Referencing North Gaia (the last EC launch), with a breakeven price of $1,025 psf ppr, it launched at an average price of $1,302 psf. What worries me is that developers could also price above $2,000 per square feet as it seems to be an acceptable norm for launches these days. As one of Singapore’s most renowned developers with a strong track record of integrated developments, it is definitely an exciting future for Lentor residents.
Having a technical height of 110 metres, residential buildings on this site are allowed to reach a height of up to 23 storeys. In addition, there is also another site – Pine Grove (Parcel B) under the reserve list which is yet to be launched as well. Hong Kong-led joint venturers Hong Leong Holdings, GuocoLand and TID were awarded the tender to residential site Lentor Hills Road (Parcel A) after achieving the top bid of $586.6 million or $1,060 psf per plot ratio on January 18, 2022.
Some of the products they sell include seafood, poultry, BBQ roast meats, cured meat, pastry, cakes and many more. Properties near popular schools are highly sought after by both investors and parents. In order to secure a place in these schools, some parents have even resorted to renting or paying top dollar for properties located near them. The Lentor Hills Road (Parcel A) has already been sold at the government land tender in January 2022. Two other parcels – Lentor Hills Road (Parcel B) and Lentor Central – will likely be tendered soon as they are in the URA’s “confirmed” list while the Lentor Gardens site has just been transferred from the “reserve” list to “confirmed” list. This site will be the first of five potential new Lentor residential projects to be developed.
In addition, 182 (73.4%) of the 248 three-bedroom units, and over 50% of the 63 four-bedders were snapped up. At the launch of Lentor Modern on 17 September 2022, GuocoLand sold 508 out of a total of 605 units, translating to a take-up rate of 84%. In Singapore, GuocoLand has successfully developed many upscale residential and commercial projects.
With a sizeable site area of 17,279.9 sq m (186,000 sq ft) and a rectangular plot, it will allow the developer to maximise land use. lentor hill residence are property development, property investment, hotel operations and property management. The Group’s portfolio comprises of residential, hospitality, commercial, retail and integrated developments spanning across the region.