The new Amber Park is about to rise on the site of the original Amber Parkthat was sold to City Developments Limited (CDL) in an enbloc or collective sale deal last year in October 2017. In an interesting twist, CDL was also the developer for the original Amber Park way back in1986.
The bidding was intense as this is a plum site. Hence the winning bid price was SGD$906.7 million, one of the most pricey freeholdcollective deals ever. There are a few reasons for this.
For one, this AmberPark condo site is situated in District 15, the residential estate that is ranked just after the prime central districts around Orchard Road. This part of Singapore has a huge fan base, including many long time residents, who love it for its convenience to the city centre and the airport, as well as its character and ambience.
Another factor in favour of the site is that it will get wide seaviews southwards, and pretty good views northwards over low-rise landed estates as well. Residents should be able to enjoy refreshing sea breezes as well as views of East Coast Park and beyond, to the horizon.
The future Tanjong Katong MRT station will be about 5 minutes walk away. It is scheduled to be up and running by 2023, around the same completion timing as for this project.
The Amber Park condo site is big. Almost 200,000 sq ft. Such large new freehold sites are a rarity, with most new freehold projects housing no more than 100 units, or even less than 50. This one will have enough land to accommodate enough facilities to rival even those sites from Government Land Sales, where the biggest projects are usually to be found.
In terms of amenities, the nearest main shopping centre is Parkway Parade. It's about 10 minutes walk from Amber Park, but it does have almost everything that is needed. From banks to shops, supermarkets, food court, cafes and restaurants and fast food outlets, and even a department store.