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GuocoLand celebrates topping out of Singapore's tallest building

PropertyGuru

Developer GuocoLand on Wednesday (13 January) celebrated the topping out of Singapore's tallest building, Tanjong Pagar Centre. The integrated mixed-use development stands at 290 metres high.

The ceremony was officiated by National Development Minister, Mr Lawrence Wong.

The S$3.2 billion flagship development scheduled for completion in mid-2016 will feature 890,000 sq ft of office space, 100,000 sqft of retail, 222 hotel rooms, 181 residences and 150,000 sq ft Urban Park. Its completion will add to the group's "growing portfolio of large-scale integrated mixed-use investment properties in Singapore and the region," Raymond Choong, GuocoLand President and CEO said in his opening speech at the ceremony.

"This is in line with Guocolands growth strategy to grow our investment income through iconic mixed developments in selected gateway cities in Asia," he added.

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The development's office aspect, Guoco Tower, currently has an approximate take-up rate of 10 percent. Its tenants include DNB Asia, Hong Leong Bank, Open Link and Regus. Meanwhile, its retail space has leasing commitments that now stands at approximately 60 percent, with Virgin Active signing up as its anchor tenant.

Just last week, GuocoLand named AccorHotels as the manager for its hotel at Tanjong Pagar Centre which will be named Sofitel Singapore City Centre. The hotel is slated to open in the third quarter of this year.

Nikki De Guzman, Editor at CommercialGuru wrote this story. To contact her about this or other stories emailnikki@propertyguru.com.sg

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