SINGAPORE – GuocoLand’s Guoco Midtown office building in the Bugis-Beach Road district has hit a 90% pre-commitment take-up for its 709,000 square feet space, up from 80% in January 2023, when it received its temporary occupation permit (TOP) status.

Meanwhile, 59% of luxury condominium Midtown Bay’s 219 units have transacted to date, while 97% of the 558 units at Midtown Modern have been sold.

The 2 condominiums are a portion of the Guoco Midtown mega development and are anticipated to be completed by mid-2024.

Developer GuocoLand gave the update on Tuesday, 28th November 2023, at the inauguration of its Network Hub, a business and social networking club with hybrid event and meeting spaces that is connected to the office tower.

Guoco Midtown, a 3.2 hectare mixed-use mega development in Tan Quee Lan Street and Beach Road, consists of 50,000 square feet of retail spaces across 3 clusters, and the conserved previous Beach Road Police Station known as Midtown House, which will have food and beverage stores and boutique offices.

The development is linked to the Bugis MRT interchange, and there are proposals for connections to Suntec City and the City Hall area.

At the inauguration of the Network Hub on 28th November, Ms Valerie Wong, GuocoLand’s managing director of asset management, mentioned that the amenities in the hub took into consideration the transforming needs of tenants.

“Tenants want to use their space more effectively – they may not desire to set aside spaces for a townhall meeting area or private dining rooms within their offices, which are utilised maybe once a quarter,” she commented.

Tenants can reserve a 2,400 square feet function room at the Network Hub at $2,500 for half a day, while a meeting room begins at $250 for 2 hours.

A private dining room, a rooftop bar and barbecue pits are among other facilities that can be booked.

Tenants can use the hub’s “focus pods” and lounges, or smaller meeting rooms, for free too.

When fully completed in mid-2024, the mega development is anticipated to receive more than 10,000 people daily.

Source: https://www.straitstimes.com/business/property/guocoland-s-midtown-office-tower-take-up-rate-hits-90