Transforming communities through the creation of mixed-use projects is one of Guoco Real Estate's core competencies, as reflected in the Guoco Tower in Tanjong Pagar and Guoco Times City on Mei Chi Road.
GuocoLand's vision for the Lentor area is to transform the Lentor area into an upscale and attractive residential and fashion district.
After 20 years, Lentor Modern, the first commercial and residential mixed-use real estate project in the Lentor area, will open for preview on September 2, with prices per square foot for private residences starting at $1,880.
Lentor Modern starts at $1.08 million for a one-bedroom, and $1.38 million and $1.88 million for a two- and three-bedroom, respectively. The largest four-bedroom starts at $2,920,000.
Lentor Modern combines three 25-story residential buildings with 605 units, plus two commercial floors, totaling 96,000 square feet. There will be restaurants, retailers, supermarkets and child care centers in place.
Lentor Modern sold 80 percent of its units within two days of opening, with one- and two-bedroom units already sold out.
Lentor Modern, the first private residential development in the Multi-Center residential area, sold 84% of its units in two days, with one-bedroom and two-bathroom units sold out.
Of the 248 three-bedroom units, 182 were sold, and of the 63 four-bedroom units, 32 were sold. The project has a total of 605 units.
The announcement shows that 92% of the buyers of the project are Singaporeans and the rest are permanent residents and overseas buyers.
The buyers are mostly owner-occupiers and the overall transaction price ranges from $1,856 to $2,538 per square foot.
The project is said to have purchased the units in tranches, but the developer denied any such deal in response to inquiries.
Lentor Modern is a mixed-use commercial and residential project connected to the London-based subway station. Residents will have access to a shopping center with restaurants, a supermarket and a childcare center, and future real estate prices will be pushed up as the entire area develops.