GuocoLand unveils $1.8bn mixed-use development in Singapore

WCN Editorial Team 23 Apr 2019 ASIA BUILDINGS

Singapore developer GuocoLand has unveiled the concept and design of a new S$2.4bn ($1.8bn) mixed-use development in the Beach Road district, Singapore.

The approximately 950,600ft² mixed-use project, dubbed Guoco Midtown, is located within Central Business District at the intersection of two key development corridors along Beach Road and Ophir-Rochor Road.

Planned to be completed by 2022, the Guoco Midtown will feature a 30-storey 770,000ft² office tower, residential portion, as well as an array of public and retail spaces.

GuocoLand group president and CEO Raymond Choong said: “Guoco Tower’s opening in stages between 2016 to 2017 has injected a fresh vibrancy, brought a new lease of life to Tanjong Pagar and successfully transformed the district. We envision Guoco Midtown to do the same for the Beach Road area.

"When it is completed in the first half of 2022, Guoco Midtown will be a premium, vibrant business and lifestyle destination, attracting a dynamic community that will rejuvenate and reposition Beach Road.”

The residential portion of the development will comprise a 32-storey tower with about 200 apartments, whereas the two-storey retail offering will be spread over 32,290ft².

Additionally, the development will comprise underground, ground level and elevated pedestrian network that connects Bugis MRT interchange station as well as three districts in the area, including City Hall, Bugis and Marina Centre districts.

GuocoLand Singapore group managing director Cheng Hsing Yao said: “Instead of being a ‘landlord’, we aim to be a partner to our tenants by supporting their business needs.

"We will incorporate flexibility into our leases, offer facilities for their activities and pursuit of innovation, and provide amenities to make the work environment more fun.

"Instead of providing a mere place to live in, we have designed a home that is conducive for work or entertainment. Guoco Midtown is the future brought forward to the present; it is a development that is built around the future lifestyles of people.”

The development also comprises more than 170,000ft² of landscape and public spaces, and more than 34,000ft² of vertical greenery.

The Guoco Midtown also includes a new leasing concept to address the ‘core & flex’ needs of companies with dynamic business needs.

About two floors are assigned for tenants to set up ‘innovation laboratories’ or experimental start-ups.

Image: Illustration of Guoco Midtown project. Photo: courtesy of GuocoLand Group.

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