential units along with commercial space (est. 500 sq m) on the first storey. It is the first GLS residential plot to be launched for sale in the area since a Cuscaden Road GLS site was sold in May 2018, and the Irwell Bank Road GLS site - which is slightly further away - that was awarded in January 2020.

The site attracted four bids in a tender that closed on 1 February 2024. The top bid of $428.3 million was tabled by a joint venture between UOL Group and Singapore Land. The top bid translates to a land rate of $1,617 psf per plot ratio (psf ppr).

Orchard Road: an area of excitement and change

The Orchard Boulevard plot is the first site to be offered in District 10 since the tender launch of Cuscaden Road in 2018, which attracted nine bids and was awarded in May 2018 for $409.99 million (land rate of $2,377 psf per plot ratio). The development has since been completed, as the 192-unit Cuscaden Reserve. The upcoming development at Orchard Boulevard will appeal to those who want the benefits and convenience of its strategic location in the heart of the city, combined with the tranquillity of living in an exclusive private residential enclave.

There are ongoing rejuvenation efforts, driven by new developments and concepts from both the public and private sectors, which aim to strengthen Orchard Road’s position as a must-visit lifestyle destination. The Urban Redevelopment Authority (URA), as part of a wider goal to rejuvenate the city centre, has introduced incentives for private building owners, including those in Orchard Road to redevelop older commercial buildings into newer mixed-use developments that offer live, work, and play opportunities.

One key initiative in the URA 2019 masterplan is "Bring Back the Orchard" which aims to enhance the Orchard Road shopping belt. Some features include increasing the walkability of the Orchard Road walkways, transforming it into an urban green corridor, as well as expanding on existing green spaces, such as Dhoby Ghaut green, to create communal, family-friendly gardens.

Lifestyle of prestige and convenience

Residents living in this district will enjoy the benefit of not only living in luxury homes, but also a neighbourhood that exudes exclusivity and prestige. This district is home to a number of international embassies and high-net-worth individuals who live in luxury apartments and landed homes within the Good Class Bungalow enclaves at Chatsworth, Nassim, and Bishopsgate.

Perhaps the biggest appeal is the project’s proximity to the Orchard Road shopping belt. The shopping district is a world-renowned retail and entertainment boulevard in Singapore's District 9, known for its vibrant mix of luxury brands, and high street fashion. It is a prime destination for both tourists and locals, offering a comprehensive shopping and dining experience with malls like ION Orchard, Ngee Ann City, Paragon, amongst others. Besides, retail and dining amenities, Orchard Road also offers entertainment amenities like cinemas, bars and nightclubs, adding to the vibrancy of the district.

Families with school-going children or are planning to have kids in the future would be glad to know that there are several local and international schools nearby, including Chatsworth International School, Anglo-Chinese School (Junior), Ascott Centre For Excellence, St. Joseph's Institution, and Singapore Chinese Girls' School.

Unparalleled Connectivity

The development is situated adjacent to the Orchard Boulevard MRT station on the Thomson-East Coast Line (TEL). When fully completed the TEL will enhance connectivity from the East to northern part of Singapore, passing various key spots in the city, including Marina Bay, Shenton Way, Maxwell, Outram Park, and Orchard Road. Stage 3 and Stage 4 of the TEL’s development are expected to be completed in 2024 and 2025, which will take commuters to stations in the East, such as Tanjong Katong, Marine Parade, Siglap, and Sungei Bedok.

Additionally, there are numerous bus services that run along Orchard Road, providing another public transportation option for commuters. For those who prefer to drive, the area is well served by main roads along Orchard Road, Paterson Road, Grange Road, which takes commuters to the Central Business District (CBD) within 5 to 10 minutes.

About the developer

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 and Pinetree Hill.

Singapore Land Group, formerly United Industrial Corporation Limited, is a partly-owned subsidiary of the 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.

 

 

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