The joint venturers beat out contenders Sim Lian Group as well as another joint venture group formed by UOL Group, Singapore Land Group and Kheng Leong Co. Guocoland is controlled by Quek—Malaysia’s second-richest man with a net worth of $9.8 billion—through Hong Kong-based Guoco Group. Quek inherited his fortune from his father, one of three brothers who started a banking group in the 1920s. His cousin, Kwek Leng Beng, also a billionaire, is the executive chairman of Singapore-based property giant City Developments.
Of these, 2km will be in the form of new park connectors that are set to be completed by 2023; the rest are cycling paths that will be built by 2026. The LTA has said that these cycling paths will be directly connected to Mayflower and Lentor MRT stations to improve connectivity for residents to other amenities in the greater Ang Mo Kio area. Savills maintains its forecast that private residential property prices will increase by 7% over 2023. This development can be largely attributed to the fact that rising land and construction costs are ultimately passed onto the buyers, particularly through the pricing of smaller-sized units.
In July 2021, URA awarded the tender for a Lentor Central site to a subsidiary of GuocoLand, which submitted a bid of $784.1 million, or $1,204 per square foot per plot ratio (psf ppr). Lentor Hills estate is an upcoming estate as part of the Ang Mo Kio planning area. In land-scarce Singapore, the government is constantly looking for new avenues to convert spaces for new homes. Future residents can also expect to gain access to parks and hospitals nearby, ensuring that they can always stay in the pink of health. Both Lower Pierce Reservoir and Bishan-Ang Mo Kio Park are just 6 minutes away by car. As a trade-off for connectivity, residents might have to put up with noise from Yio Chu Kang Road, especially during the first few years of their stay.
The average rental yield is 2.86% and is higher than the district average of 2.83%. I’d expect them to sell also about 20% higher than One North Eden which averaged about $2,000 psf at launch. Testament to the high growth potential of the area, these land plots, a year apart from the One North Eden site, had a 20% higher land bid price.
I’d expect AMO Residence to average about $2200+ per square feet as the developer seeks to continue riding the wave in a buoyant property market. As the land parcels are part of the mature estate of Ang Mo Kio, we expect a fair amount of interest for these projects that will be eventually launched in the area. Future residents can take pride in being among the first to reap the benefits of a new growth area with connectivity as the key. A quick sheltered 5-minute walk takes residents to the new Lentor MRT Station on the Thomson-East Coast Line and rest of Singapore in minutes.
Statistics are based on condominiums located within a 1.1km radius of the residential land. The site received a somewhat subdued response from property developers, receiving only four bids compared to the usual 9 to 15 for private residential GLS tenders. Property watchers suggest that cooling measures have made property developers more cautious when choosing residential sites for land bank expansion.
As such, some homebuyers may be willing to pay a premium for a mixed-use development due to the convenience it offers. Meanwhile, below is a price comparison of integrated versus non-integrated developments. With 100 ha of land, it will be a vibrant new hub for businesses that will integrate new commercial and residential developments to bring jobs closer to homes in the North Region. Comprising the Woodlands Central and Woodlands North Coast, the latter will serve as a vital link with Malaysia. Lentor Modern, being a mixed-use development, will offer some F&B and retail choices, as well as a supermarket and childcare facilities. Besides these, there isn’t any shopping centres in the immediate vicinity of Lentor Modern condo.
Moreover, with convenient access to the Lentor MRT station, inhabitants can readily explore the rest of Singapore via the newly constructed Thomson-East Coast Line. Buyers’ behaviour in the new sales market “hints of their yearning for new private residential properties and that the desire to own one is driven by budget rather than by the number of bedrooms,” Cheong elaborates. Here at Lentor Hills Residences, you are surrounded by greenery, with the buzz of the city just minutes away. lentor hill residence of the family will be spoilt for choice with a variety of lifestyle, leisure and entertainment options nearby. Live in close proximity to acclaimed schools including CHIJ St Nicholas Girls’ School and Anderson Primary School. It only takes a short drive to reach popular F&B destinations with a wide range of local and international cuisines.
Persistent demand for one- and two-bedroom units in Singapore has resulted in a substantial median price increase in this size range in the Rest of Central Region (RCR). Heong Leong Holdings has also completed several landed property projects, including The Woods Cluster Homes and The Woods, both located in Singapore. These developments offer residents a serene and exclusive living experience in a lush green environment.
Nestled near Lentor MRT, the condo provides residents with lots of benefits that boost their total well being. With nearby leasehold Mayfair collection transacting at around $2,100 psf on average, I’d expect this mega integrated project to command a 10-15% premium and average about $2,300 – $2,400 psf. Including the other empty residential land plots, there is a potential total of 11 new projects upcoming. There is a launch promotion where developers are giving an 8% discount off the list prices. The developer of Lentor Hill Residence is experienced in the real estate industry and has a proven track record of success. This ensures that buyers can be confident in the quality and craftsmanship of the development.