GuocoLand’s Midtown Modern introduces ‘Sky-Bungalows’ at S$15.5m to S$17m each

by Albert02

GuocoLand’s Midtown Modern introduces ‘Sky-Bungalows’ at S$15.5m to S$17m each

GuocoLand’s Midtown Modern introduces ‘Sky-Bungalows’ at S$15.5m to S$17m each. GUOCOLAND has launched a collection of six large, double-storey homes at its Midtown Modern condominium in Bugis, with prices ranging from S$15.5 million to S$17 million each, or S$4,287 to S$4,701 per square foot (psf).

The “Midtown Modern Sky-Bungalow Collection” was created by combining 4-bedroom premium units that are stacked together, an option that the developer offered during its March launch last year. Each of the 6 Sky-Bungalows is 3,616 square feet (sq ft) in size, has 5 bedrooms, and offers panoramic views of the city from level 24 onwards of Midtown Modern’s 30-storey North and South Towers.

One of the six is a double-story penthouse on levels 29 and 30 of Midtown Modern’s South Tower, with a 4.2-metre ceiling height on the main living-dining floor. Saporiti Italia, an Italian interior design and furniture company, will create all of the designs. GuocoLand introduced these larger, double-story options in response to “the lifestyle preferences of today’s homeowners, who need larger homes with ample spaces for hosting and entertaining guests, as well as catering to a variety of living and home-working needs,” according to a press release issued on Tuesday (July 5). There are also two single-story penthouses in the development that have both been sold: a 4-bedroom, 3,272 sq ft unit and a 5-bedroom, 3,520 sq ft unit.

During the launch weekend of the 99-year leasehold condominium last March, 61 percent or 340 of its 558 units were sold, with 90 percent or about 273 of its 1-bedders and 2-bedders transacted. At the time, nearly half of the 3-bedroom units were sold, but only 8 of the 110 available 4-bedroom units were purchased. The average selling price at the time of the launch was close to S$2,800 psf, with transacted prices ranging from S$2,401 psf to S$3,501 psf, or approximately S$1.17 million for a 1-bedroom unit to S$5.63 million for a 4-bedroom unit. The 5-bedroom penthouse was also sold at the time, for S$14.83 million, or S$4,213 per square foot.

A spokesperson for the development told The Business Times that it is now 76% sold, with “prices based on transactions in 2022” ranging from S$2,562 psf to S$4,279 psf. The 1- and 2-bedders are now more than 95% sold, with the remaining sizes “more than half sold.” The luxury condominium, located on Tan Quee Lan Street, is expected to be completed in 2024 as part of GuocoLand’s massive Guoco Midtown integrated development. Midtown Bay, a 33-story, 219-unit residential project within Guoco Midtown, opened in October 2019.

Lentor Modern, a 605-unit, 99-year leasehold mixed development, is set to open later this year.

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