After delay, IOI Properties’ Central Boulevard office project may be coming to market at opportune time 

IOI Properties Group’s long-awaited office project along Central Boulevard in Singapore’s Central Business District (CBD) is scheduled to receive Temporary Occupation Permit in the third quarter of 2023, more than 6 years after it was awarded the site in November 2016 by the Urban Redevelopment Authority (URA).

At the time, the Bursa Malaysia-listed group had made the headlines with its top bid of nearly S$2.57 billion or S$1,689 per square foot per plot ratio (psf ppr) – the highest in absolute dollar quantum as well as psf ppr for a Government Land Sales site in Singapore then.

The project had reportedly been targeted for completion this year. Observers said that the delay is due partly to the site’s technical constraints, as well as construction disruption due to the Covid-19 outbreak.