SINGAPORE: A new wave of excitement is sweeping through the Singapore housing market as Kwek Leng Beng, one of the nation’s wealthiest billionaires, prepares to launch a luxurious condominium project in the coming weeks. His company, City Developments Limited (CDL), will unveil sales for The Orie, a high-end residential development featuring 777 exquisite units, starting January 18.

Recent statistics from the Urban Redevelopment Authority have revealed a promising 2.3% rise in private residential property prices for the fourth quarter of 2024, signaling a return of confidence in the Singapore real estate sector. This trending recovery has fueled anticipation for The Orie, which is strategically located in the desirable Toa Payoh estate—one of Singapore's premier residential locales.

Unit prices for The Orie are set to start at a staggering S$1.28 million for the compact one-bedroom apartments, measuring approximately 48 square meters, while the palatial five-bedroom units may reach up to S$3.48 million. This pricing strategy underscores the appeal of prime real estate in a city-state known for its rapidly appreciating property values.

Sherman Kwek, the CEO of CDL and the management team, emphasizes that buyers will gain significant advantages from the project's central location and superb connectivity, affording residents easy access to the energetic heart of Singapore.

The Orie represents a collaborative venture involving CDL, Frasers Property—linked to Thai billionaire Charoen Sirivadhanabhakdi—and Japan’s Sekisui House. It's noteworthy that this is the first private residential project in Toa Payoh since 2016, which amplifies its significance in the market.

In the broader context, City Developments has established a formidable footprint beyond Singapore, owning rental properties in key global markets including the UK, Japan, Australia, and the US, further showcasing its prowess as a major player in the international real estate landscape.

Kwek Leng Beng, the executive chairman of City Developments, boasts a staggering net worth of approximately US$11.5 billion (S$15.76 billion) as of September 2024, positioning him as one of Singapore’s top tycoons according to Forbes' latest list.

In summary, with the housing market on an upward trajectory, premium projects like The Orie could redefine luxury living in Singapore. Investors and potential buyers are already eager to participate in this promising endeavor that hints at a revitalized property landscape tailored for modern lifestyles. Will you be among the first to claim a piece of this luxurious new development?