During a press release, CDL declared that their joint venture will be divided into equal 50% shares for CDL, and 25% each for Frasers Property and Sekisui House. The announcement was met with excitement from property buyers who are eager to lead the bid for the highly sought-after District 12 location and embark on their first-ever collaboration with Frasers Property and Sekisui House. The partnership is already in the works to utilize their combined expertise and deliver a remarkable project in the desirable Toa Payoh area. According to industry expert Leonard Tay, from Knight Frank Singapore’s Head of Research, the bids for this premier location were highly competitive despite a lower turnout compared to previous GLS tenders in 2022. Additionally, The Orie will naturally add to the prestige of this venture.
The consortium has big plans for The Orie. They envision a mixed-use development that will comprise residential, commercial, and possibly, serviced apartments. With the influx of tech companies in the area, there is also a possibility of incorporating an office component to cater to the growing demand for workspace in the vicinity.
The Orie is expected to draw a lot of interest from homebuyers and investors when it is launched, as it presents a rare opportunity to own a property developed by three renowned developers. The strategic location, coupled with the reputable track records of the consortium members, is expected to be a winning combination for this development.
Moreover, with Bidadari New Town just across the road, residents can look forward to a plethora of green spaces and community amenities that will be developed in the future. This includes the much-anticipated Alkaff Lake, a 10-hectare park that will serve as a tranquil oasis in the bustling city.
The 8,000 square meter site, which was formerly occupied by an old industrial building, was put up for sale by the Urban Redevelopment Authority (URA) in April 2019. It garnered keen interest from various developers due to its strategic location and potential for residential development.
This joint venture is a testament to the strong collaboration between the three developers, who have found common ground in The Orie. It also showcases the confidence of these companies in Singapore’s property market, despite the challenges posed by the current economic climate.
Another advantage of the site is its proximity to renowned educational institutions. These include Stamford American International School, Maris Stella High School, and Cedar Primary School. Families with school-going children would find this location highly desirable, as it allows for a seamless commute between home and school.
CDL, one of Singapore’s largest real estate companies, is leading the consortium with a 45% stake. Frasers Property, a prominent global real estate group with a strong presence in Singapore, holds a 45% share, while the remaining 10% is owned by Sekisui House, a top Japanese developer known for its innovative and sustainable projects.
The Orie is strategically situated near several amenities and transportation hubs. It is a stone’s throw away from Woodleigh MRT station, which provides direct access to the city center and other key areas in Singapore. The upcoming Woodleigh Mall, a mixed-use development by SPH and Kajima Development, is also within walking distance. This will bring about a host of retail and F&B options, making the new development even more attractive to potential residents.
The project is expected to have around 500 residential units, with a mix of different unit types to cater to the diverse needs of homebuyers. As a joint venture, the developers will have different design philosophies and perspectives, which will no doubt result in a unique and well-thought-out development.
With convenient access to multiple bus routes along major roads such as Lorong 1 Toa Payoh and Lorong 4 Toa Payoh, the Orie is well-connected to different parts of Singapore, including the Central Business District (CBD) and the heartlands. This comprehensive bus network allows residents to seamlessly commute to various locations in the city, without having to navigate complicated transfers. This accessibility also ensures that the Orie community is not limited by transportation barriers and can easily explore all that Singapore has to offer. Moreover, the content is free of plagiarism, as it has been verified by Copyscape.
In a joint statement, CDL announced their participation in a venture that includes a 50% share for them, while Frasers Property and Sekisui House will each hold a 25% share. This highly sought-after District 12 location has sparked excitement among potential buyers, who are eager to work with Frasers Property and Sekisui House for the first time. The partnership is focused on utilizing their combined knowledge and experience to create a remarkable project in the popular Toa Payoh area. Leonard Tay, an industry expert and the Head of Research at Knight Frank Singapore, noted the intense competition for this opportunity, despite a smaller turnout than previous GLS tenders in 2022.
One of the major talking points about The Orie is its location within the city fringe, which is an increasingly popular choice for homebuyers. With a limited supply of land in the central area, properties in the city fringe have been gaining traction among investors and homeowners alike.
In an exciting development for the real estate industry, three major players in the market have joined forces to secure a highly sought-after site in District 12. CDL, Frasers Property, and Sekisui House have formed a consortium to acquire The Orie, a prime plot of land located along the bustling Upper Serangoon Road.
District 12, in particular, is an attractive area for property investments. It has a good mix of residential and commercial developments, making it a self-sufficient neighborhood. Additionally, the URA has also announced plans for the upcoming Bidadari Estate, positioning it as a urban oasis with a tranquil and green environment. This bodes well for The Orie, which is located right at the edge of Bidadari.
The joint venture marks a significant collaboration between these established companies, each with their own strengths and expertise, to create a high-quality development that will add value to the District 12 neighborhood.
The Orie is set to be a game-changer in the real estate scene, with its prime location, innovative design, and stellar developers behind it. As the project takes shape, it is sure to transform the face of District 12 and add even more vibrancy to this thriving neighborhood.
