[New Project] The Orie launches this week, expected to spur Toa Payoh private home market

On 3 January 2025, The Orie, the first new private residential launch in Toa Payoh in nearly nine years, officially opened for preview, drawing keen market attention. Amid sustained momentum in the new private home sales market, the launch of The Orie is expected to further drive up resale prices of non-landed private properties in Toa Payoh.

Highly anticipated by the market, The Orie, located along Lorong 1 Toa Payoh, commenced its preview on Friday (3 January), making it the area's first new private residential launch since 2016. When the Government Land Sales (GLS) site was launched for tender in 2023, it attracted three bids. It was ultimately awarded to a joint venture consortium comprising City Developments Limited (CDL), Frasers Property, and Sekisui House for $968 million, translating to a land rate of $1,360 psf per plot ratio (psf ppr).

The 99-year leasehold development, situated within a five-minute walk from Braddell MRT station, comprises two 40-storey towers housing a total of 777 residential units.

Prime Location and Development Background

Located at Lorong 1 Toa Payoh, The Orie is the first new private home project in the precinct since 2016. In 2023, the government released this land parcel for tender, drawing bids from three developer groups. In the end, a consortium comprising City Developments Limited, Frasers Property, and Sekisui House won the bid with an offer of $968 million, which works out to $1,360 psf ppr.

The project comprises 777 residential units, with prices starting from $2,395 to $2,500 psf. Unit layouts range from one-bedroom plus study (517 sq ft) to five-bedroom units (1,453 sq ft), with average prices between $2,400 and $2,500 psf.

Indicative prices include:

1-Bedroom units: from $1.28 million

2-Bedroom units: from $1.48 million

3-Bedroom units: from $2.09 million

4-Bedroom units: from $2.92 million

5-Bedroom units: from $3.48 million

The development is surrounded by a multitude of prestigious schools, including:

Pei Chun Public School

CHIJ Primary and Secondary School (Toa Payoh)

First Toa Payoh Primary School

Kheng Cheng School

Raffles Institution

Raffles Girls' School

St. Joseph’s Institution International

These reputable institutions provide an extensive selection of educational pathways from primary to secondary and international curricula, making the development exceptionally appealing to family home buyers.

With its strategic central location near the Central Business District (CBD) and the Orchard Road shopping belt, The Orie is ideally suited for buyers seeking a modern, luxurious lifestyle. Developed as a Super Low Energy (SLE) building, The Orie not only champions environmental sustainability but also exemplifies the latest trends in high-end residential living.

As one of the first residential launches in District 12 this year, the project presents a rare investment and homeownership opportunity.

Just across the road, Gem Residences has also regained the spotlight among buyers. According to Urban Redevelopment Authority (URA) caveats, the first 11 months of 2024 saw 30 resale transactions. Although marginally lower than the 33 transactions recorded in the same period a year earlier, the average resale price reached $1,930 psf, marking a 5.2% year-on-year increase.

Gem Residences is a 578-unit, 99-year leasehold private condominium led by Evia Real Estate and completed in 2020. Located close to Braddell MRT station and nearby hawker centres, it is highly popular among tenants. In the first 10 months of 2024, the development logged 144 rental transactions, with an average monthly rent of $3,512.

Trevista Resale Volumes Surge 66.7% Year-on-Year

Another notable private condominium is Trevista along Lorong 3 Toa Payoh. The 590-unit development recorded 30 resale transactions in the first 11 months of 2024 at an average price of $1,840 psf, with transaction prices ranging from $1.15 million to $3.22 million.

The project's resale volume jumped 66.7% year-on-year in 2024, while its average psf price climbed 11% compared to the prior year. This reflects stronger capital appreciation for this 99-year leasehold project compared to Gem Residences. Key strengths include its proximity to prestigious institutions like Raffles Girls' School and Marymount Convent School, as well as being even closer to Braddell MRT station than Gem Residences.

On the leasing front, URA recorded 82 rental contracts at Trevista in the first 10 months of 2024, commanding an average monthly rent of $4,969.

Oleander Towers, situated closer to Toa Payoh Central, saw fewer transactions, with only six units changing hands in 2024 at an average price of $1,470 psf, and transaction values between $1.65 million and $1.78 million.

While this 26-year-old development may see slower buying interest, it remains a top choice for tenants. Directly opposite CHIJ and SJI International, it is ideally positioned for lease to families and international students.

The project registered about 41 rental contracts in 2024, with an average monthly rent of $4,262.

Welcoming the new year, the developers are excited to launch The Orie. As the first private residential launch in Toa Payoh in eight years, set in this vibrant and highly sought-after mature estate, its central location and exceptional connectivity are poised to offer immense convenience to buyers.

Combining an unbeatable location, seamless transport links, and rich surrounding amenities, The Orie is undoubtedly positioned as one of the most keenly watched projects of 2025.

With the debut of The Orie and support from other quality developments, market vitality across Toa Payoh has picked up noticeably. Both investors and owner-occupiers alike will find compelling opportunities in this sought-after estate.

The Orie is scheduled to commence official sales bookings on 18 January, with targeted completion around May 2030. This delivery timeline gives buyers ample runway for financial planning, while marking a significant milestone that will rejuvenate the urban landscape of Toa Payoh.

From its prime location and eco-conscious architectural design to a lifestyle of unmatched convenience, The Orie possesses every hallmark to stand out as a marquee residential launch of 2025.