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

GUOCOLAND : F17 0% has launched a collection of 6 large, double-storey homes at its Midtown Modern condominium in Bugis priced at S$15.5 million to S$17 million each or S$4,287 to S$4,701 per square foot (psf).

Branded as the “Midtown Modern Sky-Bungalow Collection”, these have been created by combining 4-bedroom premium units that are stacked together - an option the developer had offered during its launch in March last year.

Each of the 6 Sky-Bungalows is 3,616 square feet (sq ft) in size, comes with 5 bedrooms and offers panoramic views of the city, being located from level 24 onwards of both the 30-storey North and South Towers of Midtown Modern.

One of the 6 is a double-storey penthouse located on levels 29 and 30 of Midtown Modern’s South Tower and boasts a ceiling height of 4.2 metres on the main living-dining floor.

All will come with designs by Italian interior design and furniture company Saporiti Italia.

According to a press release issued on Tuesday (July 5), GuocoLand introduced these larger, double-storey options in recognition of “the lifestyle preferences of homeowners today, 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”.

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The development also has 2 single-storey penthouses – a 4-bedroom, 3,272 sq ft unit and a 5-bedroom version at 3,520 sq ft - which have both been sold.

Some 61 per cent or 340 of the 99-year leasehold condominium’s 558 units were sold during its launch weekend last March, with 90 per cent or about 273 of its 1-bedders and 2-bedders transacted.

At that time, almost half of the 3-bedroom units were sold, but just 8 of the 4-bedroom units, out of more than 110 available, were purchased.

The average selling price achieved at the launch was close to S$2,800 psf, with transacted prices ranging from S$2,401 psf to S$3,501 psf, or about S$1.17 million for a 1-bedder to S$5.63 million for a 4-bedroom unit.

The 5-bedroom penthouse was also sold then, fetching S$14.83 million or S$4,213 psf.

In an update, a spokesperson told The Business Times that the development is now 76 per cent 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 over 95 per cent sold, with the rest of the sizes “more than half sold”.  Situated along Tan Quee Lan Street, the luxury condominium is expected to be completed in 2024 and is part of GuocoLand's mega Guoco Midtown integrated development. The other residential project within Guoco Midtown is the 33-storey, 219-unit Midtown Bay, launched in October 2019.

The developer is launching its 605-unit, 99-year leasehold mixed development, Lentor Modern, some time this year.