13 September, Kuala Lumpur – Gamuda Land’s first foray into Singapore starts to bear fruit. Located in one of the more mature and established housing estates in Singapore, Toa Payoh, Gamuda Land’s Gem Residences is now fully sold, far ahead of the scheduled handover in end 2019.
“The 100 percent take up is attributed to our strong development principle of creating places that work. At Gamuda Land, we are committed to creating places that people will call home, want to be a part of, grow up and grow old in,” said Ngan Chee Meng, Chief Executive Officer of Gamuda Land.
Gamuda Land’s approach yields success
Gamuda Land seized the opportunity to expand its footprint in Singapore since 2015 through the acquisition of the nearly 3-acre parcel for S$345.86 million. Toa Payoh, Singapore’s first satellite town since 1964, is a 14-minute drive from the central business district.
It was one of Gamuda Land’s most ambitious foreign endeavours for entering the then challenging property market and intense competition among the property developers in Singapore.
Ngan continued, “Gem Residences’ 100 percent sales success is indeed a satisfying reward. When others were cautious and adopted a wait-and-see approach, we took a contrarian approach to the Singapore market by focusing on making our development work.”
Launched in 2016, this Green Mark-certified private condominium has a gross development value of S$690 million. It is located at the junction of Lorong 6 and Lorong 4. The two towers offer a total of 578 units with built-ups from 425 to 2,045 sq. ft. and selling prices from S$570,500 to S$2.1 million. There are nine layouts ranging from 1 to 5-bedroom units, Duos (dual-key units), Trios (triple-key units), a 4-bedroom penthouse and a 6-bedroom penthouse.
First-of-its-kind Club Condo facilities
“The key appeal of Gem Residences is its placemaking with the creation of practical community living spaces. Gem Residences is the first condo in Singapore to offer a club lifestyle. It is more than just a roof over one’s head. It is a club condo with concierge and unique facilities such as pet pool and pet shower and it comes with many gathering spaces for people to get together within the comfort of their home.” said Ngan, adding that about 45% of Gem Residences is devoted to green spaces for residents to enjoy.
Strategic location surrounded by ample amenities
Strategically located 400m from Braddell MRT Station and a short distance to Toa Payoh MRT Station and Bus Interchange, Gem Residences units are move-in ready, fitted out with air conditioners and SMEG kitchen appliances. It also offers comprehensive surrounding amenities ranging from entertainment to education such as Balestier Plaza, Shaw Plaza, First Toa Payoh Primary School, Catholic High School, Global Indian International School, Curtin University of Technology and Mount Alvernia Hospital.
“With the thoughtful layout of the units, mindful planning and design as well as reasonable pricing, we know that the development will work and we are pleased to obtain 100 percent sales despite today’s lackluster property market. Rest assured, Gamuda Land will continue to play our part in Singapore’s property market in bringing more quality development. We are actively looking for strategic opportunities in this vibrant Lion City,” concluded Ngan.