The development work of the Beach Road development, Guoco Midtown, has begun as announced by its developer, GuocoLand. The development is set to be completed in 2022 according to the developers. The land upon which the property is being developed is a leasehold of 99 years jointly under the Guoco Group and GuocoLand. The bid won was at a cost of $1,706 per sq ft and a total of $1.622 billion.
Guoco Midtown Beach Road by Guocoland
Guoco Midtown is intended to transform the area into one of Singapore’s prominent. The property will be developed on approximately 950,500 square feet. Of this, a grade A office space of 770,000 sq ft, over 200 residential units and a 30,000 sq ft retail space shall be strategically placed near the historical three-storey Police Station on Beach Road built in 1934. As of 2002, it is under a conservation status and a colonial-era historic building. The residential component of Guoco Midtown is Midtown Suites.
Midtown Suites can be reached by several subway stations such as City Hall, Bugis, and Esplanade MRT Station on the Circle line. Also, for owners who take buses, there are many buses available along Nicole Highway and Beach Road. For those traveling to the city, Midtown Suites is right next to Central Highway and East Coast Parkway.
Guoco Midtown Near to Kallang Basin and Marina Bay
The views of Guoco Midtown are openly facing, Kallang Basin, the famous Orchard Road, the sea and the Marina Bay. It is not just the view that makes this property intriguing, it is well connected as well, having an interchange MRT connection of the Downtown and the East-West Lines. There is also the Bugis MRT direct underground link, from the buildings within close proximity, direct access to Esplanade MRT station and within walking distance to City Hall MRT station and the Raffles City. The transport routes like the North-South Highway and Nicholl Highway are very accessible.
The CEO and Group president, Raymond Choong says GuocoLand has a sound track record of “successful and transformative mixed developments” as he refers to the Tanjong Pagar Centre in Tanjong Pagar District. This integrated development has been instrumental to the district according to Choong. He added that Guoco Midtown will change the scene of Beach Road with uniquely modern concept and designs of workspaces, living and retail areas. Guoco Midtown will have lush spaces for the public to enjoy the amenities.
Amenities at Guoco Midtown
Cheng Hsing Yao, the group managing director Singapore, the development is targeted for agile, vibrant, and dynamic companies seeking to work in a collaborative environment. This, according to him, will enable the attraction of appropriate talent. Retail, food and beverage operators also have a platform to showcase novel concepts.
Cheng also stated that Guoco Midtown is planned to have several public green spaces for the promotion of engagement within the community. This will range from events to festivals throughout the year. The integrated development is a �best-in-class’ development aimed at creating modern ways of working as well as living while increasing the positioning the Beach Road district.