Little History About Amber Road
The road on which the mentioned site is situated on happens to have a bit of involvement with the history of Singapore. The road was established in 1921, having the Elias family’s clan name as a namesake.
Amber road was a long L-shaped road that used to be between Grove road and Tanjong Katong road, but after years of further urbanization and developmental progress, the current geography of Amber road makes it that it connects the junction of Haig road and Mountbatten road to Tanjong Katong road.
Amber road has been part of two known historical events in Singapore’s past: one during the Japanese occupation and another during the Maria Hertogh riots. During the Japanese occupation, the operation that aimed to seek out anti-Japanese radicals called Operation Sook Ching was based on the beach just across the road.
In the 1950s, Amber road was also one of the areas to be heavily damaged during the Maria Hertogh riots. Being linked to the country’s history and being occupied by the previous businesses for over 30 years, the area will continue on its path for development under the ownership of UOL.
If history can be a lesson, it’s that Amber road has been through challenges and successes but ultimately, it will be there to last for many more decades to come.
Developer of Amber 45 Condo – UOL Group Limited
Although having only been established under the name UOL in 2002, the company has been renamed multiple times and has roots to being initially established since 1963 as Faber Union Ltd, a subsidiary of Faber Union (HK) Ltd.
Having also expanded to Malaysia and China, the company has had some notable property development over the years of operation. UOL’s residential portfolio in Singapore includes Botanique at Barley, Riverbank at Fernvale, Seventy Saint Patrick’s, Thomson Three, Katong Regency, Waterbank at Dakota and many more.
The company is also specializes in hospitality, having hotels not only in Singapore but also to places such as Australia. Although, the company primarily deals in hospitality and residential investments. UOL has also invested in developing properties, having opened multiple shopping malls with the largest being the Paya Lebar Central.
The company has seen recent economic growth and prior to 45 Amber, the most recent project it was involved in was the development of 70 St. Patrick’s launched in 2014 with 186 apartments averaging at $1600 to $1700 per sq. ft.
UOL Group Limited is also heavily established in the industry and shows no sign of slowing down, which makes it a safe and reputable company to deal with.
Similar Developments to Amber 45 Condo
To have an idea of the probable future of the development of 45 Amber UOL, the closest analogue would be to observe the statistics of The Shore Residences, a condo within the same district but on 81 Amber road. The condo is a 20-story building with 408 units listed variably depending on how many bedrooms are offered or depending on the type of transaction.
Sales can range from $850,000 to $1M for single bedroom units while 4-bedroom units can go for up to $4.8M. Available prices for rent can range from $2500-$3200 for single bedroom units while three-bedroom units can be around $5000.
Transaction prices have remained linear for a year with the average transaction price at 6 months ago being the same as the transaction price a year ago which is at $4.4 per sq. ft. The Shore Residences have had conservative price trends over the 3 years since its initial public release in 2014. However, these numbers will only keep increasing, matching Singapore’s economic future along with other residential areas such as the 45 Amber project.
Being businesses in the same industries and having investments in such proximity to one another such as The Shore Residences and the 45 Amber project, the two development projects would probably acquire along similar numbers.
Nearby Establishments to Amber 45 Condominium by UOL
Nothing is more important than nearby establishments for residential projects because that is a feature that can make or break a deal. Fortunately for 45 Amber UOL, the nearby establishments will soon be receiving flocks of offers from interested buyers. This is evident from the fact the lot is already in between two successful residential establishments: The Shore Residences and Sea View.
Nearby establishments help to attract potential clients because of convenience of either having businesses nearby or having their work nearby. This is especially fortunate for 45 Amber because it is geographically situated in a vicinity of economy with shopping centers and schools close by.
Firstly, 45 Amber is located near academic institutions like the Chatsworth International School, a school that caters students from grade 12 and provides a holistic and balanced education to the future pillars of society. Other than the Chatsworth International School, Amber 45 is also close by Tanjong Katong Primary School and Tanjong Katong Girl’s School.
Having schools near a residential project is always good for business because businesses concentrate around areas of high traffic and school districts generate one of the heaviest traffics in the city. Being in proximity of not one but multiple elite schools in the area, this will only bring in more potential clients since schools bring in hordes of families and school workers.
Residential apartments are not the only businesses to pop up near school districts but a whole multitude of them. 45 Amber is also near Parkway Parade, Katong Shopping Centre and 112 Katong – all popular shopping centers in the area.
As mentioned before, economic traffic is always good for residential businesses because as long as the area provides thousands of jobs, many people will be looking for a place to stay in near their workplace as to cut the cost and time it takes to travel. Having three popular shopping centers in the vicinity, UOL’s development will be a profitable investment for the company and for those quick enough to invest in it.
Investment in properties take longer than most investments but they are by far safer than most. As long as economic transactions happen in the area, more people will arrive and residential developments will flourish. It should also be noted that having shopping centers nearby can entice buyers to get into the nearby residential areas as well for the convenience of the proximity.
Being close to shopping centers means that one does not need to travel far to purchase the necessities of life. This is a major factor buyers consider before getting an apartment unit.
Another nearby establishment worth considering for 45 Amber is the upcoming development of the Tanjong Katong MRT Station that is due in 2023. Being close to an MRT station is highly advantageous because this means that residences can now cater to people who work far away via the MRT.
Basing on statistics, having an MRT station close by will be very profitable for 45 Amber and all other residential businesses close to it because MRT stations significantly increase the foot traffic of the area, thereby boosting the area’s economy.
Government Master Plan Potentially Benefits Amber 45 Condo
If all other reasons have not succeeded in convincing you that investing in 45 Amber UOL is the right decision, then read up on how the development of 45 Amber benefits the government itself since the development coincides with the government’s master plan.
The development of 45 Amber UOL hits multiple checkboxes on the government’s master plan pertaining growth strategies. This segment of the master plan has six (6) steps in order to achieve growth. This includes
- Sustaining a dynamic economy
- Injecting mixed uses
- Connecting people and places
- Providing more housing
- Creating a sustainable and livable city
Developing 45 Amber into UOL’s newest residential project will have achieved multiple steps towards the government’s plans for growth. The project will be in part sustaining a dynamic economy and injecting mixed uses by adding a residential area into a district heavy with shopping centers and academic institutions.
An area is more economically successful if there is a heterogenous mixture of industries in it. The project will surely provide more housing to the people of Singapore, a country known for outstanding economic growth. Especially when the Tanjong Katong MRT is finally completed, there will be an increase in connectivity between people and the area. Finally, adding another residential apartment in a highly economic area will further Singapore into a more sustainable and livable city at the same time.
Government plans provide guidelines and strategies towards a better future for the state. Historically, Singapore has achieved its greatness through its government; a lowly harbor state that capitalized on its strengths has now become one of the strongest economies of the world. This is further reason to invest in property that follows the government’s master plan because if history were to repeat itself, economic success will soon follow.
Contact Us For More Information About Amber 45 Condo by UOL
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