Martin modern is an exciting new residential development launch coming your way in prime District 9. This new development is proudly brought to you by Reputable Developer Guocoland bring with them their vast experiences in developing quality residential projects. Situated in an affluent neighborhood, the 450 units property will be located at the corner of Martin Place and River Valley Close, within the neighborhood of Robertson Quay. The last time a GLS site was made available in the vicinity was in Robertson Quay back in March 2011. Book your private taxi Johor Bahru to Martin Modern Singapore now!
Martin Modern – Luxurious Landscaping
Each unit will come with a view of the gardens, the city, or the Singapore River.
The developer, Guocoland also mentioned that over 80% of the condominium’s land area will be turned into ‘a unique botanic garden and an arboretum of native trees and vegetation’, with over 200 species of plants and over 50 species of trees and palms.
15 different spaces with various concepts will be spread over three levels, as the site has a 10-metre upward slop from one end to the other.
Accessibility
Martin Modern is also well-served by major arterial roads and the Central Expressway for accessibility to other parts of Singapore.
Amenities
One biggest draw for Martin Modern could possibly be its close proximity to River Valley Primary School, especially for parents of school-going kids.
And not only it is located near Robertson Quay where you will find various F&B options, it’s also within walking distance to the upcoming MRT Station next to Great World City (part of the new Thomson-East Coast MRT Line) which will provide residents with easy access to the Central Business District (CBD) and Marina Bay Financial District.
A wide range of shopping, dining and entertainment options are also available nearby at Orchard Road.
Martin Modern will likely comprise of 20-30 level storey height with 450 (Estimated) exclusive luxury residential units coupled with modern lifestyle facilities.
About Martin Modern Developer – Guocoland
GuocoLand Limited Corporate Profile Listed on Singapore Exchange Securities Trading Limited since 1978, GuocoLand Limited(‘ GuocoLand’) is a leading national property firm operating in Singapore, China, Malaysia and Vietnam’s geographical markets. In 2017, through a strategic relationship with Eco World Development Group Berhad in Eco World Berhad, GuocoLand marked its development beyond Asia into the new United Kingdom and Australia markets.
The main company activities of GuocoLand and its subsidiaries (“the Group”), headquartered in Singapore, are property development, property investment, hotel operations and property management, focusing on attaining scalability, sustainability and growth in their key industries. The portfolio of the Group includes regional-wide residential, hospitality, business, retail and integrated developments. The total assets of the Group amounted to $10.5 billion as of June 30, 2018.
The Group has effectively created 35 housing projects in Singapore that yield roughly 10,000 homes and flats. GuocoLand’s flagship integrated Guoco Tower mixed-use development, integrates Guoco Tower’s premium Grade A offices, vibrant lifestyle and F&B retail space, luxurious flats at Wallich Residence, 5-star company hotel Sofitel Singapore City Center and landscaped urban park. It has also created a large portfolio of properties spanning Beijing, Shanghai, Nanjing and Tianjin’s main towns. The 65%-owned subsidiary of the Group, GuocoLand (Malaysia) Berhad (listed on Bursa Malaysia), is an established developer of community-centered housing areas and innovative business and integrated development initiatives in Malaysia.
In recognition of its portfolio of quality, creative innovations and dedication to business excellence, the award-winning developer GuocoLand has been honored with countless prizes and honors both locally and abroad. These include pre-certification awards for environmental sustainability such as the Building and Construction Authority (BCA) Green Mark Awards and Pre-Certification Leadership in Energy and Environmental Design (LEED), as well as awards for the best property businesses such as the International Property Awards, FIABCI Property Awards, BCI Asia Awards and South East Asia Property Awards.
In Singapore Martin Modern provides a twist of luxury
On the weekend of July 8 and 9, SINGAPORE-LISTED property developer Guoco-Land was scheduled to preview its recent luxury condominium, the 450-unit Martin Modern. It was the first significant launch in over nine years of a condo project in Martin Place — since the next door Martin Place Residences 302-unit was first rolled out in 2008. It also marked a luxury condo’s first launch in 2017. GuocoLand had raised 12 other bidders to win the 99-year leasehold site a year earlier in a public property bid with a top offer of S$595.1 million (RM1.8 billion) or S$1,239 psf per plot ratio (ppr). Many had regarded the offer of Guoco-Land aggressive at the moment.
“It doesn’t look so costly now, one year on,” tells Cheng Hsing Yao, GuocoLand Singapore’s group managing director. Confidence of the developer in the site arises from the revenues he had continued to earn in two of his luxury condo projects: the 210-unit, freehold Goodwood Residence on Bukit Timah Road; and the 381-unit, freehold Leedon Residence, off Holland and Farrer Roads.
These powerful sales were accomplished in the remainder of the luxury condo segment last year against a background of lackluster sales. “What that showed us was that if you make the greatest use of a site to generate a product that individuals like, demand is going to be powerful regardless of the general market state,” Cheng claims.
Rare GLS Site
The other reason for the confidence of GuocoLand was that in the prime neighborhood there are very few state property sites. The last site purchased in the Robertson Quay neighborhood by the Government Land Sales (GLS) was in March 2011. That was when City Developments (CDL) paid S$938 psf ppr for the site built into the UP@Robertson Quay 70-unit and the neighboring M Social Hotel 293-room.
URA introduced a site on Jiak Kim Street across the Singapore River on June 30 for sale. The 99-year leasehold site of 145,125 sq ft involves three preserved 1919-built warehouses that used to house Zouk, a famous club that had been there for 25 years.
Desmond Sim, CBRE researcher for Singapore and Southeast Asia, claims: “I expect to see aggressive bidding for the site, with City Developments trying to protect its place.” He points out that CDL Hospitality Real Estate Investment Trust already owns the Grand Copthorne Waterfront Hotel adjacent to it. CDL would be able to manage a longer stretch of the prime riverfront by gaining the Jiak Kim Street site.
Martin Modern Growth Story
Also undergoing a transformation is the Robertson Quay neighborhood, with the expected opening of the new Great World MRT station, a 10-minute walk away, GuocoLand’s Cheng claims. “The location is very accessible by car, but what is transformative is that it will be accessible by MRT.” The completion of the Great World MRT station is scheduled for 2021, around the same time as the completion of Martin Modern.
Another appeal of the Robertson Quay place, according to Cheng, is its development story: for example, the opening of the new InterContinental Singapore Robertson Quay; The Quayside’s make-up; and the upcoming redevelopment of the former Zouk site on Jiak Kim Street. “That’s why we’ve been confident that Martin Modern’s selling price could reach some level,” he adds.
Martin Modern has been named by GuocoLand as three advertising agents: ERA, Huttons Asia and PropNex Realty. The agents show rates beginning with S$1.8 million for a two-bedroom unit and S$2 million for a two-bedroom study unit. The average cost anticipated is S$2,300 psf.
Ahead of the preview, PropNex held a consumer event at Regent Hotel on July 1, which focused on Martin Modern. More than 200 people showed up. Ismail Gafoor, CEO of PropNex, says: “There’s a lot of investor interest, owing to its location, especially when there hasn’t been a new launch in almost 10 years.”
Martin Modern’s Developers Confidence Returns
Gafoor also highlights the GLS site won last month through a joint venture between Singapore Press Holdings and Kajima Development. It was a 99-year leasehold, mixed-use development site in the new Bidadari Estate, and the JV partners announced they are developing a project with 600 housing units and a business podium of 300,000 sq ft. For the site next to Woodleigh MRT station, the JV submitted a top bid of S$1.132 billion, or S$1.181 psf ppr.
Based on the land bid price for the GLS site at Bidadari Estate, Gafoor reckons the new residential development at Bidadari Estate could be launched at prices “north of S$1,800 psf”.
“The strong bids seen at recent government land tenders are a further sign that confidence has returned to the residential market,” says Gafoor. “Martin Modern’s asking prices — above S$2,000 psf — are definitely something that people will consider, especially given its exclusive neighbourhood in prime District 9.”
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