MIDTOWN MODERN DEVELOPER
Midtown Modern Developer: GuocoLand
As one of Singapore’s top real estate company, Midtown Modern Developer GuocoLand Limited boasts an impressive track record for iconic developments and luxury residences. Listed on the Singapore Stock Exchange since 1978, GuocoLand’s parent company Guoco Group Limited is listed on the Hong Kong Stock Exchange. Its primary business is focused on property development, property investment, hotel operations, and property management. The company’s strong financial performance as of 30 June 2020 stands at $941.8 million in total revenue and $11.1 billion in total assets.
One of the iconic development by Midtown Modern Developer is Guoco Tower, GuocoLand’s flagship integrated mixed-use development. Located right above Tanjong Pagar MRT in the premier location of the Central Business District, the design of Guoco Tower is inspired by the concept of a vertical city and comprises a unique blend of 890,000 square feet of Grade A office space, 100,000 square feet of retail and dining, a 181-unit luxury residence, a 5-star hotel and 150,000 square feet of the beautifully landscaped urban park.
The exclusive 181-unit luxury residential development, Wallich Residence, offers exceptional design and immaculate detailing, elevating it to be a symbol of ultra-luxury living in Singapore. Comprising of 1-bedroom to 4-bedroom layouts, Midtown Modern developer has specially created 4 exquisite penthouses and a super penthouse at Wallich Residence to showcase its achievement in offering the best in class luxury residences in Singapore.
Winner of the Gold award at 2020 FIABCI World Prix d’Excellence Awards in the Mixed-use Development category, Guoco Tower marks a significant milestone for both Midtown Modern Developer and Singapore as this is the first development in Singapore to receive an accolade in this category. The award gives due recognition to Guoco Tower’s unique design with a strong focus on liveability in the city, connectivity, walkability, and community bonding.
Over the past 3 decades, Midtown Modern Developer has successfully delivered 36 residential developments which are about 11,000 homes and apartments in Singapore and its latest development includes 3 luxury residences in the coveted District 9 and District 15. Located at the corner of Martin Place and River Valley Close, GuocoLand launched Martin Modern, a luxury residence that features the concept of ‘home within Botanic Gardens’ with 80% of the 171,000 square feet of land dedicated to landscape, trees, and vegetation.
Seated at the lifestyle enclave of Robertson Quay, 450-unit Martin Modern has been extremely popular with investors and also with homebuyers who looking for a residence in Singapore’s prime district. The development is conveniently located within short walking distance to Somerset MRT station, the future Great World MRT station, Orchard Road, Robertson Quay, Clarke Quay, and offices in the Central Business District, Marina Bay, and Civic District.
In addition to Martin Modern, Midtown Modern Developer has also launched The Avenir which is located at the site of the old Pacific Mansion and Meyer Mansion which sits on a premier sea fronting land parcel along Meyer Road in District 15. The 200-unit Meyer Mansion offers breathtaking unblocked panoramic views of the sea and the iconic skyline of the city and Marina Bay area. In addition to easy accessibility to the popular East Coast Park, Meyer Mansion is only a 10-minute drive to the city and the airport, and about a 6-minute walk to the future Katong Park MRT station on the Thomson-East Coast MRT line.
Midtown Modern Developer: Hong Leong
Established in 1968, Hong Leong is one of Singapore’s largest conglomerates, with core businesses in property investment and development, hotel ownership and management, financial services, and trading businesses. With a stellar track record of close to 100 projects, the Midtown Modern developer is a household name since the 1960s with many well-known projects such as Hong Leong Gardens, Tulip Gardens, and King’s Mansion in Amber Road. With over 50 years in property development, it was estimated that in 2013 close to one in every 5 private homes sold was developed by the Hong Leong. Holding the largest non-government resident land bank in Singapore, Hong Leong has a strong balance sheet with gross assets worth S$40 billion and employs a 40,000 strong workforce worldwide.
Despite the recent pandemic and circuit breaker in 2020, the Hong Leong Group sold a total of 1,398 residential units compared to 1,576 units in 2019 and achieved total sales of $2.11 billion as of December 2020.
Over the past 50 years, Midtown Modern Developer Hong Leong has made significant contributions to the Central Business District with many developments such as Hong Leong Building (1975), Fuji Xerox Towers (former IBM Towers), Anson Centre and many others. In addition to commercial developments, Hong Leong’s portfolio has grown with many high-end residences such as One Balmoral, St Regis Residences, The Meyerise, The Makena, The Atria at Meyer, Aalto, and Watermark Robertson Quay.
The newest addition to Hong Leong’s portfolio is The Avenir, a 376-unit luxury residence seated on 128,352 square feet of prime land in the coveted River Valley neighbourhood at District 9. Jointly developed with GuocoLand, the Midtown Modern Developer successfully acquired Pacific Mansion at a price tag of $980 million through an en-bloc. The development consists a pair of 36-story towers, embedded amongst lush greenery and garden landscapes. The Avenir, which means “future” in French, enjoyed a good start during its launch in January 2020.
A total of 20 units was sold over the launch weekend out of the 40 units that were released. As large units in luxury condominiums are hard to come by, 7 out of the 20 units sold were premium 4-bedroom units and the average transacted price was estimated at $3,560 psf.
In addition to property development, Midtown Modern Developer also manages and operates over 150 hotels with more than 43,000 rooms in 80 places globally. Furthermore, Hong Leong also owns Millennium & Copthorne Hotel plc, the largest international hotel group in Singapore. With a proven track record from GuocoLand and Hong Leong, residents of Midtown Modern can look forward to an exciting and high-quality living experience that is a cut above the rest.