The Opus Condominium
The opus condo, a new residential property under development used to be home to the former Amber Park. The former Amber Park where it was constructed in 1986 were sold towards the end of 2017 for a hefty sum of more than nine hundred million Singapore dollars to City Developments Ltd. The spacious piece of land will now be home to a swanky new condo in the East Coast region of Singapore.
There is scarcity of such vast piece of land on the Amber Road region which makes this to be among the most desired sites of all. The Opus by CDL has a high chance of being the last development in the Amber Road area as all the other possible lands have already been sold and redeveloped.
Cost of the Opus site
The Opus development was awarded to CDL (City Developments Ltd) as they were the highest bidders among the eight bids that were submitted for the project. The price may appear to have been steep but when all other factors were put into consideration, it is a reasonable and sensible price point. The scarcity of such sized properties and the current prices of houses in the real estate market prove this.
The real estate firm will possibly earn back their investment sum by up to two times when the development is completed as the demand for residential property around this region is high all year round. The adjacent areas such as Katong on the East coast are also currently under development which will attract more investors and residents into the region.
Advantages of this residential area
The Opus district is recognized due its exotic dishes and strong culture. It is located adjacent to major shopping complexes like the Parkway Parade and Katong Shopping Centers. There are many learning facilities within close proximity such as Tanjong Katong Primary school, CHIJ and Tao Nan. This is very essential for residents who are raising school going children.
The road and rail networks are also well developed throughout the east coast district which makes it easy and convenient to commute using public means. The Changi Airport is also within a short drive distance away if you’re a frequent traveller for business.
The Opus condominium
The Opus condominium will be redeveloped into a tower with about twenty-five storeys consisting of eight hundred condo units and a parking space for the vehicles at the basement. Many of the residential units will have a supreme direct view of the sea. The condos on the South direction will also get to enjoy a view of the Katong Park MRT station which is a few minutes away by foot.