Martin Modern’s launch over the weekend was a great success. The initial plan was to launch between 50 and 60 units but due to overwhelming interest, GuocoLand sold close to 90 units as buyers recognized the development’s unique luxury offering which is unparalleled in Robertson Quay.
The units sold ranged from two to four-bedrooms at the price range of $2,009 psf to more than $2,500 psf. The value of the apartments ranged from $1.75 million to $4.55 million and the total value of all apartments sold this past weekend was more than $220 million.
“The response is fantastic as this is a high-end project and each unit is relatively big-ticket. What is more encouraging is that more than 70 percent of the units sold were the larger units and 80 percent of the buyers are high-income Singaporeans who know the market very well and are savvy investors. This is a strong stamp of confidence in Martin Modern in terms of its quality and growth potential. We also understand that many of the buyers are considering the units for their own use,” said Mr. Cheng Hsing Yao, Group Managing Director, GuocoLand Singapore.
There was all-round interest in the various unit types with more than 70 percent buying the larger units. Buyers were particularly attracted by the ‘home within a botanic garden’ concept. They were impressed by the apartments’ contemporary flair with top-end fixtures and fittings, high ceilings, spacious living areas, large windows and balconies that seamlessly extend the living space and look out onto the property’s botanic garden or Singapore’s skyline.
Martin Modern attracted discerning buyers who appreciated Martin Modern’s living spaces that are inspired by Good Class Bungalows (“GCB”) and the Botanic Gardens. They also appreciate the chic lifestyle at Robertson Quay in prime District 9. The area is also growing and transforming, especially with two new MRT lines and upcoming MRT stations at Great World and Fort Canning as well as redevelopment of the Kim Seng Road corridor.
Martin Modern is expected to receive its temporary occupation permit (“TOP”) by end 2021.
Photo credit: GuocoLand
Photo credit: GuocoLand
Photo credit: GuocoLand
For more information on Martin Modern, please click here.
About GuocoLand Limited
GuocoLand Limited (“GuocoLand”) is a public company listed on the Singapore Exchange since 1978. The principal business activities of its subsidiaries are property development, property investment,hotel operations and property management.
GuocoLand and its subsidiaries (“GuocoLand Group”) have established property operations in their geographical markets of Singapore,China, Malaysia and Vietnam, comprising residential, hospitality, commercial and retail developments. In 2017, GuocoLand marked its expansion beyond Asia into the new markets of the United Kingdom and Australia through a strategic partnership with Eco World Development Group Berhad in Eco World International Berhad. As a premier regional property company, GuocoLand is focused on achieving scalability, sustainability and growth in its core markets through its property development, investment and management businesses.
The parent company of GuocoLand is Guoco Group Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. Guoco Group Limited is a member of the Hong Leong group of companies.
As at 30 June 2016, the GuocoLand Group had total assets of S$7.91 billion and total equity attributable to shareholders of S$3.28 billion.
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