Martin Modern By GuocoLand
Martin Modern is an upcoming residential development at Martin Place, District 9 of Singapore. It is proudly presented by Guocoland, who has successful past track records in the luxury residential segment such as Goodwood Residences and Leedon Residences.
This development will consist of two majestic towers, standing tall at 30-storey each. Both are strategically oriented towards the south-east direction to maximise the beautiful Central Business District skyline and southern sea view.
There are a total of 450 residential units with full condominium facilities such as 50 meter lap pool with pool deck, majestic double storey clubhouse, tennis court and BBQ pavilion. The basement carpark will be concealed below the landscaping deck, which is being raised to enhance the view of each apartment due to its lower ground in comparison with its neighbouring project Martin Place Residences.
Prior to the completion in year 2020, Guocoland will also undertake to widen the road along Martin Place, River Valley Close and Muthuraman Chetty Road in order to minimise any potential traffic bottleneck due to the increase in household around this area.
Hotly Contested Site at Martin Place GLS
If you are living around the River Valley, you must have been hearing the buzz regarding the recently sold Government Land Sale (GLS) site. The tender for Martin Modern Condo site was released and it was successfully captured by the GuocoLand.
According to the sources, 13 companies submitted the bid for the site with lowest bid from Multi Wealth, a Singaporean local development company at $402.8 million for the project which makes $839 per square foot. On the other hand, the highest bid was from GuocoLand which is under the control of Quek Leng Chan, a Malaysian. They submitted a proposal of $595.1 million which means $1239 per square foot.
The second bid was slightly lesser than this one, being $588 million at $1224 per sqft. So, this District 9 site is sold now on the terms of lease for 99 years. The allowed development is only residential with the capacity of around 450 units.
Martin Modern Project Details
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Your Best Investment Choice: Martin Modern
According to the experts, there are only few purely residential sites available to the developers now and sealing Martin Modern is a wise move. People may argue about investing in this area. But the matter of fact is that this is, without any doubt, a prime location for living. You get a house at a perfect place, just minutes away from Orchard Road.
The other places you get nearby are the beautiful Singapore River and future Great World MRT Station on the Thomson-East Coast Line. So, you can expect a beautiful scenery and multiple facilities along your lavish condo.
In short, if you see the deal from the business point of view, it can bring a lot of benefit to the investors. Although the amount to get tender is also considerable but if you look at the long-term benefits, GuocoLand is going to make some decent profit from it. Moreover, it is expected to be providing luxury condos considering its location and facilities nearby.