GuocoLand's first Martin Modern sold out 90 units at $220m

Its 'home within a botanic garden' concept garnered the most interest.

GuocoLand sold out 90 units in the first selling of its latest luxury development, Martin Modern, for more than $220m.

The units ranged from two to four-bedrooms and were priced from $2,009 to $2,500 per square foot. The total value of the apartments ranged from $1.75m to $4.55m.

According to a release, the company initially planned to launch 50 to 60 units, but the strong buyer demand pushed the sales to 90.

GuocoLand managing director Cheng Hsing Yao said, "The response is fantastic as this is a high-end project and each unit is relatively big-ticket. What is more encouraging is that more than 70 percent of the units sold were the larger units and 80 percent of the buyers are high-income Singaporeans who know the market very well and are savvy investors."

GuocoLand also reported high interest towards the "home within a botanic garden concept" during the launch.

Martin Modern has a total of 450 units upon completion, which will be sold in following phases.

The company expects Martin Modern to receive its temporary occupation permit (TOP) by the end of 2021.