GuocoLand’s River Modern pulls over 7,000 visitors since sales gallery opened on Feb 20

Crowd at River Modern sales gallery this weekend (Photo: GuocoLand)
Crowd at River Modern sales gallery this weekend (Photo: GuocoLand)
Since GuocoLand opened the sales gallery for its River Modern project on Friday, Feb 20, more than 7,000 visitors have streamed through, according to Marcus Chu, CEO of ERA Singapore.
“There is a good mix of prospective buyers from the prime districts, the city fringe and suburban locations,” says Chu. He believes the crowd also reflects confidence in GuocoLand's projects. "It's quite possibly the best available new launch currently."
Kelvin Fong, CEO of PropNex, who has been at the gallery since it opened this morning, says he has seen a steady flow of visitors throughout the day. He adds that pricing is viewed as attractive, with units starting from $2,877 psf — particularly amid the narrowing price gap between new developments in the Core Central Region (CCR) and the Rest of Central Region (RCR).
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While GuocoLand’s land bid of $1,420 psf per plot ratio for the River Modern site was considered “high” a year ago, it now appears “reasonable”, says Fong, given recent land bids for sites in both the RCR and Outside Central Region (OCR).
“The key point is affordability following the harmonisation of gross floor area and strata area,” he adds. “In the past, CCR units were generally larger, making the overall quantum less accessible.”
Two- and three-bedroom units account for 85% of the 455 units at River Modern. The remaining 70 units (15%) are four-bedders ranging from 1,464 sq ft to 1,830 sq ft. More than 70% of the units command riverfront views.
Prices start from:
  • $1.548 million ($2,877 psf) for a 538 sq ft two-bedroom unit;
  • $2.298 million ($2,883 psf) for a 797 sq ft three-bedroom unit; and
  • $4.588 million ($3,134 psf) for a 1,464 sq ft four-bedroom unit.
“River Modern is probably the last parcel of land fronting the Singapore River in prime District 9,” says Mark Yip, CEO of Huttons Asia.
He describes the project as “a rare integrated mixed-use development fronting the Singapore River”. It is directly connected to Great World MRT Station on the Thomson-East Coast Line, linked underground to Great World mall, and located across the road from River Valley Primary School.
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Given these locational attributes, “that’s why people are flocking to the project during the Chinese New Year period,” says Fong.
Check out the latest listings for River Modern, District 9 properties
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