AMO Residence

Being the first private residential launch in Ang Mo Kio since 2014, AMO Residence may prove to be a no-brainer upgrade for homebuyers and aspiring parents in the precinct.

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AMO Residence is this new condominium at Ang Mo Kio Avenue 1.

It’s the first new launch condominium in Ang Mo Kio since 2014 and it’s possibly the most sought-after launch in 2022 after Piccadilly Grand.

AMO Residence Condo at Ang Mo Kio

Just to get this out of the way, most of you will surely think that it’s a ridiculous name and what was the developer thinking.

Honestly, UOL Group (one of the developers involved) hasn’t been quite the William Shakespeare when it comes to naming their projects over the last couple of years.

Some of these include Principal Garden, The Tre Ver, and even The Clement Canopy.

Above all, I think Principal Garden really tops the lot.

However, I would say these are some of the best works that UOL Group has ever developed.

If you’ve seen some of those most recently completed projects (including the ones mentioned earlier), you will see why they are my favorite property developer in Singapore.

One of them was Meyerhouse and I had the opportunity to show one of my clients recently.

It was truly magnificent.

 

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You might be asking, why is this important, Edison?

I’ll get to that in the review section.

Firstly, let us get straight into the full project details of AMO Residence and I’ll share with you my personal thoughts and review at the end of this article.

AMO Residence Project Information

Here’s a quick overview of AMO Residence condominium in Ang Mo Kio Avenue 1.

Project Name AMO Residence
Address 21 Ang Mo Kio Rise Singapore 569417
23 Ang Mo Kio Rise Singapore 569417
Type Residential
Developer UOL Group, SingLand, and Kheng Leong
Tenure 99-year Leasehold
Site area 136,479 sq ft
Total number of units 372
Total number of carpark lots TBC
Number of blocks 2
Number of storey 25-storey each
Expected TOP date End 2026

Developers for this new launch

The property developer for AMO Residence is a joint venture (JV) between 3 real estate organizations.

They are namely UOL Group, SingLand (Singapore Land Group), and Kheng Leong.

As a matter of fact, this is not the first time that these 3 firms have teamed up to develop private homes.

Some of their previous (completed) JV projects include Thomson Three, Archipelago, The Clement Canopy, etc.

Not only those, but also some of the ongoing new launch projects are namely Avenue South Residence, The Tre Ver, The Clavon, and The Watergardens At Canberra.

UOL Group

Without a doubt, UOL Group is one of the leading property developers in Singapore.

If you didn’t know this, United Overseas Bank (UOB), one of Singapore’s 3 major banking groups is actually among the major shareholders of UOL Group.

It owns around 40 percent of the real estate firm, together with the Wee family.

Previously known as Faber Union and founded in 1963, UOL Group received its present name after being acquired by UOB back in 1973.

UOL Group’s core businesses include the development and management of residential properties, retail malls, commercial buildings, and also in the hospitality segment.

Furthermore, many of its projects are located within the prime districts of Singapore.

Thomson Three by UOL Group
Thomson Three by UOL Group – completed in 2016. Image source: EdgeProp

UOL Group has previously developed a few projects that are within close proximity to AMO Residence, such as Meadows at Peirce and Thomson Three.

Hence, it will certainly have a clear understanding of what sort of homes are appealing to homebuyers and investors in the area.

Singapore Land Group

Singapore Land, previously known as United Industrial Corporation Limited (UIC), is a subsidiary firm of UOL Group.

The firm is also better known as SingLand to real estate practitioners like myself.

Most Singaporeans from the late 1970s to 1980s would probably remember the historic UIC Building (United Industrial Corporation Limited Building) along Shenton Way.

Yes, it was fully owned by UIC in 2007.

However, the building was demolished to make way for the current V on Shenton – a mixed residential and commercial development.

V on Shenton Way Condo Aerial View
V on Shenton by SingLand, completed in 2017

Being a listed real estate firm since 1971, SingLand has a diverse portfolio that includes residential developments, commercial offices, retail properties, and hotels.

Some of its own residential projects include the likes of Alex Residences, V on Shenton, Pollen & Bleu, etc.

Kheng Leong

Unlike the other 2 developers, Kheng Leong started off as a business owned by the Wee family back in 1949. It trades commodities such as pepper, rubber, and sago flour.

Today, Kheng Leong’s board of directors comprises mainly members of the Wee family.

Led by Mr. Wee Cho Yaw, the firm operates businesses across a wide range of market segments – from finance and banking services to hospitality and healthcare.

Being also a real estate investment firm, Kheng Leong has also been heavily involved in numerous private residential developments in Singapore.

15 Holland Hill by Kheng Leong
15 Holland Hill by Kheng Leong

Most of the time, for any new launch project that is being developed by UOL Group, you will definitely Kheng Leong being listed as one of the joint partners as well.

Together, they have developed some of the finest private homes in Singapore – such as 15 Holland Hill, Nassim Park Residences, and the newly completed MeyerHouse.

Location

AMO Residence is located along Ang Mo Kio Rise, within District 20 of Singapore.

It is right next to The Clover @ Kebun Baru, an iconic HDB block in the area.

AMO Residence Condo Location

As shown above, AMO Residence is surrounded by plenty of nature spots, parks, and amenities.

Here are some of the key location attributes.

Within 1 km to CHIJ St Nicholas’ Girls School and Ai Tong Primary School

This would definitely be the top consideration for many parents with school-going children.

AMO Residence is located within a 1-km radius of both CHIJ St Nicholas Girls’ School and Ai Tong Primary School.

AMO Residence near CHIJ St Nicholas Girls School
CHIJ St Nicholas Girls’ School

These two schools have been widely recognized as among the top primary schools in Singapore.

Hence, for homebuyers who are making plans to send their kids to these schools, this would be advantageous.

That is to say, getting a unit at AMO Residence would give their children priority admission to the schools.

In addition, other top educational institutes such as Ang Mo Kio Primary School, Mayflower Primary School, Anderson Primary School, Anderson – Serangoon Junior College, and Nanyang Polytechnic are all within close proximity as well.

Walking distance to Mayflower MRT Station

Another key location attribute would be the condominium’s close proximity to Mayflower MRT Station.

The Mayflower MRT station is situated along the newest Thomson-East Coast MRT Line (TEL).

Looking at the TEL, you can see that it comprises various interchange stations.

Therefore, it would be extremely for commuters who are living at AMO Residence to travel around Singapore.

For instance, commuting to Orchard Road is just mere 8 stops away from Mayflower MRT Station; the Central Business District (CBD) is 13 to 14 stops away.

Walking distance from AMO Residence to Mayflower MRT station

If you’re wondering what is the walking distance between AMO Residence and Mayflower MRT station, it is just a short 8-minute walk (to the closest entrance), according to Google Maps.

Close proximity to nature and amenities

AMO Residence is located near some of the most popular nature spots in Singapore – Bishan Park and the Lower Peirce Reservoir Park.

Singapore is practically a concrete jungle. Hence, being able to live near to nature would be considered a luxury in this country and it’s truly rare.

That is to say, it would be a big plus point for nature lovers who are living at AMO Residence.

Bishan Park next to AMO Residence
Bishan Park

This would also be exceptionally important to most families with kids as it provides the young ones with a sense of connection with nature.

In addition, the fact this new condominium at Ang Mo Kio Avenue 1 is nestled within a mature housing estate, residents will find an abundance of amenities in the area.

Moreover, you will find various eateries and F&B options that serve up some of the best local delicacies, and supermarkets around the precinct.

Condo Design and Architecture

Despite having a relatively smaller land plot as compared to other newer condos within the vicinity, potential buyers for AMO Residence can be assured that they will not be short-changed.

In this case, the design and architecture of this new launch at Ang Mo Kio Avenue 1 simply reminds me of 2 other recent projects by UOL group.

They are The Clement Canopy and Clavon. Both are located along Clementi Avenue 1.

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Lentor Modern

Piccadilly Grand

The Clavon condo at Clementi Avenue 1
Clavon

As a matter of fact, AMO Residence is being designed by P&T Consultants – the same architect who crafted Clavon.

Hence, you can clearly see the resemblance between these two projects.

Furthermore, if you have seen most of UOL Group’s projects, you would know that it emphasizes a lot on creating beautiful landscaping.

It is also important to realize that the developer is extremely capable of planning out highly efficient living spaces, i.e. unit types that strongly appeal to homebuyers or investors.

Looking at the AMO Residence site plan, the architect has clearly adopted a “minimalist” kind of design.

In this case, there are only 2 residential towers and 8 residential units on each floor.

I truly believe that the inspiration and concept came from the lush greenery and nature nearby.

With this in mind, the residential towers are oriented in a way that they not only avoid the morning or evening sun, but residents living on the higher floor can also enjoy unblocked views of the surrounding.

AMO Residence Floor Plans and Unit Types

AMO Residence comprises 372 units in total across 2 residential blocks.

In addition, Here are floor plans for AMO Residence and the breakdown of the unit types available within the condominium.

  • 2-Bedroom –  614 to 678 sq ft
  • 2-Bedroom Premium – 743 sq ft
  • 3-Bedroom – 958 sq ft
  • 3-Bedroom + Study – 1,044 sq ft
  • 3-Bedroom Premium + Study – 1,141 to 1,367 sq ft
  • 4-Bedroom – 1,292 sq ft
  • 5-Bedroom – 1,475 sq ft
  • Penthouse – 2,293 – 2,497 sq ft

4-Bedroom and larger units will come with private lift lobbies.

AMO Residence Price Range

Here’s a price guide for AMO Residence.

Bedroom Type Starting Price PSF$
2-Bedroom $1.26 million $2,052
3-Bedroom $1.81 million $1,889
4-Bedroom $2.48 million $1,920
5-Bedroom  $2.85 million $1,932

However, do take note that the above price guide is based on its initial launch and if you need an update on the price, do drop me a note using the form below.

As you can see, the price range will be between $1,900 to $2,300 psf on average. In order to make reasonable profits, units in the project have to be sold at this price range.

So how did I derive this average?

Let’s look at the details of this land sale when it was acquired by the developers back in June 2021.

AMO Residence Land Sales Ang Mo Kio Avenue 1

As shown above, the estimates indicate that the developers’ breakeven price would be $1,822 psf ppr. Therefore, it’s almost impossible for them to price anything lower.

For instance, the most recent example would be the sales at Piccadilly Grand.

It was launched in May 2022 and units were sold between $1,841 to $2,477 psf, and the developer’s breakeven price was $1,837 psf ppr.

Land Breakeven Price

Thus, UOL Group and its partners have priced AMO Residence somewhat similar to Piccadilly Grand, despite the commercial component being the difference.

AMO Residence Showflat Location

The AMO Residence showflat is located right next to the actual site, along Ang Mo Kio Avenue 1.

Although It hasn’t been officially launched yet, it’s expected to host its preview on the 2nd weekend of (9th & 10th July 2022).

AMO Residence Showflat Location

The opening hours of the showflat have yet to be announced.

However, if you would like to attend the preview of this new launch at Ang Mo Kio Avenue 1, please feel free to drop me a WhatsApp message to arrange for an appointment.

Your support will be greatly appreciated!

AMO Residence Review

To clarify, most of AMO Residence’s information hasn’t been released at the time of writing this review.

Therefore, all my thoughts would be solely based on initial impressions of this new launch at Ang Mo Kio Avenue 1.

Firstly, there’s really nothing to complain about when you look at the location of the condominium.

Unlike most condo projects that are near MRT stations, AMO Residence is within a 1-km radius of two of the most popular primary schools in Singapore.

That is to say, it could draw huge interest to homebuyers, especially those with school-going kids.

For instance, the overwhelming take-up rate over time at The Panorama was notably one of the best examples.

Not only was it just right opposite St Nicholas Girls’ School, but also just within close proximity to Mayflower MRT Station.

Likewise, Hundred Palms Residences EC (literally across Rosyth School) experienced the same.

But at what price?

My deepest concern at this point would be the launch price.

This is where the debate between Rest of Central Region (RCR) and Outside Central Region (OCR) properties begins in this case.

For this reason, AMO Residence shouldn’t be at the same price point as Piccadilly Grand.

It’s for obvious reasons – one is in the OCR while the latter is in the Rest of the Central Region (RCR).

But one can also argue that units at Pasir Ris 8 were also sold at the RCR price point despite being in the OCR.

Pasir Ris 8 Condo
Pasir Ris 8

For instance, a 2-bedroom unit at Pasir Ris 8 (710 sq ft) was sold at $1.486 million ($2,092 psf) in 2H 2021.

On the other hand, a 2-bedroom unit at The Antares (710 sq ft) was sold at only $1.291 million ($1,817 psf) during the same period.

It does seem like the “product” itself matters more to homebuyers or investors than the location.

Then again, I’m sure most of you wonder if you were to enter at such pricing, would you be able to exit with a profit in the future?

Healthy demand within the precinct

If you’ve read some of my earlier blogs or articles, I’ve always used the current demand and supply within a precinct to gauge a project’s potential for capital gains.

Therefore, here I am going to use two of the most recently completed condominium projects as references. They are Thomson Impressions and The Panorama.

As you can see from the transactions recorded in both projects, buyers today are generally paying around $1,700+ psf for a resale or second-hand unit.

The demand surely looks really good from the number of units transacted every month.

In other words, sellers have mostly generated huge profits.

Another key point is that both condo projects are close to an MRT station and within a 1-km radius of St Nicholas Girls’ School and Ai Tong Primary School.

Hence, they have very similar “selling points” as compared to AMO Residence.

Not saying that all of these buyers bought properties in these projects because of the schools. But there’s certainly a good chance of that.

If you are a local, you will probably understand how much parents in Singapore are willing to sacrifice for their children’s future.

However, some of you may ask, isn’t it better to buy a unit in these condos than AMO Residence at a lower price point?

That would be a totally different discussion and analysis. 

So if you are keen to know my thoughts on that, you can always drop me a WhatsApp message or reach out to me using the form below.

So is AMO Residence worth buying?

In conclusion,  I personally think that AMO Residence has almost everything that a home buyer or investor can ask for.

There are plenty of amenities, an MRT station within walking distance, and good potential for capital appreciation, etc.

Above all, it’s really the 1-km proximity to not one but two top primary schools in Singapore that matters.

At this point, I really couldn’t find much to dislike about AMO Residence.

It’s almost the perfect property, only if it’s being priced right. 

Based on experience, that’s something the UOL Group and the other developers are indeed capable of. 

That is to say, they seem to get their price point spot-on for every single project they have launched in the past.

But there’s a problem.

At the time of writing this article, the Singapore property market may be facing some form of uncertainty as mortgage rates continue to rise.

To date, we are looking at fixed interest rates that are as high as 3.08 percent per annum.


Hence, it remains to be seen how bad is this going to affect the sales of AMO Residence.

All things considered, I’m not saying that this would be a sell-out in 1 day or 1 week.

However, if 50 percent or more units were to be sold on Day 1, it will definitely give the property market a strong boost and set the tone for upcoming launches.

On top of that, It’s almost certain the pricing of AMO Residence will gradually rise over time.

Therefore, if you are financially strong, you should enter at the initial stage. That is because it’s usually the lowest price being offered over time.

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