The Midtown Bay condo is a part of the new S$2.4 billion Guoco Midtown development, located in a vibrant and growing area of Singapore’s Beach Road. This mixed-use project will feature a total floor area of 950,500 sq ft, including 770,000 sq ft of Grade-A office space, 32,000 sq ft for entertainment and retail, and over 200 residences in Midtown Bay.
According to GuocoLand, Guoco Midtown will complete the transformation of the Beach Road area. The development will offer views of Kallang Basin, Orchard Road, Marina Bay, and the sea. GuocoLand has a history of successful projects, like the Tanjong Pagar Centre, which improved the Tanjong Pagar District.
Raymond Choong, GuocoLand’s president and CEO, aims to redefine the Beach Road area with innovative office, retail, and residential spaces. The project will also conserve and restore the historic 1934 Beach Road Police Station, adding a touch of history to the modern development.
Additionally, the Midtown Bay condo will have an underground pedestrian link connecting directly to Bugis MRT station, just 200 meters or a 3-minute walk away.
Recent mixed developments like South Beach Towers and DUO have brought new life and excitement to the Bugis district. Similarly, Midtown is planned as a unique and groundbreaking development that will enhance and complete the transformation of the area into a prime business and tourism spot.
GuocoLand is creating a cutting-edge project that will set a new standard for the location. They are using their experience from the Tanjong Pagar Centre and combining it with top-notch architectural design, environmental sustainability, and efficiency to develop Midtown Bay, catering to the growing “work-live-play” lifestyle trend.
Guoco Midtown and Midtown Bay aim to be “future-ready” and “best-in-class,” fully utilizing the large site and offering panoramic views of Marina Bay and Kallang Basin.
GuocoLand, along with its parent company Guoco Group, acquired this prime mixed-use site opposite Suntec City and along Beach Road for SGD$1.62 billion. Their subsidiaries, GLL Prosper and GLL Thrive, won the Urban Redevelopment Authority (URA) tender as the top bidder on October 3, 2017.
Read MoreHow does the Midtown Bay condo fare in terms of investment potential? According to Nicholas Mak, Executive Director and Head of Research and Consultancy at ZACD, this site is strategically positioned at the intersection of two major development corridors: Ophir-Rochor Road and Beach Road. Along with landmark projects like DUO and South Beach Towers, Guoco Midtown is expected to significantly transform the Bugis CBD fringe area.
Chang Hsing Yao, GuocoLand Singapore’s Group Managing Director, mentioned that Guoco Midtown will attract forward-thinking companies looking for a collaborative and dynamic environment to draw in the right talent who prefer vibrant districts.
Christine Li, Director of Research at Cushman & Wakefield, pointed out that residential space in prime mixed-use developments like this is rare. Apartments at DUO are almost fully sold out, and South Beach Residences has only 190 units, highlighting the scarcity and potential value of such properties.
The Midtown Bay condo is perfect for those who love urban living and want all the conveniences right at their doorstep. It’s also attractive to investors seeking property in a high-demand, low-supply location.
This is supported by the rental rates of premium offices in the Beach Road area. According to URA data, rents for newer developments nearby are almost as high as those in Raffles Place. By the time Guoco Midtown is finished, the office market in Singapore is expected to be on the rebound.
Analysts generally agree on the positive outlook for this location. Desmond Sim, Head of Research at CBRE Singapore and Southeast Asia, says:
“The site has great potential to benefit from the historical charm of Beach Road while complementing the established Bugis and Suntec areas, as well as new developments like DUO and South Beach. The office market in this area is rapidly gaining traction, with South Beach fully occupied and DUO still experiencing strong leasing activity.”
Project Information
Guoco Midtown
- Developer: Guocoland Limited and Guoco Group
- Status: Mixed-Use Development
- Address: 120, 124, 126, 128, 130 Beach Road
- District: 07
- Site Area: 21,026.9 m² (226,333 sq ft)
- Gross Floor Area (GFA): 88,313 m² (950,600 sq ft)
- Plot Ratio: 4.2
- Tenure: Leasehold tenure of 99 years starting from 2018
- T.O.P. Date: 2022
- Car Park Spaces: 428
- Design Architect: Denton Corker Marshall (DCM)
- Project Architect: DP Architects
- Landscape Architect: Ortus Design
MIDTOWN BAY
- Status: Apartments (No restrictions on ownership)
- Address: 122 Beach Road Singapore 189701
- Residential GFA: 15,173.7 m² (163,330 sq ft)
- Tenure: Leasehold tenure of 99 years starting from 2018
- T.O.P. Date: 2022
- No. of Storeys: 33
- No. of Units: 219 Residential Units
- No. of Lifts: 3
- Description: Residential segment of a mixed-use development comprising 219 apartments with communal facilities
- Interior Design: Peter Tay Studio
Guoco Midtown Office Tower
- Status: Grade A Office Tower
- Gross Floor Area (GFA): 71,534.7 m² (770,000 sq ft)
- No. of Storeys: 30
- Floor Plate Size: 2,500 to 2,780 m² (27,000 to 30,000 sq ft)
City Room, Market Place & Midtown House
- Status: Retail and F&B
- Gross Floor Area (GFA): 3,000 m² (32,290 sq ft)
- No. of Storeys: 2
- Type: Public Spaces
- City Room: 10,100 sq ft and approximately 14 meters high
- Market Place: 10,900 sq ft and approximately 11 meters high
- Green Spaces: 10 gardens comprising 170,000 sq ft of lush greenery
Floor Plans
Midtown Bay Site Plan
The Midtown Bay condo is located in a neighborhood that beautifully blends old and new elements. This blend is reflected within the project itself. Part of the development includes preserving the historic Beach Road police station at the front of the site, which will be named Midtown House.
Showflat
Pricing
Unit Types and Sizes
Read MoreUnit Description | Type | No. of Units | Strata Area (sq m) | Strata Area (sq ft) |
---|---|---|---|---|
1 Bedroom | A1 – A3 | 107 | 38 / 49 | 409 / 527 |
2 Bedroom | B1 – B3 | 72 | 68 / 72 | 732 / 775 |
2 Bedroom Duplex | B2-DP to B7-DP | 32 | 92 / 107 | 990 / 1,152 |
3 Bedroom Duplex | B1-DP | 8 | 123 | 1,324 |
Total Number of Units | 219 |
Floor areas stated include any Voids, Patios, Balconies, Terraces, and A/C Ledges.
Midtown Bay Price Ranges
Read MoreUnit Description | Type | Strata Area (sq ft) | Price Range (SGD$) |
---|---|---|---|
1 Bedroom | A1 – A3 | 409 / 527 | $1.355M – $1.906M |
2 Bedroom | B1 – B3 | 732 / 775 | $2.001M – $2.599M |
2 Bedroom Duplex | B2-DP to B7-DP | 990 / 1,152 | $2.661M – $3.311M |
3 Bedroom Duplex | B1-DP | 1,324 | $3.507M – $3.755M |
Midtown Bay condo prices as of 21 June 2020. (Note: Prices are subject to change without notice or as units are sold.)
Midtown Bay Price Background
Read MoreThe development and land costs forming the basis for the sale price can be estimated as follows:
Guocoland purchased the prime commercial land at Beach Road for SGD$1.62 billion. This 226,333 sq ft site can be developed to a maximum gross floor area of 950,592 sq ft. This translates to SGD$1,706.30 per square foot per plot ratio (PSF PPR) for the land component alone, setting a new record on a unit basis.
Including development costs, the break-even price for Guocoland could be around $2,400 PSF. However, this average includes the office and retail segments. How this will be rebalanced among the various segments, and its impact on the Midtown Bay condo pricing, remains to be seen.
Developer
Midtown Bay Singapore is being developed by GuocoLand Limited, a subsidiary of the Hong Leong Group and one of Singapore’s most reputable real estate developers.
GuocoLand Limited
GuocoLand is renowned for its eco-friendly projects and has received multiple awards for environmental sustainability, such as the Building and Construction Authority (BCA) Green Mark Awards. Some of their award-winning projects include Wallich Residence, Goodwood Residence, Leedon Residence, The Quartz, Sims Urban Oasis, Sophia Residence, Elliot at East Coast, and The Waterline.
In addition to environmental awards, GuocoLand has earned numerous other accolades both locally and internationally, including the FIABCI Property Awards, International Property Awards, South East Asia Property Awards, and BCI Asia Awards.
Listed on the Singapore Exchange since 1978, GuocoLand Limited (“GuocoLand”) is a regional real estate company operating in Singapore, Vietnam, China, and Malaysia. In 2017, it expanded into Australia and the United Kingdom through a strategic partnership with Eco World Development Group Berhad.
Headquartered in Singapore, GuocoLand and its subsidiaries (“the Group”) focus on property investment, development, management, and hotel operations. The Group’s portfolio includes residential, commercial, hospitality, and integrated developments across the region. In Singapore alone, GuocoLand has developed and sold 35 projects, totaling around 10,000 residential apartments and homes.
One of their flagship projects, Tanjong Pagar Centre, is a mixed-use development similar to Midtown. It features the 5-star hotel Sofitel Singapore City Centre, luxury apartments at Wallich Residence, Grade A offices at Guoco Tower, lifestyle retail and F&B spaces, and a landscaped urban park.
GuocoLand has also developed a significant portfolio of properties in major Chinese cities such as Beijing, Nanjing, Shanghai, and Tianjin. Additionally, its subsidiary, GuocoLand (Malaysia) Berhad, has developed community-centered townships and prime commercial properties in Malaysia.
Location
Midtown Bay is situated in the heart of Singapore’s Downtown Core, right across Nicoll Highway from Suntec City and close to the financial districts of Shenton Way and Marina Bay. The site is bordered by Beach Road to the northwest, Rochor Road to the northeast, and Nicoll Highway to the southeast. This prestigious address is surrounded by notable developments like South Beach Towers, Duo, and The Gateway.
Shops, Dining, Supermarkets, Banks
Guoco Midtown itself has retail spaces, and the surrounding area offers an abundance of shopping, dining, banking, and entertainment options. Nearby is the massive Suntec City Mall and Marina Square. On the other side, Bugis Junction is accessible via an underground pedestrian link. Additionally, the area is rich in local culture with old shophouses along Beach Road, offering traditional hawker fare.
Nearest MRT Station
Midtown Bay will have a 200-meter underground pedestrian link to Bugis MRT station on the East-West Line, about a 3-minute walk. Alternatively, it’s an 8-minute walk (520 meters) past South Beach to Esplanade MRT station on Bras Basah Road, on the Circle Line.
Accessibility
Midtown Bay is easily accessible from the expressway network, just off the Rochor Road exit from the ECP (East Coast Parkway). While Rochor Road is a one-way street, you can loop around to Ophir Road to get back on the ECP. The location is approximately 20 minutes from Changi Airport, with a slightly shorter trip coming into the city.
Click here to view the full Midtown Bay Brochure.