Located in the well-established neighborhood of Toa Payoh, Singapore, The Orie Condo offers more than just luxurious living spaces and excellent connectivity. Its prime location also offers easy access to a variety of highly-regarded educational institutions, making it the perfect residential option for families prioritizing academic excellence for their children. Whether it’s primary schools or tertiary institutions, the vicinity of The Orie Condo boasts a plethora of educational opportunities for students of all ages.
One of the main reasons for the high bidding price is the scarcity of land parcels in Toa Payoh. This mature estate is known for its limited supply of available land, making any new development a rare and valuable opportunity. The success of Gem Residences, which has sold more than 90% of its units since its launch in 2016, is also a strong indicator of the demand for new residential projects in this area. The Orie Condo Consortium has capitalized on this demand and taken a bold step towards securing a prime location in Toa Payoh for their upcoming project.
In conclusion, the Orie Condo Consortium’s record-breaking bid of $1,360 psf ppr in Toa Payoh’s first tender since Gem Residences has caused a stir in the real estate market. Their confidence and vision for this development have set a new benchmark for land prices in Toa Payoh and sparked much excitement and anticipation among potential homebuyers. With the group’s track record of successful projects, it will be interesting to see what they have in store for this prime location and how they will shape the landscape of Toa Payoh in the years to come.
The tender for this land parcel, located at Toa Payoh Lorong 6, saw a total of 15 bids, with the Orie Condo Consortium emerging as the top bidder. This is a testament to their confidence in the potential of this prime location in the mature estate of Toa Payoh. The site has a land area of 12,154 square meters and a maximum gross floor area of 33,358 square meters, making it one of the largest residential sites in Toa Payoh in recent years. It is also conveniently located within walking distance to Toa Payoh MRT station and the bustling Toa Payoh Central, making it an attractive location for potential homebuyers.
Located within close proximity to The Orie, Whampoa Makan Place & Market is a must-visit for those wanting to sample traditional Singaporean hawker cuisine. This bustling market is popular for its authentic breakfast stalls, which serve up mouthwatering Nasi Lemak and freshly made Kueh. As the sun sets, the market transforms into a lively dinner destination, offering an array of delectable dishes including Satay and Hokkien Mee. With its lively atmosphere and scrumptious food, this market is a must-try for anyone seeking an authentic taste of Singapore.
Moreover, it is conveniently located near The Orie, making it a convenient and accessible option for those staying in the area. Rest assured, a visit here will provide an unforgettable culinary experience that is sure to satisfy your taste buds. The consortium’s successful proposal of $1,360 per square foot buildable surpassed the second-highest bid by 18%, which was $819.99 million ($1,153 per square foot buildable) from Tanglin Land, a subsidiary of CapitaLand. This achievement is noteworthy as it is the first tender in Toa Payoh since the development of Gem Residences eight years ago.
With such a high bidding price, it is evident that the Orie Condo Consortium has big plans for this development. According to their spokesperson, they envision creating a “one-of-a-kind” condominium that will cater to the needs and preferences of young families and professionals living in Toa Payoh. The development will feature a mix of unit types, from one to five bedrooms, to cater to a diverse group of potential buyers. They also plan to incorporate smart home technology and environmentally-friendly features into the project.
The bustling atmosphere and delicious food make it a must-visit for anyone looking to experience authentic Singaporean flavors.
The bid of $1,360 psf ppr is significantly higher than the second-highest bid of $1,153 psf ppr, showing the confidence and belief the consortium has in the potential of this site. This bold move has also set a new benchmark for land prices in Toa Payoh, which has traditionally been known for its affordability. The bidding price is also higher than the previous record for a 99-year leasehold site in Toa Payoh, which was set by Gem Residences at $993 psf ppr.
The consortium comprises of three prominent players in the real estate industry – Orie Group, listed developer Ee Hoe Construction, and construction firm JBD Development. Orie Group, headed by businessmen and brothers, Eddie and Patrick Orie, has been making its mark in the property development sector over the years with their portfolio of successful residential and commercial projects. Ee Hoe Construction, on the other hand, has an established track record of delivering quality builds for both public and private sectors. Joining forces with these two companies is JBD Development, a relatively new but rapidly growing firm helmed by young but experienced entrepreneurs in the industry.
The Orie Condo Consortium has made headlines in the real estate world with their record-breaking bid of $1,360 per square foot per plot ratio (ppr) for a land parcel in Toa Payoh. This bid has outshone their competitors by a significant 18% and marks the first tender since the successful launch of Gem Residences in the same area. This bold move by the consortium has sparked much interest and speculation in the market, with many wondering who are the players behind this historic bid and what are their plans for the development.