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GuocoLand secures commercial site in Beach Road for $1.622 bil

M&A

GuocoLand secures commercial site in Beach Road for $1.622 bil

Samantha Chiew Published on Tue, Oct 03, 2017 / 3:58 PM GMT+8

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SINGAPORE (Oct 3): GuocoLand announced it has secured a commercial Beach Road site for the development of a new city centre work-live-play destination.

The group emerged as the top bidder for the 99-year leasehold site, which was the former Beach Road Police Station, at $1.622 billion or $1,706 psf ppr. Its land plot has a maximum permissible gross floor area of 88,313 sqm.

See: GuocoLand-Guoco Group JV submits top bid of $1.62 bil for Beach Road Police Station site