GuocoLand-Guoco Grp set to invest S$2.1b in Beach Road project

Singapore

GUOCOLAND did not give away any concrete plans for its future project on the Beach Road site which it was jointly awarded on Tuesday for S$1.622 billion.

However, industry observers expect it, together with its parent, Hong Kong-listed Guoco Group, to develop on the site an office, residential and retail project at a total cost of about S$2.1 billion to S$2.2 billion (including land price). The project is likely to be ready around 2022.

GuocoLand is in a 70:30 joint vent…