Having transformed the Tanjong Pagar neighbourhood with its $3.2 billion Tanjong Pagar Centre integrated development, listed property developer GuocoLand intends to repeat that feat at the junction of Beach Road and Rochor Road with its upcoming Guoco Midtown.
The mixed-use development is situated at the intersection of three key office micro-markets, namely City Hall, Marina Centre and Bugis, says Cheng Hsing Yao, group managing director of GuocoLand Singapore.
Guoco Midtown sits on a 2.1ha, 99-year leasehold site purchased by GuocoLand in a government land sales (GLS) tender for $1.62 billion. The project, scheduled for completion in 2022 with an estimated cost of $2.4 billion, will have a total built-up area of 950,600 sq ft. Offices will make up 770,000 sq ft (81%) of the area; retail and F&B spaces will account for another 32,290 sq ft; while the residential component will have more than 200 units. Public spaces will take up 170,000 sq ft.