In addition to the integrated Guoco Midtown project, a site on Tan Quee Lan street will add another level of rejuvenation to the upcoming Ophir-Rochor district.
Tan Quee Lan Street site adds 50% to Guoco Midtown project
Property developer GuocoLand has acquired a Government Land Sales site in Tan Quee Lan Street for $800.19 million, making the combined site area 50% larger than the existing Guoco Midtown project. This new 3.2-hectare site is located above Bugis MRT station and will provide more residential and retail spaces to the $2.4 billion-dollar project.
The Guoco Midtown project is expected to be ready by 2022 and will bring with it 10,000 office workers, residents and visitors. The Ophir-Rochor corridor is set for, and already undergoing, an exciting rejuvenation which could mean an overall increase in the work-live-play aspects the government is trying to cultivate.
As an additional business hub that enhances the downtown core or central business district (CBD) just 10-minutes drive away, the Beach Road/Ophir-Rochor Corridor will be an important part of the Central Area redevelopment under the Urban Redevelopment Authority’s (URA) Draft Masterplan 2019. Together with the Marina Centre and Central Business District, the Ophir-Rochor district will be the third leg to this triangular consolidation of all 3 business districts.
Midtown Bay to launch with prices starting from $1.38 million
Come 2020, the 33-storey Midtown Bay will be launched. The project may be one of the only residential offerings within the CBD and in an integrated development. It consists of 219 one- to three-bedder units and prices for a one-bedroom unit starts from $1.38 million. Prices for a 2-bedder start at $2.08 million which translates to an average price of $2,800 psf.
The developer is hoping to for the Tan Quee Lan Street site to focus on family-sized and larger units. The Guoco Midtown project and this new site will all provide excellent connectivity to the Bugis MRT station. The Tan Quee Lan Street site will also include public spaces and areas for food and beverage and retail options.