SINGAPORE: GuocoLand’s newest high-end residential venture, Lentor Mansion, made waves during its weekend launch by selling 75% of its 533 units.
This impressive feat occurred over March 15 and 16, with 400 units finding new owners, each fetching prices between S$2,104 and S$2,478 per square foot (psf). The buzz of activity even included VIP sales on the launch’s debut day, The Straits Times reports.
With three 16-storey towers and three eight-storey blocks, Lentor Mansion offers two—to five-bedroom units catering to diverse family sizes.
Notably, the two-bedroom units were the most popular, with all 214 units quickly bought, while 84% of the 199 three-bedroom units were also quickly sold.
Singaporeans and permanent residents dominated the buyer demographic, with 99% of all purchasers during the launch weekend.
This marks a significant milestone as Lentor Mansion becomes the first development to be sold under new Urban Redevelopment Authority (URA) guidelines, which emphasize liveable space over the gross floor area.
According to Ismail Gafoor, CEO of PropNex, Lentor Mansion’s stellar sales performance made it “the best-performing new launch project in 2024.”
Mr Gafoor attributes this success partly to the development’s competitive pricing compared to its neighbours, which piqued potential buyers’ interest.
Moreover, Lentor Mansion’s facilities, spacious surroundings, and strategic proximity to Lentor MRT station and CHIJ St Nicholas Girls’ School made it a more attractive investment, contributing to its appeal among buyers.
This project is GuocoLand’s third venture in the Lentor Hills estate, developed jointly with Hong Leong Holdings. With an expected completion date of 2027.
Meanwhile, the relaunch of Cuscaden Reserve, a luxury leasehold condo development, saw the sale of 46 units at an average price slightly exceeding S$3,000 psf on March 16.
Jointly developed by SC Global, New World Development, and Far East Consortium, Cuscaden Reserve initially offered 79 units for sale starting from March 2, with discounted rates from S$2,900 psf.
Following this round of sales, 134 out of 192 units remain available, with most of the transactions comprising two-bedroom units.
For more information on Lentor Mansion, check Lentor Mansion’s website. /TISG
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