GuocoLand mounts drive to be leader in urban rejuvenation

Singapore

HAVING gone into building integrated developments in addition to condos in the last decade, GuocoLand is starting to think about the next steps for its Singapore business.

GuocoLand Singapore's group managing director Cheng Hsing Yao said that it is contemplating new asset classes, business lines or even possibly a Reit.

He said: "Whatever new things we do have to be synergistic. So I think we should not buy for buying's sake. I think every step we take should build upon what we have achieved so far."

But for now, one of its main focus is Guoco Midtown on Beach Road, its second integrated development project in Singapore, to be completed in 2022.

The S$2.4 billion Guoco Midtown will feature a 30-storey office block, a residential tower Midtown Bay and an array of public spaces. Mr Cheng hopes that this - along with its first integrated project Guoco Tower - will build the group's reputation as a leade…