[New Launch] GuocoLand Achieves Another Milestone: Lentor Modern and Midtown Modern Fully Sold Out as Momentum in Lentor Hills Continues to Build

Singapore property developer GuocoLand has notched up another stellar achievement! Lentor Modern, an integrated development in Lentor Hills, has transacted its final unit, marking a 100% sell-out of the 605-unit project. Meanwhile, Midtown Modern in Bugis was also fully sold out last December, underscoring strong market demand for quality homes.

Lentor Modern: Average price of $2,107 psf, fully sold in two and a half years

According to URA data, the final unit at Lentor Modern—a 1,130 sq ft, three-bedroom apartment—transacted on 19 January for $2.4 million ($2,126 psf). This means that since its launch in September 2022, Lentor Modern has completely sold out in just two and a half years, demonstrating strong market confidence in the project.

Data shows that the project achieved an average transacted price of approximately $2,107 psf, receiving an overwhelmingly positive market reception.

Lentor Modern is a 99-year leasehold integrated mixed-use development comprising three 25-storey residential towers totalling 605 units, situated atop a 96,000 sq ft retail mall. The mall will feature a 12,000 sq ft supermarket (confirmed tenant CS Fresh), a 10,000 sq ft childcare centre (confirmed tenant ChildFirst), as well as a diverse array of retail and F&B options.

Directly connected to Lentor MRT station on the Thomson-East Coast Line (TEL), the development enjoys exceptional connectivity and convenience. According to GuocoLand's latest updates, the mall has already achieved a pre-leasing rate of over 50%, with commercial vibrancy steadily taking shape.

Notably, as the pioneering residential launch in Lentor Hills, Lentor Modern recorded an impressive 84% take-up rate on its launch weekend, attesting to its robust market appeal.

Midtown Modern: Average price of $2,825 psf, all 558 units sold out

Another blockbuster project, Midtown Modern, has also achieved a 100% sell-out. Located along Tan Quee Lan Street, the 558-unit development forms the residential component of GuocoLand's mega integrated development, Guoco Midtown.

Since its launch in March 2021, the project has garnered significant attention, ultimately selling out at an average price of around $2,825 psf, highlighting buoyant demand for prime city-centre homes.

Lentor Hills precinct continues to thrive with robust sales across multiple developments

Beyond Lentor Modern, GuocoLand and its joint venture partners have developed several residential projects across the Lentor Hills precinct, delivering remarkable sales performances:

Lentor Hills Residences

Developers: GuocoLand, Hong Leong Holdings, and TID

Total units: 598

Sales progress: 99% sold

Average price: Approx. $2,099 psf

Launch date: July 2023

Lentor Mansion

Developers: GuocoLand and Hong Leong Holdings

Total units: 533

Sales progress: 97% sold, with fewer than 20 units remaining

Launch date: March 2024

Opening weekend sales: 75% of units snapped up amid strong market interest

Lentor Central Residences (Expected launch in Q1 2025)

Developers: GuocoLand, Hong Leong Holdings, and CSC Land Group (Singapore)

Total units: 477

Project highlights: Located adjacent to the Lentor Modern retail mall, offering residents seamless access to comprehensive commercial amenities, and is widely expected to be well-received by buyers

Future pipeline: Upcoming development at Upper Thomson Road

Beyond Lentor Hills, GuocoLand is set to launch a brand-new residential development along Upper Thomson Road (Parcel B). Jointly developed by GuocoLand and Hong Leong Holdings, the site was awarded under the Government Land Sales (GLS) programme in April last year for $779.6 million, translating to a land rate of $905 psf ppr.

Target launch: Second half of 2024

Total units: 941 units across five 25-storey residential towers

Project highlights: Incorporates the adaptive reuse and conservation of parts of the former Upper Thomson Secondary School building; seamlessly connected to Springleaf MRT station (TEL) for unmatched transit convenience

Expert perspective: Enduring demand for premium homes brightens prospects for Lentor Central Residences

Commenting on the resilient sales momentum in Lentor Hills, the developer highlighted that the sell-out of Lentor Modern and strong results across other Lentor Hills developments affirm sustained buyer demand for premium quality homes. Lentor Hills has successfully transformed into a sought-after private residential enclave, drawing broad appeal from owner-occupiers and investors alike.

Lentor Central Residences is anticipated to generate strong interest among homebuyers given its proximity to the Lentor Modern mall and direct link to Lentor MRT station.

GuocoLand solidifies Lentor Hills as a premier residential enclave with promising outlook

From Lentor Modern and Midtown Modern to Lentor Hills Residences and Lentor Mansion, GuocoLand continues to demonstrate its market-leading development prowess in Singapore's residential arena. With upcoming launches like Lentor Central Residences and the new Upper Thomson Road site, market appetite for high-calibre residential offerings remains resilient.

For prospective buyers looking to enter the market, the upscale Lentor Hills precinct presents an exceptional option. Whether the upcoming Lentor Central Residences will sustain this impressive sales momentum is certainly one to watch.