Will AMO Residence Become the Next JadeScape？
Developed by United Venture Development (2021) Pte. Ltd. (UOL Group/ Singapore Land Group/ Kheng Leong Group) and currently under construction, AMO Residence is located in District 20 and has a total of 372 units.
This Condominium/Apartment is accessible through the nearest train stations such as Mayflower MRT (TE6), Bright Hill MRT (TE7 CR13) Thomson-East Coast Line, and Teck Ghee (CR12). The nearest primary schools are Chij St. Nicholas Girls' School, Ang Mo Kio Primary School, and Ai Tong School.
This property is close to amenities like Sheng Siong Hypermarket(Ang Mo Kio 233), Giant(Jalan Kuras), and Giant - Main Branch(Ang Mo Kio Avenue 4). The closest shopping malls are Broadway Plaza, Thomson Plaza, and Jubilee Square.
Not one but two prestigious schools within 1km range
Recently, Finance Minister Lawrence Wong was promoted to Deputy Prime Minister and Acting Prime Minister of Singapore, paving the way to lead the 4G leaders of Singapore.
The inspirational story of Minister Wong who grew up from neighborhood schools all the way is supposed to tell everyone the truth that "every school is a good school", however, Kiasu's parents seems to believe the other way round, they position good schools in the vincityniy as one of the most important factors when choosing a house to stay.
And this is the greatest value of AMO Residence.
If we only talk about the location, Piccadilly Grand would be way better than AMO Residence, but the price of the land is almost the same. It is simply because there are two prestigious schools within 1km to AMO Residences, though it is slightly further from the central region, more investors would make it the first choice over the other.
CHIJ St. Nicolas Girls' School is the leader of the CHIJ series of girls' schools. It has a long history and rich cultural heritage. It partners with Eunoia Junior College with an Integrated Program that allows its Secondary students to go straight to JC without O-level exams.
Ai Tong is one of the five famous schools affiliated with the Hokkien Huay Kuan, and it is also one of the most popular primary schools in Singapore.
CHIJ St. Nicolas Girls' School and Ai Tong are among the top schools according to the popularity ranking of Singapore primary schools by several different mainstream websites, such as schoolbell.sg and salary.sg.
Such a great location with two top-notch schools in the vicinity is super rare in Singapore, what I can think of is no other than Raffles Girls School-Nanyang in Bukit Timah, Nanyang- Henry Park in the Holland area, and two blocks of JadeScape that fall within 1km to Catholic High-Ai Tong.
Ang Mo Kio's first new condominium project in 8 years, near to MRT and great amenities
We all know that Ang Mo Kio is the constituency of Prime Minister Lee Hsien Loong, but PM has not been bias to bring all development opportunities here. Generally speaking, Ang Mo Kio is a mature community with a good location. There are high ratio of HDBs and industrial parks, but fewer condominium projects developed, especially in recent years. In fact, AMO Residence is the first new condominium project in Ang Mo Kio in 8 years, and naturally, it has drawn good attention.
In such a mature estate with abundant HDBs, AMO Residence has great advantages: few competitors and convenient living amenities. There are three supermarkets, namely Sheng Siong, Giant and Ang Mo supermarket, within 500 meters of the surrounding area. There are also coffee shops nearby, making daily life absolutely convenient.
In addition, AMO Residence is only 5 minutes stroll away from the newly built Mayflower MRT Station. Along the Thomson-East Coast Line, you can easily go up north all the way to Johor, Malaysia, and go down south across the whole East Coast area.
Close to nature, surrounded by parks, extraordinary views
AMO Residence is adjacent to the Lower Pierce Reservoir Park in the west, Bishan Ang Mo Kio Park in the south, and the landed enclave in the north. The two high-rise towers will be north-south oriented, thus having great unblocked views.
Across the road from the project is the well-known Bishan-Ang Mo Kio Park, covering an area of 62 hectares. I remember it was the first flagship project I participated in when I first joined the Singapore government. At that time, we need to brief the project details to the MPs of the six surrounding constituencies, including PM Lee Hsien Loong. In 2012, PM personally opened the revamped park and announced that the park was renamed as Bishan-Ang Mo Kio Park from the former Bishan Park, and positioned it as one of the three destination parks of Singapore, together with the East Coast Park in the east and Jurong Lake Garden in the west. I didn’t verify but I heard that when this park was reopened, the surrounding property prices went up by 30%. Today, Bishan-Ang Mo Kio Park has become one of the most popular places for local families to relax and exercise on weekends.
If Bishan-Ang Mo Kio Park is more suitable for family leisure, the Lower Peirce Trail on the other side provides an excellent path for fitness enthusiasts to run and exercise.
Power Developers led by UOL Group
The developer of AMO Residence is also very powerful. The joint venture is led by UOL with strong support from Singapore Land Group and Kheng Leong Company.
UOL is one of the top-notch developers in Singapore, with more than 50 years of real estate development experience and assets of more than 20 billion Singapore dollars. In the past two years, UOL's portfolio includes the star project Avenue South Residence, other outstanding projects include the Clavon in the west, the Watergarden at Canberra in the north, and Meyer House in the east coast area.
Singapore Land Group is also a strong local developer, established in 1971, its development of V on Shenton made it famous is one of the high profile proejcts in District 1, rivaling Marina One Residences in the CBD area.
Kheng Leong Company is another good local developer established in 1949. In the early days, it mainly engaged in international commodities and spice trading, and later ventured into real estate development. AMO Residence is its another collaboration with UOL after Avenue South Residence and Meyer House project. It seems that both parties can clip well together.
Whilst Piccadilly Grand focuses on location and cost-effectiveness, Liv@MB positions strongly on the quality life of East Coast and layout design, AMO Residence’s killer feature is undoubtedly the dual-prestigious schools in the vicinity. And because it is situated in the heartland of a mature estate, it is very suitable for family investors buying for own stay. That is the reason why UOL has abandoned the 1 bedroom units which are more for pure investment and only provided 2-5 bedroom units for family investors to choose.
The question is, would such a project targeted for own stay appreciate as good as those investment-oriented projects? The answer is YES! Let’s look at JadeScape, a similar project in D20, launched in 2018, near to Marymount MRT and two good schools. In the recent subsale transaction record in April, the 1421 sqft 4-bedroom unit and the 2099 sqft 5-bedroom have both set records with the highest unit price and the highest total price respectively. Notably for the 5-bedroom unit transaction, in just three years, the unit generated $780,000 profit for the owner with an annualized rate of return of 6.3%! Taking into account the leverage effect of bank loans, this owner has concluded a great deal! By the way, these two transactions were both handled by myself. Lol.
So what do I want to say? In a hot market like now, AMO Residence, a high-quality product suitable for both self-occupation and investment, is bound to be sought after by investors. Will it replicate the JadeScape miracle? Well, I think it might achieve a better result than JadeScape on the launch day!
AMO Residence is expected to open on 2nd July 2022. Only the developer's directly appointed sales team would have access to the first-hand information and VVIP promotion packages. Hurry up to contact the appointed sales team at 96418798 to schedule a preview and find out more details.