Singapore property developer GuocoLand's Guoco Midtown integrated mixed-use project has grown its footprint by acquiring a Government Land Sales site in Tan Quee Lan Street for $800.19 million.
Sitting directly above Bugis MRT station, the site will enable the developer to enlarge the $2.4 billion project's retail and residential offerings. GuocoLand hopes to play its part in the transformation of the Beach Road/ Ophir-Rochor Corridor.
The combined site area will be 50 per cent larger than the existing project, adding up to 3.2ha and almost 1.5 million sq ft of total gross floor area. When completed in the first half of 2022, the entire project is expected to bring an additional 10,000 office workers, residents and visitors into the area daily.
Adapted from The Straits Times 2 October 2019