Global MNCs drive ‘strong’ Guoco Midtown take-up
To date, GuocoLand has achieved an 80% pre-commitment take-up.
Interested global multinational corporations have driven the strong take-up in GuocoLand Limited’s 30-storey Grade A Office tower in Guoco Midtown.
The company reported that to date, the 709,000-sq. ft. office tower has achieved an 80% pre-commitment take-up, including deals in advanced stages of negotiation.
“At Guoco Midtown, we will have tenants from multiple sectors, just as we currently do over at Guoco Tower,” Valerie Wong, GuocoLand’s Managing Director of Asset Management, said.
“Besides being a more resilient business model, we find that tenants enjoy the diversity and being part of a larger business community which may at times result in unexpected networks and partnerships.”
Moreover, Guoco Midtown's office tower has also secured a Temporary Occupation Permit.
“The phased completion of Guoco Midtown will grow our portfolio of investment properties and boost our recurring income,” Cheng Hsing Yao, CEO, GuocoLand said.
“Like how Guoco Tower transformed and uplifted Tanjong Pagar, Guoco Midtown will in time also do the same for the Beach Road-Bugis area. This will enhance GuocoLand’s track record as an expert in urban rejuvenation.
The other components of Guoco Midtown, including the Network Hub, two retail clusters (Midtown Square and Midtown Market), luxury condominium Midtown Bay and the conserved former Beach Road Police Station (Midtown House), will be progressively completed in 2023.