Amara unveils 10 Evelyn, looks beyond Singapore

/ EdgeProp
October 20, 2018 8:00 AM SGT
The weekend of Oct 13 and 14 marked the launch of boutique condominium 10 Evelyn by Amara Holdings. The project was showcased at 100AM, the mall connected with Amara Hotel, both of which are owned by Singapore-listed lifestyle and hospitality group Amara Holdings.
“This is probably one of the first project launches in Singapore with a sales gallery and show suite built inside a shopping mall,” says Albert Teo, CEO of Amara Holdings. “It’s a fantastic site for a sales gallery.” Most developers build their sales galleries and showflats of new projects for launch on state land leased from the Singapore Land Authority under Temporary Occupation Licence.
Teo: We are not just looking at Singapore. We have the regional markets to explore. (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located on Evelyn Road, off Newton Road, 10 Evelyn has a total of 56 units. Half of the units are made up of one-bedroom apartments of 496 to 614 sq ft; another 24 units are two-bedroom apartments of 732 to 829 sq ft; and four units are three-bedroom penthouses of 1,227 to 1,249 sq ft. Units are priced from $1.2 million, or $2,400 psf.
The project is situated within a 500m radius of both the Newton and Novena MRT stations. The 30,298 sq ft, freehold site is an amalgamation of two bungalow sites: one purchased in 2011 and the other in 2016.
The living area and balcony of a 527 sq ft, one-bedroom show unit of 10 Evelyn. The show suite is at 100AM Singapore. (Credit: Samuel Isaac Chua/ The Edge Singapore)
The design architect for 10 Evelyn is Mok Wei Wei of W Architects, famous for the design of upscale developments in the prime districts such as Lloyd Sixtyfive, The Nassim, The Oliv and Hilltops.
10 Evelyn comes with high specifications — from full De Dietrich kitchen appliances, including washer-dryer, to bathroom fittings from Grohe. “The project will appeal to singles who like downtown living, as it’s right in the heart of the action, close to F&B, entertainment and retail experiences on Orchard Road, with the CBD and Marina Bay area just a short drive or train ride away,” says Teo.
The façade of the 56-unit 10 Evelyn, designed by Mok Wei Wei of W Architects (Credit: Amara Holdings)
Prior to 10 Evelyn, the last launch in the Newton area was 26 Newton in 2012. Units sold so far average $2,456 psf, according to caveats lodged.
Amara has also relaunched the 33-unit M5, on Jalan Mutiara, off River Valley Road, following its completion this year. M5 contains predominantly one- and two-bedroom units with prices starting from $1.026 million and $1.669 million respectively.
The interior of a typical unit at 10 Evelyn, which is predominantly made up of one- and two-bedroom apartments (Credit: Amara Holdings)
Another Amara project in the pipeline is on Bedok Avenue. It is a redevelopment of a bungalow plot into two pairs of semi-detached houses, and construction is currently underway.
Asked whether Amara would be affected by the latest property cooling measures, Teo says, “We’re not pressured [to sell], and we are not just looking at Singapore. We have the regional markets to explore.”
The central courtyard and swimming pool (Credit: Amara Holdings)
Amara already has a stable of hotel properties that offers recurring income: the flagship, 384-room Amara Singapore, which was opened in 1986; the 140-room Amara Sanctuary Resort Sentosa, opened in 2007; the 250-room Amara Bangkok, opened in 2015; and the 343- room Amara Signature Shanghai, soft-opened in February. Similar to the Singapore flagship, the Shanghai property is a mixed-use development with an office block and retail centre branded 100AM Shanghai.
“We’re already in Thailand, so we could do more, and not necessarily just hotels,” says Teo, adding that he is exploring potential hotel sites in Japan. “We will focus on more regulated markets in Asia.”