The Opus condo at Amber Gardens by CDL is a new and upcoming condo that is set to be a prime development in the heart of the East Coast and Amber area.
Situated near East Coast Park, various shopping and entertainment amenities and the city, The Opus will offer you unparalleled convenience and quality of life.
Use the following quick navigation content page or contact us immediately to register your interest in The Opus condo at Amber Gardens.
- Condominium summary
- Condominium location
- Unit mix
- Floor plans
- Showflat location
- Site plan
- Condominium facilities
- Surrounding amenities i.e. Transport, education, healthcare, shopping/entertainment and outdoor/fitness amenities
- Government masterplan
- Macro-environment: Global and Singapore house prices; supply; vacancy
- Micro-market environment: Demand; supply; rents and yields; prices
- Potential capital gains and investment returns
- Interest rates
- Other purchase details
- Site background
- Developer background
- Contact us/register interest
- Other project information
|Project name||The Opus Condo at Amber Gardens|
|Developer||CDL and Hong Leong Group|
|Address||14/16 Amber Gardens S439960|
|The Opus showflat location||14/16 Amber Gardens S439960|
|The Opus showflat timing||To be announced|
|No of units||Approx 800|
|No of blocks||4|
|Unit mix||1 to 5 bedrooms|
|Site area||213,670 sqft|
|Gross floor area||598,300 sqft|
The Opus condo is located on the site of a project previously called Amber Park.
The Opus is bounded by Amber Gardens to the North and Amber Road to the South. On the East of The Opus are projects Vertis, Suites @ Amber and Chinese Swimming Club while King’s mansion is to the West.
The Opus is located in a very prime area of the East Coast and Mountbatten area given its proximity to East Coast Park and the revamped Big Splash area.
We expect the unit mix for The Opus to comprise of 1 to 5 bedroom units priced affordably for owner occupiers and investors. Information will be out shortly. Contact us to stay updated.
The Opus condo will have units that have a functional and efficient layout.
Owner occupiers and investors will find it easy and simple to arrange the unit to maximize the space for the purposes they desire.
Please contact us so that we can send you the floor plans when they are out.
Pricing for The Opus condo at Amber Gardens is not out yet but we expect units to be affordable yet priced to reflect the quality, desirability and convenience the location offers.
Please contact us so that we can send you the pricing details of units once they are out.
The showflat will be located at 14/16 Amber Gardens, the actual site of The Opus condo.
The Opus site will be in the form of an inverted L shape, with long frontages on the Eastern side facing other projects, long frontages on the Northern side facing Amber Gardens and stepped frontages on the Eastern and Southern facing areas.
All in all, the site is large enough to offer facilities that are befitting of a luxury, upmarket condominium that appeals to investors and owner occupiers who know how to appreciate the finer things in life.
Artist impressions, aerial views and drawings will be available for The Opus condo once released by the developer, CDL.
The Opus condo at Amber Gardens will have full condominium facilities given it’s mid size of approx 800 units.
Facilities will include lap pools, gym, reading rooms, fitness centres and parks, BBQ pits, children play areas, children’s pool etc.
Contact us to find out more if you would like to get a piece of The Opus at Amber.
The area is definitely growing in popularity with the rejuvenation, development and gentrification happening.
The following will give you an idea of the transport, education, healthcare, shopping/entertainment and fitness/outdoor amenities around The Opus by CDL.
To the East of The Opus condo is Amber Road which has a bus stop with many services going around the island.
The services are 31, 36, 43, 47, 48, 134, 135, 196, 196E, 197 and 401.
To the West of the Opus are bus services 36 and 48.
These buses will take you to effectively most parts of the island.
In addition, the Tanjong Katong station of the Thomson East Coast Line is situated about 200m West of The Opus Condo.
At only 3 stops to Gardens by the Bay, 4 stops to the upcoming CBD at Marina South, 5 stops to marina bay and 6 stops to Shenton Way, professionals working in the city and those looking for convenience will find that The Opus offers them unparalleled connectivity.
If you decide to drive, the East Coast Parkway Expressway (ECP) exit 11 is only a 3 min drive from The Opus. Turn out of The Opus, turn left (west), left again (south) and you will be on your way to the city or the Airport.
According to OneMap, there are the following primary schools within a 2km radius of The Opus.
- Tanjong Katong Primary School
- CHIJ (Katong) Primary
- Haig Girls’ School
- Kong Hwa School
- Tao Nan School
Other secondary schools, institutes of higher education/learning, private and international schools include (not necessarily within 2 km)
- Chung Cheng High School Main
- Tanjong Katong Girls School
- Tanjong Katong Secondary School
- CHIJ Katong Convent
- St Patrick’s School
- Broadrick Secondary School
- Dunman High School
- Victoria Junior College
- Dunman High School
Private and international schools:
- Canadian International School (Tanjong Katong Campus)
- Chatsworth International School East Campus
- Eton House International Pre-School
- APSN Center for Adults
- Marine Parade Library
Situated near the Marine Parade neighbourhood, there is no lack of clinics and dentists for those needing healthcare.
Marine Parade is only a 5-10min walk from The Opus.
Should there be a need for more advanced care such as a hospital, East Shore Hospital at Telok Kurau will be able to meet your needs.
Shopping, entertainment, food, drinks etc.
There is no lack of shopping and entertainment amenities around The Opus.
Some of the amenities include the following
- Parkway Parade
- I12 Katong
- Katong Shopping Centre
- Katong Square
- Roxy Square
- Katong V
- Leisure Park Kallang
- Joo Chiat enclave
- East Coast rd enclave
- Big Splash (across the ECP)
- Road safety park at ECP
- Parkland Green at East Coast
Food and watering holes
- Joo Chiat enclave
- East Coast rd enclave
- Katong Laksa
- Grand Mecure Singapore Roxy
- Holiday Inn Expres
- Hotel Indigo
- Village Hotel
- NTUC Fairprice at Marine Parade
- Giant, cold storage etc at Parkway Parade
Another notable district near The Opus is the Paya Lebar Quarter.
Shaping up to be a regional centre rivaling Tampines and Woodlands, Paya Lebar Quarter will offer commercial, retail and residential space in a well located neighbourhood that is near The Opus.
With a wide range of amenities around The Opus condo, it would be a shame if you let slip such an opportunity to own a notable piece of real estate.
One advantage of living at The Opus is the unparalleled convenience and accessibility to spots amenities.
Such sports and fitness amenities near The Opus include the Singapore Sports Hub and East Coast Park.
With these 2 prime sports amenities, there will be everything you need to get fit not flab.
Badminton courts, basketball courts, ice skating, jogging, water sports and swimming etc. are all available for you to use.
No more excuses to not exercising!
The largest rejuvenation project undertaken in the area in recent years is that of the East Coast Park, Big Splash and Marine Cove area.
Over the years, the general area has become tired due to an increasing number of visitors and lack of maintenance.
However, NParks enhanced the area from July 2017 to improve accessibility, enhance amenities while ensuring the character of the area is retained.
NParks statement on their plans for East Coast Park
As part of efforts by the National Parks Board (NParks) to enhance park users’ experience at East Coast Park, NParks announced today plans for improvement works for three sites – Raintree Cove, and the sites of former Big Splash and Goldkist Chalets.
These plans will be implemented progressively from 2017 to 2019 to create more open spaces, improve accessibility and enhance amenities while ensuring that the character of East Coast Park is retained.
This follows the successful redevelopment of Marine Cove last year. At the Marine Parade Family Life Champion event organised by People’s Association (PA), Guest-of-Honour Emeritus Senior Minister Mr Goh Chok Tong opened the exhibition on the improvement works of the park.
“We may be constrained by our land size, but not by our imagination. NParks has done well to transform our recreational landscape and parklands, to enhance Singaporeans’ mental and physical well-being. My challenge to NParks is to make East Coast Park a beloved national icon and transcendent experience”, said ESM Goh.
Open vistas and view corridors to strengthen coastal character of the park
As Singapore’s largest and most popular park with 7.5 million visits annually, East Coast Park is known for its distinct coastal identity that has endeared it to generations of users.
To complement its beach setting, more open spaces and view corridors will be created to provide visitors with a better view of the sea that will add to the sense of openness associated with East Coast Park.
Efforts will also be made to retain and re-purpose existing landmark buildings in line with the character of the park.
Raintree Cove will be enhanced to have a natural, cove theme with open lawns for sporting or leisure activities.
This nature-themed landscape filled with open spaces will be a key focus of this node and it will provide respite from the adjacent high-activity areas, such as Marine Cove.
Improving the diversity of recreational amenities and experiences
NParks has introduced a wider range of amenities, located strategically throughout East Coast Park to redistribute the crowds and reduce congestion in existing high traffic zones.
These activity and gathering nodes will offer a mix of family-friendly amenities and dining outlets across the park. The site of the former Goldkist Chalets will be redeveloped as a “Cyclist Park” along the 150km Round Island Route (RIR).
This node will serve to cater to the cyclists, with bicycle kiosks, circuits and trails for users of varying skill levels, complemented with cycle-through eateries.
The revamped Big Splash will be an active node with a vibrant water theme. Part of the former water theme park’s structures will be retained and converted into a vertical playground, complemented by water play features.
Open lawns will be created to allow a flexible use of park space for various events and activities.
Improvements to the park will be complemented by new, more user-friendly way-finding visual elements which will guide visitors to and within East Coast Park.
This aims to promote the use of public transport and encourage a car-less culture.
While sections of the park will be closed off during the two-year development, existing amenities will continue to operate, ensuring that park users’ experiences are not compromised.
Beyond the existing active areas, there are other quiet and tranquil areas within East Coast Park, where families and friends can relax and enjoy the coastal character of the park.
So what are you waiting for! The Opus offers you easy access to East Coast Park where you can spend the weekend with your family, loved ones, relatives and friends.
The following sections will provide a snapshot on the global and islandwide property market health.
Global house prices
According to The Economist, house prices in Singapore are relatively affordable compared to major economies in the region and around the World.
The following chart shows the price index for residential properties, and it can be seen clearly that Singapore’s price increase has lagged those of its regional and global peers.
For those who worry that Singapore house prices may be ‘high’, subjective as the term may be, this chart should give pause to those thinking they are entering at a higher level (compared to peer countries).
Singapore house prices
According to the URA, the property price index has shown 15 quarters of decline since mid 2013.
The index has fallen approximately 10% since then, but has staged a slight recovery since mid 2017.
Is this the beginning of a recovery and a turning point in the residential market? Most analysts seem to think so considering the amount of liquidity available to en-bloc windfall owners, continued low interest rates and low residential housing supply for the next 2-3 years.
In another chart, the URA shows that both non-landed and landed property prices are on a mend.
While it may be tempting to wait and see for a few more quarters whether the recovery in property prices is fundamentally strong and stable, it may be a little too late as by that time, sellers and developers would have raised prices far above the level of getting a good bargain at the trough of the market, which possibly could be the present moment.
What the above means for The Opus is that pricing could very well be attractive during the launch, with the developers holding back some units to sell when prices rise.
So if you want VVIP previews and discounts, do contact us quickly.
Based on URA’s quarterly data, there will be a dearth of supply in the years 2020, 2022 and beyond.
The following chart shows the year and number of private residential units and executive condominiums that will TOP.
The greatest number of units will TOP in 2018, declining in 2019, before troughing in 2020, then slightly climbing in 2021 (due to en-bloc redevelopments) then taper off.
Even though this is an islandwide figure, it will spell good news for investors and owner-occupiers of The Opus which prices will stand to benefit.
This is because with fewer supply of houses, rents will climb, leading to an increase in property value.
Further to the dearth of supply over the next few years, the vacancy in the outside central region is presently at one of its lowest level since the last 4 years.
With the low supply over the next few years, it could be likely that vacancy will maintain at this low level or fall further.
The following sections will provide a snapshot of the micro-market health where The Opus condo is situated.
For investors seeking to get a sense of demand for The Opus, have no fear.
The East Coast area is a popular district among expatriates because of their desire to live somewhere close to the sea.
Take a walk around the East Coast, Marine Parade and Parkway area and you will see may expats and westerners having drinks, shopping or eating.
This scene is present both on weekdays and weekends.
Another reason the area is popular with expatriates is its proximity to the city centre.
A short 20 min bus ride or 15 min drive can bring someone to Raffles Place.
With the completion of the Thomson East Coast line, there will be one more option for renters to access the city.
For those who worry that there will be upcoming condos in the area around that may impact rentals in The Opus, there is no need to worry because according to Squarefoot, there aren’t any large scale developments completing in the vicinity.
The nearest is Carpmael 38 but that is a small sized apartment with fewer than 20 units.
Sandy Eight near Guillemard is also nearby but it is also a small sized apartment with fewer than 15 units.
As such, the rental resilience of The Opus will remain strong given that it is one of the newest and largest condominium development in the area.
Rents and yields
Around the area where The Opus is located, rental yields of the projects are approximately 2% to 3% based on transactions that occurred in the last 12 months, according to Squarefoot.
The following table shows details of the project names and rental yields for the corresponding projects.
|Project||Rental yield (%)|
|16 @ Amber||2.8|
|Suites @ Amber||2.7|
|11 Amber Road||2.3|
|The Sea View||2.5|
It is likely that The Opus will be able to command rental yields of around this level, with an average of 2.5%
The newest comparable to The Opus is Amber Skye which is West of the project and completed in 2017.
Some of the asking rents per month for the project according to Squarefoot are as follows
- 1 bedroom 527 sqft: S$3,500
- 1 bedroom 635 sqft: S$3,350
- 2 bedroom 1,119 sqft: S$4,500 to S$4,800
- 3 bedroom 1,335 sqft: S$5,300 to S$5,900
In terms of resale prices for projects around The Opus, the range is around S$1,150 to S$1,900 according to Squarefoot.
The following table shows the projects and their corresponding average prices based on transactions in the last 12 months.
|Project||Average price S$psf|
|16 @ Amber||1,665|
|Suites @ Amber||1,409|
|11 Amber Road||1,394|
|The Sea View||1,659|
Taking a leaf out of projects that have been completed for more than 10 years, the trend shows that prices have generally been on an uptrend.
For example, in King’s mansion prices were approximately S$600 psf in 1996 and as of 2018, they are approximately S$1,383.
For Seaview Point, it was approximately S$760 in 1996 when it first started selling, and as of 2018, the prices are approximately S$1,500 psf.
For The Opus therefore, if historical price trends are anything to go by, investors and buyers can expect the same kind of long term trend to persist.
Potential capital gains and investment returns
Assumed LTV, purchase price, int rate, loan tenure, rental, property tax, entry cap rate, exit cap rate
The 1 and 3 month SIBOR rates have trended between 0.6% and 1.3% over the last 12 months and looks set to remain at this low range over the next few years if the fed chooses not to raise their interest rates.
Do check out the quick reference page we have on SIBOR and SOR rate
Other purchase details
The usual restrictions on purchasers such as LTV limits and ABSD exist.
Please speak to us to find out more and we will advise accordingly.
The following excerpt from Channel News Asia on Amber Park, the project which occupied the land that The Opus now sits on.
Amber Park, a 200-unit freehold condominium in Katong, has been snapped up for S$906.7 million in Singapore’s largest freehold collective sale by dollar value, marketing agent JLL said on Wednesday (Oct 4).
The condominium, which was built in 1986, was bought by City Developments Ltd (CDL), through its wholly owned subsidiary Cityzens Development, and joint-venture partner Hong Realty.
This is the fourth time that Amber Park has been put up for sale.
The sale comes as the local en bloc market continues to heat up, with the tender for Amber Park receiving as many as eight bids.
The sale price reflects a land rate of about S$1,515 per sq ft per plot ratio, based on the allowable gross plot ratio of 2.8, JLL said.
At this sale price, the owners would expect to receive gross sale proceeds of between S$4.3 million and S$8.3 million, it added.
Subject to approval, CDL and Hong Realty plan to redevelop Amber Park into a luxury condominium development comprising four 25-storey blocks with close to 800 units and a basement carpark, CDL said in a separate statement.
The current site has an area of 213,675 sq ft, and an allowable gross floor area of about 598,290 sq ft. CDL said the development will maintain its freehold status.
Ms Christine Li, director of research at Cushman & Wakefield Singapore, said the latest sale will have implications on future en bloc deals.
“Looking at the price, it is relatively bullish which means choice sites are still highly contested by both the local and foreign developers.
It probably means it is the new benchmark prices set for Katong area.
That will actually help some of the existing projects – particularly the older projects – which are interested to go for en bloc to look at the new price point.”
“From next year onwards we are going to see developers launching new projects at a higher prices, probably 10 to 15 per cent higher than what we have been seeing in the market today.”
Mr Desmond Sim, head of research at CBRE Singapore and Southeast Asia, agreed with Ms Li – he said the sale price reflects the huge appetite and optimism among developers.
“En bloc seems to be the rage now. The price points out that there are still developers out there that are still hungry for land and what’s happening at the Government Land sales at the moment does not suffice to appease their hunger.
Developers are also looking forward instead of backward pricing, that’s why we see such competitive bids coming through.”
ESTABLISHED PRIVATE RESIDENTIAL ENCLAVE
Mr Tan Hong Boon, regional director at JLL, said: “There are not many sites of similar size that are available for redevelopment in the Amber Road location … Amber Park could possibly be one of the last collective sale sites with a land area above 200,000 sq ft in this precinct.”
The Amber Road area is an established private residential enclave that enjoys a strong following from both locals and expatriates alike, due to its proximity to the central business district, East Coast Park and the airport.
The site is also within 1km to Tanjong Katong Primary School and 2km to CHIJ (Katong) Primary, Haig Girls’ School, Kong Hwa School and Tao Nan School, which are popular primary schools.
Connectivity will be further enhanced when Tanjong Katong MRT station, located 200m from the site, is completed in 2023.
Mr Sherman Kwek, CDL CEO-designate, said: “This is one of our most significant investment deals in the Singapore residential market in recent years.
CDL was the original developer for Amber Park in the 1980s and we are honoured to be able to redevelop the site into yet another iconic landmark.”
City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries.
As one of Singapore’s largest companies by market capitalisation, its income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally.
CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities.
Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest landbanks amongst Singapore private-sector developers.
Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia.
Contact us/register interest
You know you want to get rich investing in property, you want to live in a prime location in the East and want to enjoy the finer things in life.
Contact us to find out more.
Those who register for VVIP previews by the developer stand to receive discounts!
Other project information
More information to be released as they come. In the meantime, let us know your interest in the project and we will keep you updated.