Guoco Midtown’s Grade A Office Tower Close To Completion
SINGAPORE – Guoco Midtown’s 30-storey Grade A office building nears completion after the mixed-use project has obtained its temporary occupation permit (TOP). Upon completion, the tower will add over 709,000 sq ft of office space in the Beach Road submarket, reported The Edge on Tuesday afternoon (31 January, SGT).
Notably, Guoco Midtown consists of a Grade A office tower, two condominiums, and three retail clusters.
“The phased completion of Guoco Midtown will grow our portfolio of investment properties and boost our recurring income. Like how Guoco Tower transformed and uplifted Tanjong Pagar, Guoco Midtown will in time also do the same for the Beach Road-Bugis area,” commented Cheng Hsing Yao, the Chief Executive of Guoco Midtown’s developer, GuocoLand.
Aside from that, the real estate developer revealed that 80 percent of the office space in the 30-storey office tower has been pre-committed, with a number of negotiations already in the advanced phase.
The office tower’s secured and would-be occupants span different sectors including energy, finance, chemical, maritime, technology, consumer brands, and professional services.
Noteworthy office tenants include German petrochemical firm BASF, Liechtenstein’s private bank VP Bank, multinational shipping company Pacific International Lines, and Chinese tech firm NetEase Interactive Entertainment.
“As a landlord, we see tenants as long-term partners and strive to support them in their transformation journey,” said Valerie Wong, Managing Director of asset management at GuocoLand.
“The offerings at Guoco Midtown, including the Network Hub and our flexible leasing concept, as well as the amenities focused on wellness and recreation, are the results of our engagement with tenants and prospects at Guoco Tower and Guoco Midtown,” she added.