GuocoLand breaks ground at Guoco Midtown on Beach Road

/ EdgeProp Singapore
November 25, 2018 8:11 PM SGT
GuocoLand marked the groundbreaking of Guoco Midtown the Singapore-listed property developer’s new mixed-use development at Beach Road, on November 25. GuocoLand and Guoco Group jointly won the 99-year leasehold, two hectare site with a bid of $1.622 billion in September last year with a bid of $1.622 billion or $1,706 psf per plot ratio.
The new development will be the “final critical piece of jigsaw that completes the transformation of the area”, says GuocoLand in a release. Guoco Midtown will have a total gross floor area of 950,500 sq ft, of which 770,000 sq ft will be Grade-A office space; 30,000 sq ft retail and entertainment; and more than 200 residences. On the site is the former Beach Road Police Station, a three-storey, colonial-era building constructed in 1934, and given conservation status in 2002.
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Aerial view of the upcoming Guoco Midtown on Beach Road (Photo Credit: GuocoLand Singapore)
Guoco Midtown will boast unblocked views of Marina Bay, Kallang Basin, Orchard Road and the sea. The integrated development will have a direct underground link to the Bugis MRT station, an interchange for the East-West and Downtown Lines. It will also be linked above ground to neighbouring buildings such as South Beach, which has a direct link to the Esplanade MRT station on the Circle Line; and is within a short walk to Raffles City and City Hall MRT interchange station for the North-South and East-West Lines. It is well-served by highways such as Nicoll Highway and the future North-South Highway.
“We have a strong track record of building successful and transformative mixed developments,” comments Raymond Choong, group president & CEO of GuocoLand. He points to GuocoLand’s integrated development, Tanjong Pagar Centre: "Our Guoco Tower has uplifted the image of the Tanjong Pagar District; it is now perceived as a prime office location and leisure destination in the Central Business District."
Choong adds, “In the same way, Guoco Midtown will redefine the Beach Road area by introducing trend-setting concepts for office, retail and residential, It will also have some unique public spaces which will attract many people to Guoco Midtown.”
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Guoco Midtown will be linked to the East-West, Circle, Downtown and North-South MRT lines (Photo Credit: GuocoLand Singapore)