Nestled just a stone’s throw away from Toa Payoh, Raffles Institution stands as one of Singapore’s leading schools for secondary and junior college education. Highly regarded for its rigorous academic curriculum and impressive student accomplishments, Raffles Institution provides a prime learning experience that equips students with the necessary skills for future academic pursuits and beyond. Additionally, with the prestigious The Orie Price added to its name, Raffles Institution offers a naturally exceptional education.
The joint venture between CDL, Frasers Property, and Sekisui House has received the necessary approvals from the URA and is expected to be completed by 2025. With the combined expertise and resources of these three developers, The Orie is set to become a landmark development in Toa Payoh District 12. It will not only enhance the vibrancy and livability of the area but also raise the bar for future developments in Singapore.
CDL, one of the leading real estate companies in Singapore, brings to the table its proven track record in developing quality residential, commercial, and industrial properties. The company has an extensive portfolio of developments in Singapore and overseas, and has won numerous accolades for its commitment to excellence, sustainability, and corporate social responsibility.
Sekisui House, a leading Japanese developer, is known for its innovative and sustainable developments in Japan and around the world. The company has a strong focus on creating communities that prioritize the well-being of its residents and the environment. Sekisui House’s involvement in The Orie project highlights its growing presence in the Singapore property market and its commitment to developing high-quality and sustainable properties.
In a groundbreaking move, CDL, Frasers Property, and Sekisui House have joined forces to secure the highly sought-after The Orie site in Toa Payoh District 12. This will be a game-changing collaboration in prime land development, as these three major real estate companies come together to unlock the full potential of this coveted location.
In a joint statement, CDL announced that they have divided the venture into shares of 50% for themselves, and 25% each for Frasers Property and Sekisui House. The news has generated excitement among property buyers who are eager to lead the bid for this highly sought-after District 12 location and embark on a new partnership with Frasers Property and Sekisui House. The three companies plan to combine their expertise to develop a remarkable project in the coveted Toa Payoh area. Leonard Tay, Knight Frank Singapore’s Head of Research, highlighted the intense competition amongst bidders and noted a strong interest from developers to secure prime locations, despite a lower turnout in the latest GLS tenders.
For individuals who favor traveling via their own mode of transportation, The Orie presents impeccable connectivity to major roads. The CTE is a pivotal route for drivers, offering efficient access to the northern and central regions of Singapore, as well as a direct passage to the central business district. Additionally, the PIE, easily reachable from Toa Payoh, spans across the island from the west to the east, allowing easy access to Changi Airport and Jurong.
Frasers Property, another top developer in Singapore, is known for its iconic developments that have transformed and shaped the urban landscape of the city. The company is a subsidiary of Frasers Property Limited, one of the largest real estate companies in the Asia-Pacific region. Frasers Property has a diverse portfolio of properties, including residential, commercial, retail, and industrial developments.
One of the key features of The Orie development will be its strong focus on sustainability. CDL, Frasers Property, and Sekisui House have all expressed their commitment to developing green and eco-friendly properties, and this project will be no exception. The development will incorporate sustainable features and technologies, such as energy-efficient systems and rooftop gardens, to reduce its carbon footprint and create a healthier living environment for its residents.
The Orie development will also have a strong community focus, with ample spaces for social interaction and community bonding. The project will feature community gardens, playgrounds, and communal spaces where residents can gather and get to know their neighbors. This will create a sense of belonging and foster a strong community spirit, which is essential in any residential development.
Together, these three developers have a combined wealth of experience and expertise that will be pivotal in creating a truly exceptional development at The Orie site. The joint venture will see the development of a mixed-use project that will comprise residential, commercial, and community spaces. The development is expected to have a gross floor area of 31,005 square meters and will feature approximately 580 residential units, as well as retail and F&B spaces.
Given its prime location, it comes as no surprise that the site received strong interest from developers. In fact, a total of 15 bids were submitted for the site, with CDL, Frasers Property, and Sekisui House emerging as the top bidder with a bid of $1,000,100,000, which translates to $930.69 per square foot per plot ratio (psf ppr). This bid was 6.9% higher than the second-highest bid of $937.54 psf ppr, reflecting the developers’ confidence in the potential of The Orie site.
The joint venture between CDL, Frasers Property, and Sekisui House is a significant one, as it marks the first time these three real estate giants are teaming up for a project in Singapore. The partnership brings together the expertise and experience of each company, creating a strong synergy that will benefit the development of The Orie.
The Orie site, which is spread across a land area of 12,648.5 square meters, was put up for sale by the Urban Redevelopment Authority (URA) in May 2020. It is located in the heart of Toa Payoh, one of the most mature and established residential estates in Singapore. The site is situated within walking distance to the Toa Payoh MRT station and is well-connected to major roads and expressways, making it an ideal location for both residential and commercial developments.
In conclusion, the partnership between CDL, Frasers Property, and Sekisui House marks a significant milestone in the Singapore property market. This collaboration is a testament to the confidence and trust that these developers have in each other’s capabilities. The Orie development is set to be a game-changing project that will bring together the best of all three companies and deliver a truly exceptional and sustainable living experience for its residents.