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What emboldened GuocoLand in Beach Rd bid

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GuocoLand's bid of S$1.622 billion for the Beach Road site (above), which works out to S$1,706.30 psf ppr, surpassed the S$1,689 psf ppr IOI Properties paid for a site in Central Boulevard.

EARLIER this month, GuocoLand and its parent Guoco Group were awarded the Beach Road commercial site by the Urban Redevelopment Authority.

Their winning bid of S$1.622 billion works out to S$1,706.30 per square foot per plot ratio (psf ppr) - setting a new benchmark price for a Government...

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